In a latest note to investors, a research analyst has provided a rating update for the Financial sector company, First Capital Realty (FCR). Michael Smith, an analyst with RBC Capital, has upgraded their rating on FCR to Buy today , with a C$25 price target.
According to TipRanks.com, Smith is a 4-star analyst with an average return of 9.3% and a 65.6% success rate. Smith covers the Financial sector, focusing on stocks such as Choice Properties Real Estate Investment Trust, RioCan Real Estate Investment Trust, and FirstService Corporation.
Currently, the analyst consensus on First Capital Realty is a Strong Buy with an average price target of C$23.40, implying an 8.9% upside from current levels. In a report issued on April 15, Raymond James also maintained a Buy rating on the stock with a C$23 price target.
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Based on First Capital Realty’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of C$64.31 million. In comparison, last year the company had a net profit of C$65.94 million.
First Capital Realty, Inc. owns, develops and manages grocery anchored, retail focused urban properties where people live and shop for everyday life. Its properties include groceries, prescription drugs, personal care items, household supplies, banking and other personal services.
The company’s shares closed on Wednesday at C$21.49.
