Flagship Communities REIT (T:MHC.U)
Business Focus: Residential REITs
| Sector: Real Estate | Industry: Residential REITs |
| Company Contact | |
| Address: | 467 Erlanger Road ERLANGER KY 41018 |
| Tel: | N/A |
| Website: | https://flagshipcommunities.com |
| IR: | See website |
| Key People | ||
| Kurtis Keeney President, Chief Executive Officer, Trustee | Eddie Carlisle Chief Financial Office, Secretary | Nathan Smith Chief Investment Officer, Trustee |
| Business Overview |
| Flagship Communities Real Estate Investment Trust (the REIT) is an internally managed open-ended real estate investment trust. The REIT is formed for the purpose of owning and operating a portfolio of manufactured housing communities (MHC) located in Kentucky, Indiana, Ohio, Tennessee, Illinois, Arkansas, and Missouri, including a fleet of manufactured homes for lease to residents of such housing communities. The REIT owns and operates approximately 67 total communities comprising a total of 11,876 lots. Its portfolio includes JACKSONVILLE Anderson Pointe, RIVERTON Hilltop Pointe, SPRINGFIELD Woodland Acres Pointe, EVANSVILLE Carolina Pointe, NEWBURGH Heritage Hills Pointe East, NEWBURGH Heritage Hills Pointe West, SCOTTSBURG Amberly Pointe, NEW SALISBURY Berkshire Pointe, SELLERSBURG Indian Oaks Pointe, SCOTTSBURG Rosewood Pointe, CORYDON Seven Oaks Pointe, COLUMBUS Tannehill Pointe, LOUISVILLE Ashley Pointe, LOUISVILLE Autumn Lake Pointe, and LOUISVILLE Johnsontown Pointe. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Flagship Communities Real Est Invst Trst revenues increased 21% to $71.1M. Net income increased 53% to $65.1M. Revenues reflect Rental revenue increase of 20% to $60.5M, Property Related Operating Rev - Other increase of 26% to $8.1M, Property Related Operating Rev Other increase of 15% to $2.4M. Net income benefited from Fair value adjustment - investment prope increase from $8M to $42M (income). |
| Employees: | 200 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $677.91M as of Dec 31, 2023 |
| Annual revenue (TTM): | $71.05M as of Dec 31, 2023 |
| EBITDA (TTM): | $41.13M as of Dec 31, 2023 |
| Net annual income (TTM): | $65.10M as of Dec 31, 2023 |
| Free cash flow (TTM): | $26.73M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $444.60M as of Dec 31, 2023 |
| Shares outstanding: | 15,492,056 as of Dec 31, 2023 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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