Flagship Communities Real Estate Investment Trust (TSE:MHC.UN) Sets New 52-Week High – What’s Next?

Flagship Communities Real Estate Investment Trust (TSE:MHC.UN)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as C$17.40 and last traded at C$24.49, with a volume of 17002 shares traded. The stock had previously closed at C$24.50.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Desjardins increased their price objective 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 report on Friday, March 14th. Raymond James increased their price target on Flagship Communities Real Estate Investment Trust from C$19.00 to C$20.00 and gave the company a “strong-buy” rating in a report on Friday, March 14th. Finally, National Bankshares boosted their price objective on Flagship Communities Real Estate Investment Trust from C$20.00 to C$21.00 and gave the stock an “outperform” rating in a research note on Friday, March 14th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$20.10.

Flagship Communities Real Estate Investment Trust Stock Performance

The company has a 50 day moving average of C$21.38 and a 200 day moving average of C$20.90. The stock has a market capitalization of C$346.29 million, a price-to-earnings ratio of 5.20 and a beta of 0.28.

About Flagship Communities Real Estate Investment Trust

Flagship Communities Real Estate Investment Trust is an internally managed, unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario. The REIT has been formed to own and operate a portfolio of income-producing manufactured housing communities located in Kentucky, Indiana, Ohio, Tennessee, Arkansas, Missouri, and Illinois, including a fleet of manufactured homes for lease to residents of such housing communities.