Firm Capital Property Trust (T:FCD.UN)
Business Focus: Diversified REITs
| Sector: Real Estate | Industry: Diversified REITs |
| Company Contact | |
| Address: | 163 Cartwright Avenue TORONTO ON M6A 1V5 |
| Tel: | N/A |
| Website: | https://firmcapital.com |
| IR: | See website |
| Key People | ||
| Robert Mckee President, Chief Executive Officer, Trustee | Eli Dadouch Vice Chairman, Co-Chief Investment Officer, Trustee | Sandy I. Poklar Chief Financial Officer, Trustee |
| Jonathan Mair Co-Chief Investment Officer, Trustee | Victoria Shali Granovski Secretary, Trustee | |
| Business Overview |
| Firm Capital Property Trust (the Trust) is a Canada-based open-ended real estate investment trust. The Trust owns 100% of the outstanding Class A Limited Partnership Units of Firm Capital Property Limited Partnership (FCPLP), a limited partnership created under the laws of the Province of Ontario. FCPLP ultimately owns the investment properties through various subsidiaries. The Trust is focused on creating long-term value for unitholders through capital preservation and disciplined investing to achieve stable distributable income. The Trust operates through five segments: grocery anchored retail, non-grocery anchored retail, industrial, multi-residential and core service office provider. Its portfolio consists of 66 commercial properties with a total GLA of 2,558,146 square feet, five multi-residential complexes comprised of 599 units and four manufactured homes communities comprised of 537 units. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Firm Capital Property Trust revenues increased 6% to C$57.5M. Net income totaled C$15.4M vs. loss of C$1.2M. Revenues reflect Industrial segment increase of 14% to C$15.4M, grocery anchored retail segment increase of 4% to C$28.5M. Net Income reflects FV Adjustments on Investment Property decrease of 87% to C$3.3M (expense), General and Administrative decrease of 14% to C$5M (expense). |
| Employees: | 1 as of Dec 31, 2022 |
| Reporting Currency: | Canadian Dollars |
| Enterprise value: | $507.46M as of Dec 31, 2023 |
| Annual revenue (TTM): | $57.51M as of Dec 31, 2023 |
| EBITDA (TTM): | $32.40M as of Dec 31, 2023 |
| Net annual income (TTM): | $15.37M as of Dec 31, 2023 |
| Free cash flow (TTM): | $9.69M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $326.96M as of Dec 31, 2023 |
| Shares outstanding: | 36,925,682 as of Dec 31, 2023 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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