From GlobeNewswire: 2025-05-08 17:01:00

Firm Capital Property Trust (FCPT) reported its financial results for Q1 2025, with a diverse portfolio including 64 commercial properties, 5 multi-residential complexes, and 4 Manufactured Home Communities. The portfolio is geographically spread out, with 51% of NOI from grocery anchored retail and 25% from industrial properties.

Tenant diversification is a key strength, with no tenant accounting for more than 12.9% of total net rent. The top 10 tenants are large national tenants, making up 32.2% of total net rent. FCPT has a manageable mortgage maturity profile, with $13.2 million and $41.9 million coming due in 2025 and 2026, respectively.

In Q1 2025, FCPT saw a 3% decrease in Adjusted Funds From Operations (AFFO) compared to the same period in 2024. AFFO per Unit decreased by 2% to $0.117. Net income was approximately $4.4 million, with a Net Asset Value (NAV) per Unit of $7.82, a 3% increase from Q1 2024.

FCPT has a Distribution Reinvestment Plan (DRIP) and Unit Purchase Plan (UPP) in place for Unitholders. Management and trustees have not participated in the plans to date and own approximately 10% of the issued and outstanding trust units. Firm Capital Property Trust aims to create long-term value through disciplined investing for stable income.

Forward-looking statements in the press release caution potential risks and uncertainties. Certain financial information presented includes non-International Financial Reporting Standards (IFRS) measures like NOI, Same Store NOI, FFO, and AFFO. These metrics are used by real estate investment entities for performance and cash flow measurement.



Read more at GlobeNewswire:: Firm Capital Property Trust Reports Q1/2025 Results