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Flagship Communities Real Estate Investment Trust (TSE:MHC.U)
:MHC.U
Earnings Data
Report Date
Mar 12, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
-0.13Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 13, 2024
|% Change Since: -26.92%
|Next Earnings Date:Mar 12, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted strong financial performance with significant revenue and AFFO growth, successful acquisitions, and a conservative capital structure. However, there were minor challenges with same community NOI margin and occupancy levels. Despite some interest rate volatility impacting refinancing plans, the overall outlook remains positive.Company Guidance
During the Flagship Communities REIT Third Quarter 2024 Earnings Call, the company reported strong financial performance and outlined several key metrics. Rental revenue, net operating income (NOI), funds from operations (FFO), and adjusted funds from operations (AFFO) all showed notable improvements, with same community revenue increasing over 12% and same community NOI rising by over 13% compared to the previous year. The NOI margin for the same community also improved by 0.6%. The company announced a 5% increase in its monthly cash distribution for the fourth consecutive year. Key achievements included the completion of its largest acquisition to date, expanding its portfolio with seven manufactured housing communities (MHCs) and entering new markets like Nashville, Tennessee, and West Virginia. Additionally, the business made progress in lot expansion efforts, adding 112 lots with the potential to add 638 more in the future. Financially, the company refinanced near-term debt at lower fixed interest rates and maintained a conservative capital structure with no significant debt maturities until 2030. The REIT reported third-quarter revenue of $23.2 million, an increase of nearly 28% from the previous year, and a same community occupancy rate of 85.7%. The weighted average mortgage interest rate stood at 4.41% with a term to maturity of 9.2 years.Strong Financial Performance
Rental revenue, NOI, FFO, and AFFO showed notable improvements. Same community revenue was up over 12% year-over-year, same community NOI was up over 13%, and same community NOI margin increased by 0.6%.
Increased Cash Distribution
Announced a 5% increase in monthly cash distribution for the fourth consecutive year, reflecting strong business performance.
Successful Acquisitions
Completed the largest acquisition by adding seven MHCs, expanding into Nashville, Tennessee, and establishing a presence in West Virginia.
Conservative Capital Structure
Refinanced near-term debt at lower fixed interest rates with no substantial debt maturities until 2030.
AFFO Growth
AFFO for Q3 2024 was $7.9 million, a 43.6% increase from the previous year. AFFO per unit increased by 20.7%.
Lot Expansion Strategy
Added 112 lots with plans for 638 additional lots, enhancing growth potential.
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Flagship Communities REIT Investment Trust (TSE:MHC.U) Earnings, Revenues Date & History
TSE:MHC.U Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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TSE:MHC.U Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Aug 10, 2022 | $20.25 | $20.89 | +3.16% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Flagship Communities Real Estate Investment Trust (TSE:MHC.U) report earnings?
Flagship Communities Real Estate Investment Trust (TSE:MHC.U) is schdueled to report earning on Mar 12, 2025, TBA Not Confirmed.
What is Flagship Communities Real Estate Investment Trust (TSE:MHC.U) earnings time?
Flagship Communities Real Estate Investment Trust (TSE:MHC.U) earnings time is at Mar 12, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TSE:MHC.U EPS forecast?
Currently, no data Available
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