Flagship Communities Real Estate Investment Trust (TSE:MHC.UN) Trading Up 1.1% - What's Next?

Key Points

• Flagship Communities Real Estate Investment Trust (TSE:MHC.UN) shares rose by 1.1% to trade at C$26.40, amid significantly lower trading volume compared to the average.
• Wall Street analysts have increased their price target for the company to C$22.75, maintaining a "strong-buy" rating, contributing to an average rating of "Buy" with a consensus target price of C$21.50.
• The REIT, which focuses on owning and operating income-producing manufactured housing communities in the U.S., has a market capitalization of C$512.21 million and a low P/E ratio of 5.42.

Shares of Flagship Communities Real Estate Investment Trust (TSE:MHC.UN - Get Free Report) were up 1.1% on Tuesday . The stock traded as high as C$26.40 and last traded at C$26.40. Approximately 400 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 2,791 shares. The stock had previously closed at C$26.11.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial upped 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 research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of C$21.50.

Flagship Communities Real Estate Investment Trust Trading Up 1.1%

The stock has a market capitalization of C$512.21 million, a P/E ratio of 5.42 and a beta of 0.38. The business has a 50-day moving average price of C$25.41 and a 200 day moving average price of C$24.14.

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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