GlobeNewswire·Nov 11, 2026, 5:00 PM ET

Flagship Communities Real Estate Investment Trust Announces Third Quarter 2026 Results

Flagship Communities REIT reported third quarter 2026 rental revenue of $30.7 million, a 17.6% increase compared to $26.1 million in the same period in 2025.
Net income for the quarter was $25.9 million, representing a 5.3% increase from $24.6 million in Q3 2025.
Net Operating Income (NOI) rose to $20.0 million, an 18.2% increase from $17.0 million, while the NOI margin improved to 65.3%.
Same Community Revenue increased 6.9% to $27.5 million, and Same Community NOI grew 7.2% to $17.9 million.
Funds from operations (FFO) per diluted unit was $0.390, a 6.8% increase, while Adjusted Funds from Operations (AFFO) per diluted unit was $0.350, a 5.1% increase.
Rent collections reached 99.2% for the quarter, up 0.4% from the previous year.
The REIT announced an intention to launch a Normal Course Issuer Bid to repurchase up to 1,642,039 trust units, representing approximately 10% of the public float.
Flagship expanded its portfolio in Kentucky by acquiring a 125-lot manufactured housing community for approximately US$2.0 million.
Net Asset Value (NAV) stood at $856.3 million as of September 30, 2026, up from $804.8 million as of December 31, 2025.
Total portfolio occupancy was 84.6% at quarter-end, an increase from 82.9% at year-end 2025, with Same Community occupancy at 85.2%.
The Board approved a 5.9% increase in monthly cash distributions to US$0.05771 per unit, marking the sixth consecutive year of distribution increases.
The REIT maintains a debt-to-gross book value ratio of 38.2% with a weighted average mortgage interest rate of 4.54% and no substantial debt maturities until 2030.
The portfolio now includes 89 communities with 17,045 total lots, operating across eight contiguous states.

Company: Flagship Communities Real Estate Investment Trust
Keywords: Toronto Stock Exchange:MHC-U, Flagship Communities Real Estate Investment Trust