Flagship Communities Real Estate Investment Trust (TSE:MHC.UN) Trading Down 2% - Here's What Happened

Key Points

• Flagship Communities Real Estate Investment Trust saw its stock price decline by 2%, dropping from C$25.00 to C$24.50 on Friday, with a trading volume of 1,353 shares, significantly lower than its average.
• Analysts have generally given the stock a positive outlook, with multiple upgrades to target prices, ranging from C$21.00 to C$22.00, and several firms awarding it an "outperform" or "strong-buy" rating.
• The company, which operates a portfolio of income-producing manufactured housing communities in the U.S., has a market cap of C$346.43 million and a P/E ratio of 5.20.

Flagship Communities Real Estate Investment Trust (TSE:MHC.UN - Get Free Report)'s stock price dropped 2% on Friday . The company traded as low as C$24.39 and last traded at C$24.50. Approximately 1,353 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 2,493 shares. The stock had previously closed at C$25.00.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MHC.UN. TD Securities upped 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 research note on Thursday, May 22nd. Scotiabank increased their price objective on Flagship Communities Real Estate Investment Trust from C$20.00 to C$22.00 and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Raymond James Financial raised their target price 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 report on Thursday, May 22nd. Royal Bank Of Canada lifted their price objective 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 lifted their price objective 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. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Flagship Communities Real Estate Investment Trust currently has an average rating of "Buy" and a consensus price target of C$21.29.

Flagship Communities Real Estate Investment Trust Stock Down 2.0%

The stock has a market capitalization of C$346.43 million, a price-to-earnings ratio of 5.20 and a beta of 0.28. The business has a 50-day simple moving average of C$24.87 and a two-hundred day simple moving average of C$23.10.

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.