FCR.UN Relative Valuation - First Capital Real Estate Investment Trust - Alpha Spread

First Capital Real Estate Investment Trust
TSX:FCR.UN

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First Capital Real Estate Investment Trust
TSX:FCR.UN
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Price: 17.82 CAD Market Closed
Market Cap: 3.8B CAD
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Relative Value

The Relative Value of one FCR.UN stock under the Base Case scenario is 29.29 CAD. Compared to the current market price of 17.82 CAD, First Capital Real Estate Investment Trust is Undervalued by 39%.

Relative Value is the estimated value of a stock based on various valuation multiples like P/E and EV/EBIT ratios. It offers a quick snapshot of a stock's valuation in relation to its peers and historical norms.

FCR.UN Relative Value
Base Case
29.29 CAD
Undervaluation 39%
Relative Value
Price
Worst Case
Base Case
Best Case

Valuation Multiples

vs History
3
vs Industry
39
Median 3Y
4.6
Median 5Y
0
Industry
3.8
Forward
5.2
vs History
vs Industry
49
Median 3Y
-23.2
Median 5Y
0
Industry
16.5
Forward
17
vs History
0
vs Industry
24
Median 3Y
13.3
Median 5Y
0
Industry
11
vs History
14
vs Industry
5
Median 3Y
-25.6
Median 5Y
0
Industry
12.9
vs History
0
vs Industry
44
Median 3Y
0.8
Median 5Y
0.7
Industry
0.8
vs History
12
vs Industry
33
Median 3Y
9.8
Median 5Y
0
Industry
6.7
Forward
9.8
vs History
20
vs Industry
31
Median 3Y
16
Median 5Y
0
Industry
11.9
vs History
17
vs Industry
35
Median 3Y
16.8
Median 5Y
0
Industry
16
Forward
17
vs History
17
vs Industry
40
Median 3Y
17
Median 5Y
0
Industry
19
vs History
4
vs Industry
18
Median 3Y
28.2
Median 5Y
0
Industry
18.2
vs History
4
vs Industry
21
Median 3Y
28.2
Median 5Y
0
Industry
19.9
vs History
0
vs Industry
44
Median 3Y
0.8
Median 5Y
0.7
Industry
0.7

Multiples Across Competitors

FCR.UN Competitors Multiples
First Capital Real Estate Investment Trust Competitors

All Multiples
P/S
P/E
EV/EBITDA
EV/EBIT
All Countries
Close
Market Cap P/S P/E EV/EBITDA EV/EBIT
CA
First Capital Real Estate Investment Trust
TSX:FCR.UN
3.8B CAD 5.4 -61 17.6 17.8
US
Realty Income Corp
NYSE:O
54.3B USD 11.5 64.8 18.7 37.9
US
Simon Property Group Inc
NYSE:SPG
53.6B USD 9.2 20.9 18 26.1
SG
CapitaLand Integrated Commercial Trust
SGX:C38U
14.4B 0 0 0 0
US
Kimco Realty Corp
NYSE:KIM
14.3B USD 8 22.7 19.3 36.2
US
Regency Centers Corp
NASDAQ:REG
13.1B USD 9.3 34.5 19.9 35.6
AU
Scentre Group
ASX:SCG
18.1B AUD 7.2 103.7 19.5 19.5
HK
Link Real Estate Investment Trust
HKEX:823
95B HKD 7 -47.9 14.9 15.1
US
Site Centers Corp
NYSE:SITC
11.9B USD 23.6 26.7 40.3 101.1
US
Federal Realty Investment Trust
NYSE:FRT
9.7B USD 8.3 34.4 19.1 34.8
FR
Klepierre SA
PAR:LI
8B EUR 5.5 11.9 15.6 15.6

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