Flagship Communities Real Estate Investment Trust (TSE:MHC.UN) Hits New 1-Year High – Time to Buy?

Flagship Communities Real Estate Investment Trust (TSE:MHC.UN)’s stock price hit a new 52-week high during trading on Friday . The stock 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 Analyst Weigh In

A number of analysts have recently commented on the company. Raymond James lifted their target price on 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. National Bankshares boosted 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 note on Friday, March 14th. Finally, Desjardins increased their price objective on 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. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$20.10.

Flagship Communities Real Estate Investment Trust Price Performance

The company has a 50 day moving average price of C$21.38 and a 200 day moving average price of C$20.90. The firm has a market cap of C$346.29 million, a PE 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.