First Capital Real Estate Investment Trust (TSE:FCR.UN) Sets New 12-Month High Following Analyst Upgrade

Shares of First Capital Real Estate Investment Trust (TSE:FCR.UN) hit a new 52-week high during mid-day trading on Monday after Canaccord Genuity Group raised their price target on the stock from C$17.50 to C$20.00. Canaccord Genuity Group currently has a buy rating on the stock. First Capital Real Estate Investment Trust traded as high as C$18.44 and last traded at C$18.37, with a volume of 11327 shares changing hands. The stock had previously closed at C$18.43.

A number of other research firms have also recently issued reports on FCR.UN. CIBC raised their price objective on First Capital Real Estate Investment Trust from C$18.00 to C$19.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. TD Securities raised their price target on First Capital Real Estate Investment Trust from C$18.00 to C$20.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Desjardins upped their price objective on shares of First Capital Real Estate Investment Trust from C$18.00 to C$19.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Royal Bank of Canada raised their target price on shares of First Capital Real Estate Investment Trust from C$18.00 to C$19.00 in a research note on Friday, August 2nd. Finally, Scotiabank upped their price target on shares of First Capital Real Estate Investment Trust from C$17.25 to C$17.50 in a research note on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, First Capital Real Estate Investment Trust currently has a consensus rating of “Moderate Buy” and a consensus target price of C$18.78.

First Capital Real Estate Investment Trust Price Performance

The company has a quick ratio of 0.07, a current ratio of 1.22 and a debt-to-equity ratio of 112.41. The company has a market capitalization of C$3.91 billion, a P/E ratio of -63.48, a PEG ratio of -2.77 and a beta of 1.27. The company’s fifty day moving average price is C$16.75 and its 200 day moving average price is C$15.73.

About First Capital Real Estate Investment Trust

First Capital Realty Inc acquires, develops, redevelops, owns, and manages urban retail-centered real estate properties in Canada. The company's property portfolio comprises grocery stores, pharmacies, liquor stores, banks, restaurants, cafes, fitness centers, medical, and childcare facilities. It also offers other professional and personal services.