Firm Capital Property Trust · TSX:FCD.UN
Firm Capital Property Trust — Shareholder Meeting (June 2024)
20 slides from Firm Capital Property Trust's shareholder meeting presentation, Jun 20, 2024
Slide 1: 2024 Annual & Special Meeting of Unitholders
TSX: FCD.UN 2024 ANNUAL & SPECIAL MEETING OF UNITHOLDERS. FIRM CAPITAL PROPERTY TRUST (TSX: FCD.UN) THURSDAY, JUNE 20, 2024 AT 10:00 A.M. TO 11:00 A.M. EDT Register to listen to the Annual and Special Meeting of Unitholders conference call – June 20, 2024
Slide 2: Contents
Contents TOTAL RETURN ON INVESTMENT 3 BENEFIT TO UNITHOLDERS 12 DISTRIBUTION GROWTH 4 MORTGAGE RE-FINANCING & CONTRACTUAL OBLIGATIONS 13 TAX DEFERRAL OPPORTUNITY 5 PORTFOLIO OVERVIEW 14 NAV GROWTH 6 TENANT SUMMARY 15 FINANCIAL HIGHLIGHTS Q4/2023 7 PORTFOLIO GROWTH 16 FINANCIAL HIGHLIGHTS Q1/2024 8 B
Slide 3: Annualized Total Return on Investment
Annualized Total Return on Investment Since Inception, a $100 Investment in FCPT Would be Worth $296 Today! Note: Annualized Total Return on Investment includes stock price plus accumulated distributions from inception of November 29, 2012 to May 31, 2024. Disciplined Investing ● Capital Preservatio
Slide 4: Distribution Growth
Distribution Growth Disciplined Investing ● Capital Preservation 4
Slide 5: Tax Deferral Opportunity
Tax Deferral Opportunity The Trust is highly tax efficient with a Return of Capital component. TAX YEAR 2023 2022 2021 2020 RETURN OF CAPITAL 88% 91% 48% 100% CAPITAL GAINS 11% 9% 52% 0% 100% 100% 100% 100% CAPITAL GAINS @ 50% TAX 6.0% 4.4% 26% 0% RETURN OF CAPITAL 88% 91% 48% 100% TOTAL TAX EFFICIE
Slide 6: Net Asset Value Growth
Net Asset Value Growth ($ per unit) Disciplined Investing ● Capital Preservation 6
Slide 7: Q4 2023 Financial Highlights
Q4 2023 Financial Highlights ($ millions, except per unit or % amounts) Quarter Ended Quarter Ended Quarter Ended Metric Dec. 31, 2023 Sept. 30, 2023 Dec. 31, 2022 NOI $9.5 $9.0 $9.2 AFFO/Unit $0.128 $0.114 $0.116 NAV/Unit $7.48 $7.46 $7.64 Distributions/Unit $0.130 $0.130 $0.130 Quarterly AFFO payo
Slide 8: Q1/2024 Financial Highlights
Q1/2024 Financial Highlights ($ millions, except per unit or % amounts) Quarter Ended Quarter Ended Quarter Ended Metric Mar. 31, 2024 Dec. 31, 2023 Mar. 31, 2023 NOI $9.3 $9.5 $9.2 AFFO/Unit $0.120 $0.128 $0.108 NAV/Unit $7.62 $7.48 $7.65 Distributions/Unit $0.130 $0.130 $0.130 Quarterly AFFO payou
Slide 9: Steady Rent Increases
Steady Rent Increases Quarter Ended Quarter Ended Mar. 31, 2024 Mar. 31, 2023 Investment Portfolio Rent Rent Change Retail(1) $18.96 $18.30 +4% Industrial(1) $8.33 $7.86 +6% Multi-Residential(2) $1,448 $1,249 +16% Manufactured Home Communities(2) $624 $611 +2% (1) Rent per square foot. (2) Rent per
Slide 10: The Canadian REIT: An Attractive Investment
The Canadian REIT: An Attractive Investment 1 2 3 4 5 Offers Attractive Opportunity Stable to Invest Diversified Experienced Alongside Tax Deferral Distributions Portfolio with Board & Generational Opportunity While Quality Tenants Strong Owners of with Return of Offering and Alignment of Real Estat
Slide 11: Investment Highlights
Investment Highlights • 10.34%* distribution yield • +90% Return of Capital expected for 2024 distributions (prior to capital gains on asset sales) Stable & Growing Cash Flows • Increased distributions 9 times over the last 10 years, rising from $0.35/Unit per annum to $0.52/Unit per annum (a 49% in
Slide 12: Benefit to Unitholders
Benefit to Unitholders Liquidity • Daily trading volume in excess of 14,300 units per day • Debt to GBV approximately 52.2% (53% Q4) • Approximately $19.0MM available on credit facility Strong Balance Sheet • The Trust has 2 unencumbered properties to address further capital requirements if needed.
Slide 13: Mortgage Re-Financing Update & Contractual Obligations
Mortgage Re-Financing Update & Contractual Obligations • At the beginning of 2024, the Trust had $92.1 million or 33% of its total mortgages, maturing in 2024. • During Q1/2024, the Trust refinanced 7 retail properties that are part of the joint arrangement within the Crombie Retail Portfolio for ap
Slide 14: Portfolio Overview
Portfolio Overview Portfolio by Province Portfolio by Asset Class (by NOI) (by NOI) Portfolio is Diversified Across Geographies, Asset Classes and Tenants Disciplined Investing ● Capital Preservation 14
Slide 15: Tenant Summary
Tenant Summary Largest Tenant Contributes 11.2% of Net Rent and Top 10 Tenants Comprise 31.3% of Net Rent Disciplined Investing ● Capital Preservation 15
Slide 16: Portfolio Growth
Portfolio Growth ($ Millions) Disciplined Investing ● Capital Preservation 16
Slide 17: Board of Trustees
Board of Trustees Stanley Goldfarb • CEO of Goldfarb Management Services Limited Chairman, Independent Trustee • Chairman & Director of Firm Capital Mortgage Investment Corporation (TSX: FC) • Director of Mortgage Investment Corporation (TSX:FC) • Chairman & Trustee of Firm Capital Apartment REIT (T
Slide 18: Market Outlook – 2024 & Beyond
Market Outlook – 2024 & Beyond • Moving forward, we will continue to monitor and assess the segments of the economy that affect our performance. The current inflationary environment, which has shown some signs of moderating the current economic environment continues to place inflationary pressures.
Slide 19: For Additional Information, Please Contact
FOR ADDITIONAL INFORMATION, PLEASE CONTACT: Sandy Poklar Robert McKee Ryan Lim Victoria Moayedi Chief Operating Officer President & CEO Chief Financial Officer Director, Investor Relations & Firm Capital Corporation Firm Capital Property Trust Firm Capital Corporation Compliance Officer T: 416.635.0
Slide 20: Disclaimer
Disclaimer This presentation is for informational purposes only and not intended for solicitation. This presentation may not provide full disclosure of all material facts relating to the investment and or security being offered. If applicable, Investors should read the most recent Financial Reports
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