First Capital Realty says net income down for Q4 and for year ended Dec. 31

TORONTO – First Capital Realty (TSX: FCR) reports lower net income for the fourth quarter and for 2013.

The property developer and manager says its net income for the quarter ended Dec. 31 was $47.9 million, or 23 cents per diluted share.

That compares with $69.9 million, or 33 cents per share, for the same quarter in 2012.

For the year, First Capital reports a net income of $214.9 million, or $1.01 per share.

That’s down from $392.9 million, or $1.98 per share, for 2012.