Source: Firm Capital Mortgage Investment Corporation
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  • Firm Capital Property Trust (FCD.UN) announced its intention to launch a normal course issuer bid
  • Between July 18, 2022 and July 17, 2023, Firm Capital may purchase up to 3,439,640 trust units
  • Daily purchases will be limited to 8,064 trust units
  • Firm Capital Property Trust is an open-ended real estate investment trust
  • Firm Capital Property Trust (FCD.UN) is up 0.47 per cent on the day, trading at C$6.38

Firm Capital Property Trust (FCD.UN) announced its intention to launch a normal course issuer bid.

Between July 18, 2022 and July 17, 2023, Firm Capital may purchase up to 3,439,640 trust units. Firm Capital will pay the market price for any units.

Daily purchases under the NCIB will be limited to 8,064 trust units, other than block purchases.

All trust units purchased by FCPT under the NCIB will be cancelled.

As of July 8, 2022, there were 37,549,280 trust units outstanding, and the public float was 34,396,409 trust units.

Firm Capital believes that the market price of its trust units is attractive and that the purchase would be in the best interests of unitholders.

Firm Capital Property Trust is an open-ended real estate investment trust focused on creating long-term value for unit-holders, through capital preservation and investing to achieve stable distributable income.

The company operates in five segments: Grocery Anchored Retail, Non-Grocery Anchored Retail, Industrial, Multi-Residential, and Core Service Office Provider. Most of its revenues are derived from the Grocery anchored retail segment.

In partnership with management and industry leaders, the company plans to own and co-own a diversified property portfolio of multi-residential, flex industrial, net lease convenience retail, and core service provider professional space.

Firm Capital Property Trust (FCD.UN) is up 0.47 per cent on the day, trading at C$6.38.

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