Flagship Communities Real Estate Investment Trust (TSE:MHC.UN) has received a consensus “Buy” rating from the six investment firms currently covering the stock, according to MarketBeat Ratings. Of these analysts, five issued a “Buy” recommendation, while one gave the REIT a “Strong Buy.” The average 12-month price target is now set at C$21.29.
Price Targets Raised by Multiple Brokerages
Several Canadian brokerages recently increased their target prices for Flagship Communities:
TD Securities raised its target from C$20.00 to C$21.00 and gave the stock a “Buy” rating.
National Bankshares boosted its forecast from C$20.00 to C$21.75 with an “Outperform” rating.
Raymond James raised its price target from C$20.75 to C$21.50 and issued a “Strong Buy” recommendation.
Royal Bank of Canada lifted its target from C$20.00 to C$21.00, also labeling the stock “Outperform.”
Scotiabank raised its projection to C$22.00 and joined others in assigning an “Outperform” rating.
All ratings were published in reports dated May 22.
Stock Performance and Market Overview
Flagship Communities REIT opened at C$24.30 on Monday. The REIT has a 12-month trading range between C$18.00 and C$25.50. It currently trades above its 50-day moving average of C$23.86 and its 200-day moving average of C$22.23.
The trust has a market capitalization of C$343.60 million and a price-to-earnings (PE) ratio of 5.16. Its beta is 0.28, indicating relatively low volatility compared to the broader market.
About Flagship Communities REIT
Flagship Communities Real Estate Investment Trust is an open-ended trust that owns and operates manufactured housing communities in the United States. Its core mission is to deliver stable, predictable, and growing cash distributions to its unitholders.
Is It Time to Invest?
Despite the strong analyst ratings, MarketBeat notes that other stocks are being quietly recommended by top-performing analysts. While Flagship Communities REIT is favorably rated, it may not be among the top picks based on current market dynamics.
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