Royal Bank Of Canada Downgrades First Capital Real Estate Investment Trust (TSE:FCR.UN) to Sector Perform

First Capital Real Estate Investment Trust (TSE:FCR.UN) was downgraded by analysts at Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research note issued on Wednesday,BayStreet.CA reports. They currently have a C$24.40 price objective on the stock, up from their previous price objective of C$23.00. Royal Bank Of Canada’s price target would suggest a potential upside of 3.61% from the company’s previous close.

A number of other brokerages also recently weighed in on FCR.UN. Canadian Imperial Bank of Commerce downgraded First Capital Real Estate Investment Trust from an “outperformer” rating to a “neutral” rating and lifted their target price for the stock from C$22.50 to C$24.40 in a report on Friday, April 17th. Raymond James Financial downgraded First Capital Real Estate Investment Trust from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from C$21.75 to C$22.50 in a report on Wednesday, February 18th. BMO Capital Markets downgraded First Capital Real Estate Investment Trust from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from C$22.00 to C$24.20 in a report on Thursday, May 7th. National Bank Financial lifted their target price on First Capital Real Estate Investment Trust from C$23.00 to C$23.50 and gave the stock an “outperform” rating in a report on Friday, February 13th. Finally, Canaccord Genuity Group downgraded First Capital Real Estate Investment Trust from a “buy” rating to a “hold” rating and lifted their target price for the stock from C$23.50 to C$24.40 in a report on Friday, April 17th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of C$23.36.

First Capital Real Estate Investment Trust Trading Up 0.1%

Shares of FCR.UN traded up C$0.02 during mid-day trading on Wednesday, reaching C$23.55. 442,697 shares of the company were exchanged, compared to its average volume of 540,811. First Capital Real Estate Investment Trust has a 52 week low of C$17.36 and a 52 week high of C$23.84. The company has a debt-to-equity ratio of 112.41, a quick ratio of 0.07 and a current ratio of 1.22. The stock has a market capitalization of C$5.01 billion, a PE ratio of 4.67, a PEG ratio of -2.77 and a beta of 0.96. The business has a 50 day simple moving average of C$22.25 and a two-hundred day simple moving average of C$20.60.

First Capital Real Estate Investment Trust (TSE:FCR.UN) last issued its earnings results on Tuesday, May 5th. The company reported C$0.43 earnings per share for the quarter. The business 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%. On average, analysts predict that First Capital Real Estate Investment Trust will post 1.2480836 earnings per share for the current fiscal 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.