Firm Capital Property Trust (TSE:FCD.UN)
TSX:FCD.UN
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Firm Capital Property
(TSX:FCD.UN)
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Rating:66Neutral
Price Target:
C$6.50
▲(6.56% Upside)
Action:ReiteratedDate:03/12/26
The score is primarily supported by attractive valuation (low P/E and high yield), but is moderated by variable earnings and cash flow and a moderately levered balance sheet. Technicals are mixed, with weaker near-term price action and muted momentum.
Positive Factors
Diversified rental portfolio
A diversified mix of commercial and multi-residential assets provides multiple rental income streams and reduces single-market concentration risk. Contractual rents and tenant recoveries support predictable cash flow and make distributable income less reliant on any single property or sector over the medium term.
Negative Factors
Moderate leverage
A debt-to-equity around 1.0 is typical for REITs but leaves limited financial flexibility. If interest rates rise or refinancing needs emerge, leverage can amplify cash flow pressure, constrain acquisition ability, and increase refinancing risk, affecting long-term capital allocation choices.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified rental portfolio
A diversified mix of commercial and multi-residential assets provides multiple rental income streams and reduces single-market concentration risk. Contractual rents and tenant recoveries support predictable cash flow and make distributable income less reliant on any single property or sector over the medium term.
Read all positive factors
Firm Capital Property (FCD.UN) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$225.25M
Dividend Yield8.65%
Average Volume (3M)16.27K
Price to Earnings (P/E)8.7
Beta (1Y)0.21
Revenue Growth2.69%
EPS Growth-45.80%
CountryCA
Employees1
SectorReal Estate
Sector Strength53
IndustryREIT - Diversified
Share Statistics
EPS (TTM)0.34
Shares Outstanding36,925,682
10 Day Avg. Volume17,552
30 Day Avg. Volume16,271
Financial Highlights & Ratios
PEG Ratio-0.36
Price to Book (P/B)0.72
Price to Sales (P/S)3.62
P/FCF Ratio11.79
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$7.00Price Target Upside14.75% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Firm Capital Property Business Overview & Revenue Model
Company Description
Firm Capital Property Trust is focused on creating long-term value for Unitholders, through capital preservation and disciplined investing to achieve stable distributable income. In partnership with management and industry leaders, The Trust's pla...
How the Company Makes Money
Firm Capital Property Trust primarily makes money by earning rental and related property income from its real estate portfolio. Its core revenue stream is contractual rent paid by tenants under lease agreements, typically across commercial (e.g., ...
Firm Capital Property Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
63
Positive
Cash Flow
52
Neutral
| Breakdown | Dec 2025 | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 61.86M | 60.58M | 58.09M | 54.02M | 46.43M |
| Gross Profit | 33.60M | 35.19M | 37.30M | 35.46M | 30.22M |
| EBITDA | 40.42M | 47.67M | 29.28M | 30.66M | 66.76M |
| Net Income | 25.72M | 33.89M | 15.37M | -22.00M | 58.39M |
Balance Sheet | |||||
| Total Assets | 645.31M | 651.95M | 637.38M | 633.90M | 576.36M |
| Cash, Cash Equivalents and Short-Term Investments | 5.69M | 9.18M | 8.33M | 4.99M | 5.90M |
| Total Debt | 319.39M | 332.67M | 335.29M | 325.73M | 264.97M |
| Total Liabilities | 332.41M | 345.57M | 345.69M | 337.38M | 280.44M |
| Stockholders Equity | 312.90M | 306.38M | 291.69M | 296.51M | 295.92M |
Cash Flow | |||||
| Free Cash Flow | 19.02M | 29.70M | 22.66M | -55.31M | -47.05M |
| Operating Cash Flow | 19.02M | 34.42M | 28.92M | 29.97M | 26.60M |
| Investing Cash Flow | 9.90M | 1.96M | -561.66K | -80.71M | -47.83M |
| Financing Cash Flow | -32.44M | -35.53M | -25.01M | 49.83M | 21.44M |
Firm Capital Property Technical Analysis
Positive
6.10
Price Trends
6.02
Positive
5.94
Positive
5.82
Positive
Market Momentum
0.03
Negative
55.16
Neutral
52.12
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:FCD.UN, the sentiment is Positive. The current price of 6.1 is above the 20-day moving average (MA) of 6.02, above the 50-day MA of 6.02, and above the 200-day MA of 5.82, indicating a bullish trend. The MACD of 0.03 indicates Negative momentum. The RSI at 55.16 is Neutral, neither overbought nor oversold. The STOCH value of 52.12 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:FCD.UN.
Firm Capital Property Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | C$126.88M | 6.98 | 12.17% | 6.15% | 3.20% | 39.37% | |
70 Outperform | C$338.07M | 16.24 | 4.52% | 7.37% | 0.92% | 92.93% | |
66 Neutral | C$225.25M | 8.72 | 6.20% | 8.65% | 2.69% | -45.80% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
53 Neutral | C$2.62B | -3.39 | -17.10% | 7.05% | -0.83% | -56.21% | |
49 Neutral | C$440.72M | -25.11 | -1.91% | 3.85% | -5.37% | 13.86% | |
47 Neutral | C$29.48M | -0.29 | -9.99% | ― | -25.69% | 0.12% |
* Real Estate Sector Average
TSE:FCD.UN
Firm Capital Property
6.10
0.91
17.56%
TSE:BTB.UN
BTB REIT
3.83
0.94
32.43%
TSE:MPCT.UN
Dream Impact Trust
1.55
-1.07
-40.84%
TSE:NET.UN
Canadian Net Real Estate Investment Trust Trust Units
6.16
1.33
27.56%
TSE:HR.UN
H&R Real Estate ate Staple
9.91
1.00
11.25%
TSE:MRT.UN
Morguard Real Estate ate
6.60
1.31
24.69%
Firm Capital Property Corporate Events
Business Operations and StrategyDividendsFinancial DisclosuresPrivate Placements and Financing
Firm Capital Property Trust Posts Stable Q4 Results and Expands Credit Capacity
Positive
Mar 10, 2026
Firm Capital Property Trust reported steady operating performance for the fourth quarter of 2025, with net operating income roughly flat year over year and commercial and residential occupancies holding in the low-90% range, while manufactured hom...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.