CWYUF - First Capital Realty: We Are Cautiously Optimistic About Its Strategic Focus
Investment Thesis
First Capital Realty (FCRGF) (TSX:FCR) delivered another year of solid earnings with strong same-property net operating income growth and occupancy ratio improvement. The company also announced its “Super Urban Focus” strategy that will focus on strong growth neighborhoods in its major markets. In addition, it will diversify its asset types to include mixed-use properties. This strategy should be favorable as the company will be able to enjoy above average rental revenue growth in strong growth neighborhoods. In addition, the strategy to include more mixed-use properties will help First Capital Realty to