Flagship Communities Real Estate Investment Trust (TSE:MHC.UN) Reaches New 1-Year High - Should You Buy?

Key Points

• Flagship Communities Real Estate Investment Trust (TSE:MHC.UN) reached a new 52-week high, trading at C$26.20, with a total volume of 1,100 shares traded.
• Multiple analysts have raised their price targets for the stock, with average ratings indicating a strong buy sentiment and a consensus price target of C$21.50.
• Flagship Communities REIT focuses on owning and operating income-producing manufactured housing communities in the U.S., aiming to provide unitholders with sustainable cash distributions.

Flagship Communities Real Estate Investment Trust (TSE:MHC.UN - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The company traded as high as C$26.20 and last traded at C$26.20, with a volume of 1100 shares traded. The stock had previously closed at C$26.00.

Wall Street Analysts Forecast Growth

MHC.UN has been the subject of a number of analyst reports. TD Securities raised their price target on Flagship Communities Real Estate Investment Trust from C$20.00 to C$21.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Raymond James Financial raised their price target on Flagship Communities Real Estate Investment Trust from C$22.25 to C$22.75 and gave the stock a "strong-buy" rating in a report on Friday, August 8th. 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 report 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 report on Thursday, May 22nd. Finally, 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 report on Thursday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of C$21.50.

Flagship Communities Real Estate Investment Trust Stock Up 1.1%

The stock has a 50-day simple moving average of C$25.11 and a two-hundred day simple moving average of C$23.67. The firm has a market cap of C$510.08 million, a PE ratio of 5.40 and a beta of 0.38.

About Flagship Communities Real Estate Investment Trust

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.

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