We do not cover this company at the moment.
| Date Reviewed | N/A |
| Company Name | Firm Capital Property Trust |
| Symbol | FCD.UN.TO |
| Sector | Real Estate |
| Industry | REIT - Retail |
| Beta | 1.079 |
| PRO Rating | 2 |
| Dividend Safety | 2 |
Business Model
Firm Capital Property Trust (the Trust) is a Canada-based open-ended real estate investment trust. The Trust owns 100% of the outstanding Class A Limited Partnership Units of Firm Capital Property Limited Partnership (FCPLP), a limited partnership created under the laws of the Province of Ontario. FCPLP ultimately owns the investment properties through various subsidiaries. The Trust is focused on creating long-term value for unitholders through capital preservation and disciplined investing to achieve stable distributable income. The Trust operates through five segments: grocery anchored retail, non-grocery anchored retail, industrial, multi-residential, core service office provider, and manufactured homes communities. Its portfolio consists of 64 commercial properties with a total GLA of 2,545,843 square feet, five multi-residential complexes comprised of 599 units and four manufactured homes communities comprised of 537 units.
| Current price | 5.93 |
| ROE | 5.25 % |
| ROIC | 0.00 % |
| Shareholder Yield | 1.40 % |
| 5-Yr Total Return | 32.60 % |
| 1-Yr Total Return | 31.65 % |
| Next Earnings Date |
Latest Quarter Information
What the CEO said:
No comments available.
What we say:10-02-2024, Firm Capital Property reported a good quarter as revenue increased by 7% and AFFO per unit jumped by 22%. However, it wasn't enough to bring the AFFO payout ratio under 100%. The payout ratio went from 128% last year to 105% this quarter (and 106% for the first six month). Revenue growth was supported by strong occupancy rates, particularly in its commercial (95.8%) and multi-residential (99.7%) segments. The company's portfolio remains diversified across 64 commercial properties, 599 multi-residential units, and 537 manufactured home community units.
Investment Thesis
Dividend Triangle
| 5-Yr Rev. Growth | 21.10 % |
| 5-Yr EPS Growth | -14.35 % |
| 5-Yr Div Growth | 2.50 % |
Potential Risks
| Debt/Equity | 1.15 |
| Financial Debt to EBITDA (TTM) | 10.40 |
| Current Ratio (Quarterly) | 0.15 |
| Credit Score | 97 |
Dividend Growth Perspective
| Dividend ($) | 0.52 |
| Dividend Yield Fwd | 8.75 % |
| Dividend Frequency | Monthly |
| Average 5-Yr Yield | 8.65 % |
| Payout Ratio (%) | 125.10 |
| Cash Payout Ratio (%) | 69.60 |
| DGR 1-Yr | -0.05 |
| DGR 3-Yr | 4.30 |
| DGR 5-Yr | 2.50 |
| DGR Streak | 11 |
| Chowder Score | 11.20 |
| Next DVD PMT | 02-17-25 |
Valuation
(Data for `ddm_recent_annual_dividend` field are missing to build DDM tables)
Video Tutorial: How to Read the Stock Cards DDM Valuation| Market Cap | 220.00 M |
| PE Ratio | 6.30 |
| Fwd PE | 0.00 |
| Price to Book Ratio | 0.70 |
| DDM Valuation | N/A |
| Average 5-Yr PE | 10.84 |
| Value Score | 93 |
- All financial metrics are updated weekly.
- The DSR PRO rating and Dividend Safety Score are updated quarterly.
- The analysis (investment thesis, risk potential, dividend growth perspective and DDM calculation) is reviewed every 6 months.
- The PDF format includes only comments (no metrics) and is reviewed every 6 months.