![]() ![]() ![]() “The relative affordability of the portfolio offering, the cost-prohibitive nature of moving a home and the fact that the bulk of Flagship’s tenants are homeowners create a sticky tenant base. Stanley said he believes fundamentals for the REIT remain strong despite the economic headwinds. Stanley said in a note.īut he reduced his multiple on Flagship Communities to reflect its limited trading liquidity and public float, “two restricting factors in periods of heightened market volatility.” As a result, his price target was cut to US$22.50 from US$24.00. “The tour reinforced our view that Flagship is well-positioned to weather economic headwinds given (1) its relative affordability (2) its highly stable cash flow profile and (3) its 4–5% revenue growth potential,” Mr. Flagship is the only pure-play, Canada-listed REIT that is focused on U.S. The average analyst price target is C$8.37, according to Refinitiv Eikon.ĭesjardins Securities analyst Kyle Stanley trimmed his price target on Flagship Communities REIT ( MHC-U-T) following a tour last week of its MHC and RV resorts in Cincinnati and northern Kentucky. Baretto said in a note.Īs such, he increased his 12-month target price to C$8.50 from $8, and reiterated a “buy” rating.Įlsewhere, Raymond James raised its target price to C$11 from C$10.50. Nonetheless, our asset valuation has increased by 12%, while our overall CG net asset value has increased by C$0.30/sh, to C$10.37/sh,” Mr. Milligan mine plan, with more conservative capex and opex estimates. “We have updated our estimates to reflect the new Mt. It leaves “comfortable balance sheet capacity” for other strategic initiatives, he said. The actions follow a difficult couple of years for Centerra that saw the expropriation of their flagship asset Kumtor, the suspension of their secondary cash cow project known as Oksut, and the recent departure of CEO Scott Perry.Ī number of large shareholders had been asking for a share buyback given that the company had enough cash on hand to represent about 70% of its market cap, Mr. ![]()
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