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Canada's First Capital REIT Q3 operating FFO per unit rises on higher net operating income

By Reuters News


Overview

  • Canada retail REIT's Q3 operating FFO per unit rose 9.2% yr/yr to C$0.36

  • Net income attributable to unitholders increased, aided by higher investment property fair value gains

  • Portfolio occupancy declined slightly to 96.9% from 97.1% a year earlier


Outlook

  • Company did not provide specific financial guidance for the current quarter or full year in the press release


Result Drivers

  • HIGHER NOI - Co said increase in operating FFO was primarily due to higher net operating income

  • RENTAL RATE GROWTH - Co attributed same property NOI growth to rental rate increases and non-recurring adjustments

  • FAIR VALUE GAINS - Co said net income rise was mainly due to higher fair value gains on investment properties


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Net Income

C$116.1 mln

Q3 Operating FFO

C$78.5 mln

Q3 Operating FFO Per Unit

C$0.36


Reuters Recommended Reads

  • Nov 2 - Realty Income's Q3 revenue beats; raises 2026 AFFO per share outlook

  • Nov 2 - SITE Centers Q3 operating FFO swings to loss as property sales reduce income

  • Nov 2 - Vornado Realty Trust Q3 adjusted FFO per share rises on rent commencements


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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