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

Flagship Communities Real Estate Investment Trust (TSE:MHC.UN) hit a new 52-week high on Friday . The company traded as high as C$17.50 and last traded at C$24.47, with a volume of 3802 shares traded. The stock had previously closed at C$23.50.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MHC.UN shares. National Bankshares raised 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 Friday, March 14th. Desjardins increased their price target on 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. Finally, Raymond James lifted their price objective on shares of Flagship Communities Real Estate Investment Trust from C$19.00 to C$20.00 and gave the stock a “strong-buy” rating in a research report on Friday, March 14th.

Flagship Communities Real Estate Investment Trust Price Performance

The company’s 50-day simple moving average is C$23.04 and its 200-day simple moving average is C$21.61. The stock has a market capitalization of C$352.79 million, a price-to-earnings ratio of 5.30 and a beta of 0.28.

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.