Flagship Communities Real Estate Investment Trust (TSE:MHC.UN) Given Average Recommendation of “Buy” by Analysts

Shares of Flagship Communities Real Estate Investment Trust (TSE:MHC.UN) have been assigned an average recommendation of “Buy” from the six brokerages that are presently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is C$19.58.

Several brokerages have commented on MHC.UN. Canaccord Genuity Group set a C$19.00 target price on shares of Flagship Communities Real Estate Investment Trust and gave the stock a “buy” rating in a report on Thursday. Desjardins cut their price objective on shares of Flagship Communities Real Estate Investment Trust from C$21.00 to C$19.50 and set a “buy” rating on the stock in a research report on Thursday. National Bankshares set a C$19.75 price target on Flagship Communities Real Estate Investment Trust and gave the company an “outperform” rating in a report on Thursday. Raymond James lowered their price target on Flagship Communities Real Estate Investment Trust from C$20.75 to C$19.25 and set a “strong-buy” rating on the stock in a report on Thursday. Finally, Scotiabank lowered their price objective on shares of Flagship Communities Real Estate Investment Trust from C$21.50 to C$20.00 and set an “outperform” rating on the stock in a research note on Thursday.

Flagship Communities Real Estate Investment Trust Price Performance

Shares of MHC.UN traded down C$0.15 during trading hours on Thursday, reaching C$20.50. 1,150 shares of the company’s stock traded hands, compared to its average volume of 956. The stock has a fifty day simple moving average of C$21.72. The company has a market cap of C$289.87 million and a price-to-earnings ratio of 4.92. Flagship Communities Real Estate Investment Trust has a twelve month low of C$19.76 and a twelve month high of C$23.40.

Insider Activity at Flagship Communities Real Estate Investment Trust

In other news, Director Louis Marie Forbes acquired 2,000 shares of the firm’s stock in a transaction on Wednesday, April 24th. The shares were purchased at an average cost of C$15.35 per share, with a total value of C$30,700.00. 0.40% of the stock is owned by company insiders.

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.