HomeMarket NewsRBC Rates Flagship Communities REIT with Outperform Rating Based on Growth Potential

RBC Rates Flagship Communities REIT with Outperform Rating Based on Growth Potential

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RBC Capital Markets initiated coverage on Flagship Communities Real Estate Investment Trust (OTCPK:MHCUF) on Tuesday, giving it an Outperform rating. RBC highlighted that the company is the only pure-play U.S. based manufactured housing community on the TSX stock exchange.

Analyst Tom Callaghan emphasized that the REIT is expected to continue experiencing above-average organic growth due to favorable supply and demand conditions in the industry.

Callaghan added, β€œAdditionally, the U.S. manufactured housing sector’s resilience and the REIT’s solid debt profile position it favorably against potential economic challenges.”

The REIT’s debt is not due until 2027, and all of its debt has fixed interest rates. This shields it from the recent rise in rates over the past 18 months.

Source: Benzinga.com

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