Flagship Communities Real Estate Investment Trust Announces First Quarter 2026 Results

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[{"type":"text","content":"Flagship Communities Real Estate Investment Trust Announces First Quarter 2026 Results\nNot for distribution to U.S. newswire services or dissemination in the United States. TORONTO, May 04, 2026 (GLOBE NEWSWIRE) -- Flagship Communities Real Estate Investment Trust (“Flagship” or the “REIT”) (TSX: MHC.U; MHC.UN) today released its first quarter 2026 results. The financial results of the REIT have been prepared in accordance with International Accounting Standard 34 (“IAS 34”) as issued by the International Accounting Standards Board (“IASB”). Results are shown in U.S. dollars, unless otherwise noted. First Quarter 2026 ResultsCompared to First Quarter 2025 Results Rental revenue and related income was $29.9 million, an increase of 20.6% compared to $24.8 millionSame Community Revenue1 was $26.9 million, up 8.6% compared to $24.8 millionNet income and comprehensive income was $22.1 million compared to $10.5 millionNet Operating Income (“NOI”) was $19.3 million, up 17.4% compared to $16.4 millionSame Community NOI1 was $17.3 million, an increase of 5.3%, compared to $16.4 millionNOI Margin1 was 64.5% compared to 66.2%Same Community NOI Margin1 was 64.2% compared to 66.2%Funds from operations (“FFO”) per unit (diluted)2 was $0.382 compared to $0.332, which was an increase of $0.050 per unit or 15.0%FFO adjusted per unit (diluted)2 was $0.381 compared to $0.342 which was an increase of $0.039 per unit or 11.4%Adjusted funds from operations (“AFFO”) per unit (diluted)2 was $0.342 compared to $0.301, which was an increase of $0.041 per unit or 13.6%AFFO adjusted per unit (diluted)2 was $0.341 compared to $0.310 which was an increase of $0.031 per unit or 10.0%Rent Collections1 were 99.8%, an increase of 0.1% compared to 99.7%Bolstered its presence in Ohio with the acquisition of a 96-lot manufactured housing community (“MHC”) with land expansion potential As at March 31, 2026 NAV1 and NAV per Unit1 were $822.9 million and $32.39, respectively, compared to $804.8 million and $31.93 as at December 31, 2025, respectivelyDebt to Gross Book Value1 was 39.0% compared to 39.2% as at December 31, 2025Total portfolio Occupancy1 was 84.1%, compared to 82.9% as at December 31, 2025Same Community1 Occupancy1 was 84.8%, an increase of 1....

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