Flagship Communities Real Estate Investment Trust (TSE:MHC.UN) Sets New 12-Month High – Here’s What Happened

Flagship Communities Real Estate Investment Trust (TSE:MHC.UN)’s share price reached a new 52-week high during mid-day 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 trading hands. The stock had previously closed at C$24.60.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Raymond James Financial raised their price target on shares of Flagship Communities Real Estate Investment Trust from C$20.75 to C$21.50 and gave the stock a “strong-buy” rating in a report on Thursday, May 22nd. Scotiabank lifted their price target on shares of Flagship Communities Real Estate Investment Trust from C$20.00 to C$22.00 and gave the company an “outperform” rating in a research note on Thursday, May 22nd. TD Securities lifted their price target on shares of Flagship Communities Real Estate Investment Trust from C$20.00 to C$21.00 and gave the company a “buy” rating in a research note on Thursday, May 22nd. National Bankshares lifted their price target on shares of Flagship Communities Real Estate Investment Trust from C$20.00 to C$21.75 and gave the company an “outperform” rating in a research note on Thursday, May 22nd. Finally, Desjardins lifted their price target on shares of Flagship Communities Real Estate Investment Trust from C$19.50 to C$20.50 and gave the company a “buy” rating in a research note on Friday, March 14th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of C$21.29.

Flagship Communities Real Estate Investment Trust Trading Up 3.2%

The stock’s fifty day moving average is C$24.40 and its two-hundred day moving average is C$22.53. The company has a market capitalization 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.