Flagship Communities Real Estate Investment Trust (TSE:MHC.UN) Reaches New 52-Week High - Here's Why

Flagship Communities Real Estate Investment Trust (TSE:MHC.UN - Get Free Report) shares reached a new 52-week high during trading on Monday . The company traded as high as C$18.50 and last traded at C$25.26, with a volume of 1301 shares changing hands. The stock had previously closed at C$24.60.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MHC.UN shares. Raymond James Financial raised their price target on Flagship Communities Real Estate Investment Trust from C$20.75 to C$21.50 and gave the stock a "strong-buy" rating in a research note on Thursday, May 22nd. Royal Bank Of Canada raised their price target on Flagship Communities Real Estate Investment Trust from C$20.00 to C$21.00 and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. National Bankshares raised their price target on Flagship Communities Real Estate Investment Trust from C$20.00 to C$21.75 and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Desjardins raised their price target on Flagship Communities Real Estate Investment Trust from C$19.50 to C$20.50 and gave the stock a "buy" rating in a research note on Friday, March 14th. Finally, Scotiabank raised their price target on Flagship Communities Real Estate Investment Trust from C$20.00 to C$22.00 and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Flagship Communities Real Estate Investment Trust has a consensus rating of "Buy" and a consensus price target of C$21.29.

Flagship Communities Real Estate Investment Trust Price Performance

The firm has a 50-day simple moving average of C$24.45 and a two-hundred day simple moving average of C$22.57. The company has a market cap of C$359.01 million, a PE ratio of 5.39 and a beta of 0.28.

Flagship Communities Real Estate Investment Trust Company Profile

Flagship Communities REIT is an open-ended real estate investment trust. It is formed for the purpose of owning and operating a portfolio of income-producing manufactured housing communities and related assets, all of which are located in The United States. The objective of the trust is to provide unitholders with predictable, sustainable and growing cash distributions.