Flagship Communities REIT initiated with an Outperform at RBC Capital

RBC Capital initiated coverage of Flagship Communities REIT with an Outperform rating and $21 price target. Flagship is “a unique offering for Canadian investors” as the only pure-play portfolio of U.S. based manufactured housing communities listed on the TSX, the analyst tells investors. The firm believes the REIT is poised to continue to deliver above-average organic growth and the REIT’s debt profile position it favourably against potential economic headwinds, the analyst added.