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FINWIRES

First Capital REIT Reports Lower Q2 FFO, Net Income; Declares Distribution

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First Capital Real Estate Investment Trust (FCR-UN.TO) reported second-quarter funds from operations of C$59.5 million, or C$0.28 per unit, down from C$73.5 million, or C$0.34 per unit, in the year-ago quarter.

Analysts polled by FactSet expected C$0.35.

Net income for the quarter was C$24.2 million, or C$0.11 per unit, down from C$63.5 million, or C$0.30 per unit.

Analysts expected C$83.3 million, with one analyst reporting.

First Capital also declared a cash distribution of C$0.076 per REIT unit for the month of August, or C$0.912 per REIT unit on an annualized basis. The distribution will be paid Sept. 15 to unitholders of record as at Aug. 31.

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