BMO Capital Markets Downgrades First Capital Real Estate Investment Trust (TSE:FCR.UN) to Market Perform

First Capital Real Estate Investment Trust (TSE:FCR.UN) was downgraded by stock analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a report issued on Thursday,BayStreet.CA reports. They currently have a C$24.20 target price on the stock, up from their previous target price of C$22.00. BMO Capital Markets’ target price indicates a potential upside of 3.29% from the company’s previous close.

A number of other analysts have also recently commented on the company. Canaccord Genuity Group cut First Capital Real Estate Investment Trust from a “buy” rating to a “hold” rating and upped their price target for the company from C$23.50 to C$24.40 in a research note on Friday, April 17th. Canadian Imperial Bank of Commerce cut First Capital Real Estate Investment Trust from an “outperformer” rating to a “neutral” rating and upped their price target for the company from C$22.50 to C$24.40 in a research note on Friday, April 17th. National Bank Financial upped their price target on First Capital Real Estate Investment Trust from C$23.00 to C$23.50 and gave the company an “outperform” rating in a research note on Friday, February 13th. Royal Bank Of Canada upped their price target on First Capital Real Estate Investment Trust from C$22.00 to C$23.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Finally, Raymond James Financial cut First Capital Real Estate Investment Trust from an “outperform” rating to a “market perform” rating and upped their price target for the company from C$21.75 to C$22.50 in a research note on Wednesday, February 18th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$23.19.

First Capital Real Estate Investment Trust Stock Performance

Shares of FCR.UN stock opened at C$23.43 on Thursday. The company has a debt-to-equity ratio of 112.41, a current ratio of 1.22 and a quick ratio of 0.07. The stock has a market cap of C$4.98 billion, a PE ratio of 4.68, a price-to-earnings-growth ratio of -2.77 and a beta of 0.96. The stock has a 50-day moving average of C$21.63 and a 200-day moving average of C$20.21. First Capital Real Estate Investment Trust has a one year low of C$16.98 and a one year high of C$23.84.

First Capital Real Estate Investment Trust (TSE:FCR.UN) last announced its quarterly earnings results on Tuesday, May 5th. The company reported C$0.43 EPS for the quarter. The company had revenue of C$189.71 million during the quarter. First Capital Real Estate Investment Trust had a negative return on equity of 1.57% and a negative net margin of 8.48%. As a group, sell-side analysts expect that First Capital Real Estate Investment Trust will post 1.2480836 earnings per share for the current year.

About First Capital Real Estate Investment Trust

First Capital owns and operates, acquires, and develops open-air grocery-anchored shopping centres in neighbourhoods with the strongest demographics in Canada.