TO · FCR-UN.TO
First Capital Real Estate Investment Trust
- Sector
- Real Estate · REIT - Retail
- Headquarters
- Toronto, ON M6K 3S3
- Website
- fcr.ca
Price · as of 2025-12-31
$23.38
Market cap 4.54B
Valuation summary
Four models, one snapshot. Upside is target ÷ current − 1.
| Valuation method | Value, $ | Upside, % |
|---|---|---|
| Artificial Intelligence(AI) | $26.09 | +11.59% |
| Intrinsic Value(DCF) | $9.18 | -60.74% |
| Graham-Dodd Method(GD) | $34.41 | +47.16% |
| Graham Formula(GF) | $53.18 | +127.45% |
Valuation history
Annual price (USD per share) overlaid with each model's fair value. Y-axis is log scale.
| Year | Price | AI | DCF | Graham-Dodd | Graham Formula |
|---|---|---|---|---|---|
| 2011 | $9.53 | $48.45 | $1.51 | $19.44 | $55.32 |
| 2012 | $10.62 | $39.81 | $2.28 | $15.59 | $41.16 |
| 2013 | $10.40 | $39.88 | $1.48 | $8.56 | $16.68 |
| 2014 | $11.85 | $33.52 | $1.68 | $8.42 | $11.10 |
| 2015 | $12.87 | $25.56 | $1.79 | $8.08 | $9.68 |
| 2016 | $13.52 | $23.86 | $2.98 | $13.21 | $18.80 |
| 2017 | $14.07 | $24.19 | $2.63 | $19.07 | $41.32 |
| 2018 | $15.38 | $21.71 | $0.00 | $14.08 | $14.65 |
| 2019 | $16.59 | $22.04 | $0.77 | $14.72 | $12.55 |
| 2020 | $13.20 | $20.75 | $1.04 | $5.26 | $0.00 |
| 2021 | $15.18 | $28.11 | $2.90 | $24.52 | $19.45 |
| 2022 | $13.74 | $19.45 | $2.01 | $8.10 | $0.00 |
| 2023 | $14.48 | $19.40 | $0.87 | $2.40 | $0.00 |
| 2024 | $16.31 | $22.09 | $1.93 | $10.46 | $3.05 |
| 2025 | $21.16 | $26.09 | $1.36 | $34.41 | $53.18 |
AI valuation
Our deep-learning model estimates First Capital Real Estate Investment Trust's (FCR-UN.TO) per-share fair value from quarterly fundamentals, sector trend, and historical valuation patterns.
- AI fair value
- $26.09
- Current price
- $23.38
- AI upside
- +11.59%
Methodology and confidence bands appear in the dedicated valuation theory section. The AI score is an estimate, not a recommendation.
Intrinsic value (DCF)
Open DCF calculatorThree textbook valuation models, recomputed daily from the latest financial statements. The DCF uses our Chepakovich model. Graham-Dodd and Graham Formula are conservative reference points.
DCF
$9.18
-60.74% upside
Graham-Dodd
$34.41
+47.16% upside
Graham Formula
$53.18
+127.45% upside
About First Capital Real Estate Investment Trust
First Capital is a leading developer, owner and manager of mixed-use real estate located in Canada's most densely populated cities. First Capital's focus is on creating thriving urban neighbourhoods to generate value for businesses, residents, communities and our investors.
- CEO
- Adam E. Paul
- Employees
- 364
- Beta
- 0.85
Disclaimer: Information on this page is provided for educational purposes only and does not constitute investment advice. Upside computed as ($9.18 ÷ $23.38) − 1 = -60.74% (DCF, example).