First Capital Real Estate Investment Trust (TSE:FCR.UN) Stock Rating Lowered by Canadian Imperial Bank of Commerce

First Capital Real Estate Investment Trust (TSE:FCR.UN) was downgraded by research analysts at Canadian Imperial Bank of Commerce from an “outperformer” rating to a “neutral” rating in a note issued to investors on Friday,BayStreet.CA reports. They presently have a C$24.40 price objective on the stock, up from their previous price objective of C$22.50. Canadian Imperial Bank of Commerce’s price objective suggests a potential upside of 3.92% from the stock’s previous close.

A number of other equities analysts also recently issued reports on FCR.UN. Royal Bank Of Canada increased their price target on shares of First Capital Real Estate Investment Trust from C$22.00 to C$23.00 and gave the company an “outperform” rating in a report on Friday, February 13th. Canaccord Genuity Group downgraded shares of First Capital Real Estate Investment Trust from a “buy” rating to a “hold” rating and raised their target price for the company from C$23.50 to C$24.40 in a report on Friday. National Bank Financial raised their target price on shares of First Capital Real Estate Investment Trust from C$23.00 to C$23.50 and gave the company an “outperform” rating in a report on Friday, February 13th. Finally, Raymond James Financial downgraded shares of First Capital Real Estate Investment Trust from an “outperform” rating to a “market perform” rating and raised their target price for the company from C$21.75 to C$22.50 in a report on Wednesday, February 18th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, First Capital Real Estate Investment Trust currently has a consensus rating of “Moderate Buy” and an average target price of C$23.04.

First Capital Real Estate Investment Trust Stock Performance

Shares of FCR.UN opened at C$23.48 on Friday. The company has a 50-day simple moving average of C$20.96 and a 200-day simple moving average of C$19.87. 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$4.99 billion, a PE ratio of 4.69, a P/E/G ratio of -2.77 and a beta of 0.89. First Capital Real Estate Investment Trust has a 52-week low of C$16.08 and a 52-week high of C$23.84.

First Capital Real Estate Investment Trust (TSE:FCR.UN) last announced its quarterly earnings results on Tuesday, February 10th. The company reported C$4.00 earnings per share (EPS) for the quarter. The business had revenue of C$185.38 million during the quarter. First Capital Real Estate Investment Trust had a negative net margin of 8.48% and a negative return on equity of 1.57%. Equities research analysts predict that First Capital Real Estate Investment Trust will post 1.2480836 earnings per share for the current fiscal year.

First Capital Real Estate Investment Trust Company Profile

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