Flagship Communities Real Estate Investment Trust (TSE:MHC.UN) Sets New 52-Week High - Still a 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) shares reached a new 52-week high on Tuesday . The company traded as high as C$26.20 and last traded at C$26.20, with a volume of 1100 shares. The stock had previously closed at C$26.00.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on MHC.UN shares. TD Securities increased their price objective on Flagship Communities Real Estate Investment Trust from C$20.00 to C$21.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Scotiabank raised their price target on Flagship Communities Real Estate Investment Trust from C$20.00 to C$22.00 and gave the company an "outperform" rating in a report on Thursday, May 22nd. Raymond James Financial lifted their price objective on Flagship Communities Real Estate Investment Trust from C$22.25 to C$22.75 and gave the company a "strong-buy" rating in a report on Friday, August 8th. Royal Bank Of Canada lifted their target price on Flagship Communities Real Estate Investment Trust from C$20.00 to C$21.00 and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Finally, National Bankshares boosted 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 report on Thursday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to data from MarketBeat, Flagship Communities Real Estate Investment Trust currently has an average rating of "Buy" and a consensus target price of C$21.50.

Flagship Communities Real Estate Investment Trust Stock Performance

The business has a fifty day moving average price of C$25.29 and a 200 day moving average price of C$23.84. The company has a market cap of C$511.01 million, a price-to-earnings ratio of 5.56 and a beta of 0.38.

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.