Desjardins Cuts Flagship Communities Real Estate Investment Trust (TSE:MHC.UN) Price Target to C$19.50

Flagship Communities Real Estate Investment Trust (TSE:MHC.UN) had its price target reduced by Desjardins from C$21.00 to C$19.50 in a report released on Thursday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ price objective indicates a potential downside of 6.65% from the company’s current price.

Separately, Raymond James lifted their price objective on shares of Flagship Communities Real Estate Investment Trust from C$20.00 to C$20.50 and gave the stock an “outperform” rating in a report on Monday, January 8th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of C$19.58.

Flagship Communities Real Estate Investment Trust Trading Up 1.8 %

Flagship Communities Real Estate Investment Trust stock opened at C$20.89 on Thursday. The firm has a market capitalization of C$295.38 million and a P/E ratio of 4.97. The stock has a fifty day simple moving average of C$21.67. Flagship Communities Real Estate Investment Trust has a 12 month low of C$19.76 and a 12 month high of C$23.40.

Insiders Place Their Bets

In other news, Director Louis Marie Forbes purchased 2,000 shares of Flagship Communities Real Estate Investment Trust stock in a transaction dated Wednesday, April 24th. The stock was bought at an average price of C$15.35 per share, with a total value of C$30,700.00. 0.40% of the stock is currently owned by corporate 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.