FCRGF - First Capital Realty Should Recover More Quickly Than Its Retail REIT Peers
Investment Thesis
First Capital Realty (FCRGF) (“FCR”) had a challenging Q2 2020 as its results were impacted by the outbreak of COVID-19. The company’s high-quality portfolio located in high-growth major urban centers in Canada should recover more quickly than its retail peers. In addition, it also has a rich development pipeline that will significantly transform its portfolio to include more residential units. The company currently pays a 5.9%-yielding dividend and is attractively valued. Hence, we think this is a good stock to own for investors willing to ride out some short-term volatilities.
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