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: | $509.00M 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 |