Flagship Communities Real Estate Investment Trust (MHC-U) - Net Assets
Based on the latest financial reports, Flagship Communities Real Estate Investment Trust (MHC-U) has net assets worth $646.35 Million USD as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($1.24 Billion) and total liabilities ($588.70 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Read MHC-U total liabilities for a breakdown of total debt and financial obligations.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $646.35 Million |
| % of Total Assets | 52.33% |
| Annual Growth Rate | 43.59% |
| 5-Year Change | 300.08% |
| 10-Year Change | N/A |
| Growth Volatility | 35.45 |
Flagship Communities Real Estate Investment Trust - Net Assets Trend (2018–2024)
This chart illustrates how Flagship Communities Real Estate Investment Trust's net assets have evolved over time, based on quarterly financial data. Also explore MHC-U total asset value for the complete picture of this company's asset base.
Annual Net Assets for Flagship Communities Real Estate Investment Trust (2018–2024)
The table below shows the annual net assets of Flagship Communities Real Estate Investment Trust from 2018 to 2024. For live valuation and market cap data, see Flagship Communities Real Estate Investm market cap and net worth.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $585.65 Million | +34.30% |
| 2023-12-31 | $436.07 Million | +21.90% |
| 2022-12-31 | $357.75 Million | +10.86% |
| 2021-12-31 | $322.69 Million | +120.44% |
| 2020-12-31 | $146.38 Million | +43.35% |
| 2019-12-31 | $102.11 Million | +52.91% |
| 2018-12-31 | $66.78 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Flagship Communities Real Estate Investment Trust's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 31864400000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $318.64 Million | 54.41% |
| Other Components | $267.01 Million | 45.59% |
| Total Equity | $585.65 Million | 100.00% |
Flagship Communities Real Estate Investment Trust Competitors by Market Cap
The table below lists competitors of Flagship Communities Real Estate Investment Trust ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Shanghai Kaichuang Marine International Co Ltd
SHG:600097
|
$368.78 Million |
|
Alvarium Tiedemann Holdings Inc.
NASDAQ:ALTI
|
$368.87 Million |
|
Jiangsu Hongde Special Parts Co.Ltd.
SHE:301163
|
$368.97 Million |
|
Cerus Corporation
NASDAQ:CERS
|
$368.97 Million |
|
Hongda High-Tech Holding Co Ltd
SHE:002144
|
$368.59 Million |
|
Dingdong (Cayman) Limited ADR
NYSE:DDL
|
$368.51 Million |
|
Anaergia Inc
TO:ANRG
|
$368.32 Million |
|
Mesabi Trust
NYSE:MSB
|
$368.15 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Flagship Communities Real Estate Investment Trust's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 436,074,000 to 585,651,000, a change of 149,577,000 (34.3%).
- Net income of 103,518,000 contributed positively to equity growth.
- Dividend payments of 14,105,000 reduced retained earnings.
- Share repurchases of 78,000 reduced equity.
- New share issuances of 57,082,000 increased equity.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $103.52 Million | +17.68% |
| Dividends Paid | $14.11 Million | -2.41% |
| Share Repurchases | $78.00K | -0.01% |
| Share Issuances | $57.08 Million | +9.75% |
| Other Changes | $3.16 Million | +0.54% |
| Total Change | $- | 34.30% |
Book Value vs Market Value Analysis
This analysis compares Flagship Communities Real Estate Investment Trust's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.81x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 1.78x to 0.81x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2018-12-31 | $10.69 | $19.00 | x |
| 2019-12-31 | $16.34 | $19.00 | x |
| 2020-12-31 | $20.26 | $19.00 | x |
| 2021-12-31 | $22.82 | $19.00 | x |
| 2022-12-31 | $18.24 | $19.00 | x |
| 2023-12-31 | $20.69 | $19.00 | x |
| 2024-12-31 | $23.45 | $19.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Flagship Communities Real Estate Investment Trust utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 17.68%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 117.46%
- • Asset Turnover: 0.08x
- • Equity Multiplier: 1.89x
- Recent ROE (17.68%) is below the historical average (18.29%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2019 | 28.30% | 187.19% | 0.08x | 1.97x | $18.69 Million |
| 2021 | 18.60% | 139.31% | 0.06x | 2.15x | $27.74 Million |
| 2022 | 11.93% | 72.59% | 0.07x | 2.23x | $6.91 Million |
| 2023 | 14.93% | 91.62% | 0.08x | 2.07x | $21.49 Million |
| 2024 | 17.68% | 117.46% | 0.08x | 1.89x | $44.95 Million |
Industry Comparison
This section compares Flagship Communities Real Estate Investment Trust's net assets metrics with peer companies in the REIT - Residential industry.
Industry Context
- Industry: REIT - Residential
- Average net assets among peers: $1,666,054,765
- Average return on equity (ROE) among peers: 5.02%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Flagship Communities Real Estate Investment Trust (MHC-U) | $646.35 Million | 28.30% | 0.91x | $368.64 Million |
| Boardwalk Real Estate Investment Trust (BEI-UN) | $217.30 Million | 3.68% | 3.28x | $2.34 Billion |
| Canadian Apartment Properties Real Estate Investment Trust (CAR-UN) | $10.40 Billion | 13.39% | 0.70x | $4.06 Billion |
| European Residential Real Estate Investment Trust (ERE-UN) | $3.35 Million | -1.83% | 0.09x | $79.47 Million |
| BSR Real Estate Investment Trust (HOM-UN) | $657.60 Million | -6.12% | 1.71x | $114.41K |
| InterRent Real Estate Investment Trust (IIP-UN) | $2.82 Million | 6.08% | 1.84x | $1.33 Billion |
| Killam Apartment Real Estate Investment Trust (KMP-UN) | $2.11 Billion | 13.52% | 1.17x | $1.50 Billion |
| Lanesborough Real Estate Investment Trust (LRT-UN) | $-36.64 Million | 0.00% | 0.00x | $2.46 Million |
| Minto Apartment Real Estate Investment Trust (MI-UN) | $1.12 Billion | 5.67% | 1.37x | $463.75 Million |
| Morguard North American Residential Real Estate Investment Trust (MRG-UN) | $522.96 Million | 10.78% | 2.20x | $424.29 Million |
About Flagship Communities Real Estate Investment Trust
Flagship Communities Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust established under, and governed by, the laws of the Province of Ontario. The operations of the REIT commenced on October 7, 2020, when it completed an initial public offering, for the purpose of owning and operating a portfolio of income-producing manufactured housing communities locate… Read more