FirstService Residential Takes Over Management of The Code Hotel Community
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 3 days ago
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Should l Buy FSV?
Source: Newsfilter
- Management Transition: FirstService Residential has assumed management of The Code, a hotel residence community in Austin's Zilker neighborhood, featuring 178 fully furnished units that blend hospitality services, enhancing living options for both short-term and extended stays in the area.
- Partnership Rationale: Bill Knauss, President of Pearlstone Partners, emphasized the choice of FirstService Residential due to their expertise in managing high-rise and mixed-use communities, ensuring effective day-to-day and long-term support for The Code, reflecting a successful partnership history.
- Amenities and Services: The Code offers shared amenities such as concierge services, a resort-style pool, rooftop terrace, and wellness spaces, aimed at creating a high-quality living environment that reflects Austin's creative character and lifestyle.
- Operational Commitment: FirstService Residential is committed to delivering operational excellence, protecting the long-term value of the property, and ensuring a high-quality experience for residents and owners through its dedicated team and systems, further solidifying its leadership in property management.
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Analyst Views on FSV
Wall Street analysts forecast FSV stock price to rise
7 Analyst Rating
7 Buy
0 Hold
0 Sell
Strong Buy
Current: 134.460
Low
205.00
Averages
211.83
High
216.00
Current: 134.460
Low
205.00
Averages
211.83
High
216.00
About FSV
FirstService Corporation is a provider of residential property management and other essential property services to residential and commercial customers. Its segments include FirstService Residential and FirstService Brands. FirstService Residential is a full-service property manager and, in many markets, provides a full range of ancillary services primarily in the areas: on-site staffing, including building engineering and maintenance, full-service amenity management, security, concierge and front desk personnel; proprietary banking and insurance products, and energy conservation and management solutions. FirstService Brands provides a range of essential property services to residential and commercial customers in North America through its own locations and franchise networks. Its principal brands include First Onsite Property Restoration, Paul Davis Restoration, Roofing Corp of America, Century Fire Protection, California Closets, CertaPro Painters, and Pillar to Post Home Inspectors.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
FirstService Residential Takes Over Management of The Code Hotel Community
- Management Transition: FirstService Residential has assumed management of The Code, a hotel residence community in Austin's Zilker neighborhood, featuring 178 fully furnished units that blend hospitality services, enhancing living options for both short-term and extended stays in the area.
- Partnership Rationale: Bill Knauss, President of Pearlstone Partners, emphasized the choice of FirstService Residential due to their expertise in managing high-rise and mixed-use communities, ensuring effective day-to-day and long-term support for The Code, reflecting a successful partnership history.
- Amenities and Services: The Code offers shared amenities such as concierge services, a resort-style pool, rooftop terrace, and wellness spaces, aimed at creating a high-quality living environment that reflects Austin's creative character and lifestyle.
- Operational Commitment: FirstService Residential is committed to delivering operational excellence, protecting the long-term value of the property, and ensuring a high-quality experience for residents and owners through its dedicated team and systems, further solidifying its leadership in property management.
See More
FirstService Corporation Declares Quarterly Dividend
- Quarterly Dividend Announcement: FirstService Corporation has declared a quarterly dividend of $0.305 per share, consistent with previous distributions, indicating stable cash flow and profitability, which enhances investor confidence.
- Dividend Yield: The forward yield of 0.69% reflects the company's attractiveness in the current market environment, potentially drawing in income-seeking investors looking for reliable returns.
- Shareholder Record Date: The dividend will be payable on July 7, with a record date of June 30 and an ex-dividend date also on June 30, ensuring shareholders receive their payouts promptly, thereby increasing their willingness to hold shares.
- Financial Health: The dividend announcement aligns with FirstService's historical earnings data, demonstrating the company's ability to maintain stable dividend payments while continuing to grow, further solidifying its competitive position in the market.
See More
FirstService Declares Quarterly Cash Dividend
- Quarterly Cash Dividend: FirstService's Board of Directors has declared a cash dividend of $0.305 per Common Share, payable on July 7, 2026, reflecting the company's stable cash flow and commitment to shareholder returns.
- Shareholder Record Date: The dividend will be paid to holders of Common Shares of record at the close of business on June 30, 2026, ensuring that shareholders hold their shares before this key date, thereby enhancing investor confidence.
- Company Background: FirstService is a leader in the North American property services sector, generating over $5.5 billion in annual revenues and employing approximately 30,000 people, showcasing its strong market position and growth potential.
- Compliance and Risk Factors: The company highlighted potential future risks, including changes in economic conditions and compliance with government regulations, emphasizing the importance of transparency for investors.
See More
FIRSTSERVICE CORP: SCOTIABANK LOWERS TARGET PRICE FROM $205 TO $190
First Service Corp Update: Scotia Bank has reduced its target price for First Service Corp shares.
New Target Price: The new target price is set at $190, down from the previous $205.
See More
FirstService Q1 Earnings Exceed Expectations
- Earnings Beat: FirstService reported a Q1 non-GAAP EPS of $0.95, exceeding expectations by $0.06, which highlights the company's ongoing profitability and strengthens investor confidence.
- Significant Revenue Growth: The company achieved Q1 revenue of $1.32 billion, a 5.6% year-over-year increase, surpassing estimates by $20 million, indicating robust demand and competitive positioning in the market.
- Adjusted EBITDA Increase: Adjusted EBITDA rose 2% to $105.7 million, reflecting ongoing efforts in cost control and operational efficiency, which enhances the sustainability of future profits despite modest growth.
- Positive Market Reaction: The strong Q1 performance is likely to attract more investor interest, enhancing the company's standing in the industry and laying a foundation for future growth, particularly in the current economic climate.
See More
FIRSTSERVICE CORP: CIBC LOWERS TARGET PRICE FROM $208 TO $204
- Target Price Adjustment: FirstService Corp has reduced its target price for CIBC from $208 to $204.
- Market Impact: This adjustment reflects changes in market conditions and expectations regarding CIBC's performance.
See More
FirstService Residential Takes Over Management of The Code Hotel Community
- Management Transition: FirstService Residential has assumed management of The Code, a hotel residence community in Austin's Zilker neighborhood, featuring 178 fully furnished units that blend hospitality services, enhancing living options for both short-term and extended stays in the area.
- Partnership Rationale: Bill Knauss, President of Pearlstone Partners, emphasized the choice of FirstService Residential due to their expertise in managing high-rise and mixed-use communities, ensuring effective day-to-day and long-term support for The Code, reflecting a successful partnership history.
- Amenities and Services: The Code offers shared amenities such as concierge services, a resort-style pool, rooftop terrace, and wellness spaces, aimed at creating a high-quality living environment that reflects Austin's creative character and lifestyle.
- Operational Commitment: FirstService Residential is committed to delivering operational excellence, protecting the long-term value of the property, and ensuring a high-quality experience for residents and owners through its dedicated team and systems, further solidifying its leadership in property management.
See More
FirstService Corporation Declares Quarterly Dividend
- Quarterly Dividend Announcement: FirstService Corporation has declared a quarterly dividend of $0.305 per share, consistent with previous distributions, indicating stable cash flow and profitability, which enhances investor confidence.
- Dividend Yield: The forward yield of 0.69% reflects the company's attractiveness in the current market environment, potentially drawing in income-seeking investors looking for reliable returns.
- Shareholder Record Date: The dividend will be payable on July 7, with a record date of June 30 and an ex-dividend date also on June 30, ensuring shareholders receive their payouts promptly, thereby increasing their willingness to hold shares.
- Financial Health: The dividend announcement aligns with FirstService's historical earnings data, demonstrating the company's ability to maintain stable dividend payments while continuing to grow, further solidifying its competitive position in the market.
See More
FirstService Declares Quarterly Cash Dividend
- Quarterly Cash Dividend: FirstService's Board of Directors has declared a cash dividend of $0.305 per Common Share, payable on July 7, 2026, reflecting the company's stable cash flow and commitment to shareholder returns.
- Shareholder Record Date: The dividend will be paid to holders of Common Shares of record at the close of business on June 30, 2026, ensuring that shareholders hold their shares before this key date, thereby enhancing investor confidence.
- Company Background: FirstService is a leader in the North American property services sector, generating over $5.5 billion in annual revenues and employing approximately 30,000 people, showcasing its strong market position and growth potential.
- Compliance and Risk Factors: The company highlighted potential future risks, including changes in economic conditions and compliance with government regulations, emphasizing the importance of transparency for investors.
See More
FIRSTSERVICE CORP: SCOTIABANK LOWERS TARGET PRICE FROM $205 TO $190
First Service Corp Update: Scotia Bank has reduced its target price for First Service Corp shares.
New Target Price: The new target price is set at $190, down from the previous $205.
See More
FirstService Q1 Earnings Exceed Expectations
- Earnings Beat: FirstService reported a Q1 non-GAAP EPS of $0.95, exceeding expectations by $0.06, which highlights the company's ongoing profitability and strengthens investor confidence.
- Significant Revenue Growth: The company achieved Q1 revenue of $1.32 billion, a 5.6% year-over-year increase, surpassing estimates by $20 million, indicating robust demand and competitive positioning in the market.
- Adjusted EBITDA Increase: Adjusted EBITDA rose 2% to $105.7 million, reflecting ongoing efforts in cost control and operational efficiency, which enhances the sustainability of future profits despite modest growth.
- Positive Market Reaction: The strong Q1 performance is likely to attract more investor interest, enhancing the company's standing in the industry and laying a foundation for future growth, particularly in the current economic climate.
See More
FIRSTSERVICE CORP: CIBC LOWERS TARGET PRICE FROM $208 TO $204
- Target Price Adjustment: FirstService Corp has reduced its target price for CIBC from $208 to $204.
- Market Impact: This adjustment reflects changes in market conditions and expectations regarding CIBC's performance.
See More
