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An announcement from Flagship Communities REIT Investment Trust ( ($TSE:MHC.UN) ) is now available.
Flagship Communities Real Estate Investment Trust announced strategic acquisitions worth US$79 million, expanding its presence in Indiana and Ohio. The acquisitions, expected to enhance the REIT’s adjusted funds from operations, include a manufactured housing community in Seymour, Indiana, and a portfolio of three communities in Greater Cincinnati, Ohio. These acquisitions align with Flagship’s strategy to acquire under-performing MHCs with significant vacancy, aiming for occupancy growth and lot expansion. The move is anticipated to generate economies of scale, operational synergies, and add value for unitholders through potential amenities and expansion opportunities.
The most recent analyst rating on ($TSE:MHC.UN) stock is a Buy with a C$23.25 price target. To see the full list of analyst forecasts on Flagship Communities REIT Investment Trust stock, see the TSE:MHC.UN Stock Forecast page.
More about Flagship Communities REIT Investment Trust
Flagship Communities Real Estate Investment Trust is a leading operator of affordable residential manufactured housing communities (MHCs) primarily serving working families seeking affordable home ownership. The REIT owns and operates residential living experiences and investment opportunities in family-oriented communities across Kentucky, Indiana, Ohio, Tennessee, Arkansas, Missouri, West Virginia, and Illinois.
YTD Price Performance: 26.03%
Average Trading Volume: 4,319
Technical Sentiment Signal: Buy
Current Market Cap: C$643.7M
Learn more about MHC.UN stock on TipRanks’ Stock Analysis page.