First Capital Realty (FCR.TO) Buy, Sell or Hold

First Capital Realty (FCR.TO)

20.86

-0.00 (0.00%)

as of Dec 27, 2019, 5:00:00 am Market Open.

124 watching

PAST TOP PICK

(Top Pick Jun 25/09, Up 42% including distributions) Shopping centers are in the middle of the community - grocery store, liquor store, bank. Managers bring a very strong discipline. Aggressive in management. Likes them a lot. They’ve been struggling – not enough liquidity. Split a little while ago. Did an issue. Were added to an index on the TSX, which put volume up.

BUY

Really good management. Properties are recession resistant with a lot of Shoppers (SC-T) and grocery stores. Appropriate one to hold during either up cycles or down cycles.

PAST TOP PICK

(A Top Pick June 9/09. Up 26.9% excluding distributions.) Shopping centres that are all well located. Still likes but looks like it could be getting a little tired. Conservative with their debts and pay out.

TOP PICK

Shopping centres that don't have a lot of fashion. Low payout ratio. Always expanding.

BUY

One of his favourites. Almost all of their centres are inside communities with banks, grocery stores and liquor stores. They buy properties and then expand within the properties so are always using some of their money for reinvesting. Low payout ratio. Good dividend of about 6%. Good long-term hold.

PAST TOP PICK

(A Top Pick March 17/09. Up 44.07%.) 5.5% convertible debentures maturing 2017 and priced for an 11% yield.

BUY

Is an excellent company. They carved out the US assets from the Canadian operations. Likes the management team. The upside is there. The TLF program has been supporting the CMBS markets like never before and it will be interesting to see how the CMBS market reacts once the TLF program is withdrawn. Then the credit spreads and cap rates for REITs will get impacted accordingly.

BUY

(Market Call Minute) Great Management. Room for cash flow to grow.

TOP PICK

Shopping centres across Canada. Totally focused management. 6.8% dividend yield. About 85% payout.

PAST TOP PICK

(A Top Pick May 28/08. Up 8%.) 5.08% Bond due June 21/12.

TOP PICK

(A Top Pick June 2/08. Down 20.89%.) One of the few that has a negative rate of return year-to-date but has some of the best management and structuring. 7.3% yield. Low payout ratio.

BUY

Owns about 17% of a US REIT Equity One plus interests in a number of operating companies. Entities under this company that own these are going to be spun off to existing shareholders. Regarding this company, they are cleaning up the balance sheet to give a clean play on Canadian shopping centres.

TOP PICK

(A Top Pick June 2/08. Down 24.91%.) Small shopping centres. Steady growth. Very good at acquiring properties. Very good management. US holdings have hurt them and they are working to get rid of it. 7.8% distribution is safe.

TOP PICK

(A Top Pick June 2/08. Down 22.66%.) Very good management that has been disappointed on its performance. In spite of the economy, it should be a survivor. Conservative market and conservative management. Yield of about 7.6%. Payout ratio of about 85%.

PARTIAL BUY

Dominant owner of neighbourhood convenience shopping centres. Very stable tenants such as banks, Shoppers Drugs, etc. Distribution is sustainable. Expect some downside volatility so he would pick away at it over the summer.

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First Capital Realty (FCR.TO)