Sun Communities Stock Rating Upgraded by Wells Fargo & Co. (SUI)
Sun Communities (NYSE:SUI) was upgraded by analysts at Wells Fargo & Co. from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday, TheFlyOnTheWall.com reports.
Shares of Sun Communities (NYSE:SUI) traded up 3.63% on Tuesday, hitting $43.71. The stock had a trading volume of 148,899 shares. Sun Communities has a 1-year low of $39.53 and a 1-year high of $57.78. The stock has a 50-day moving average of $41.48 and a 200-day moving average of $44.9. The company has a market cap of $1.580 billion and a P/E ratio of 153.38.
Sun Communities (NYSE:SUI) last announced its earnings results on Tuesday, October 29th. The company reported $0.82 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.82. The company had revenue of $107.20 million for the quarter, compared to the consensus estimate of $80.38 million. During the same quarter last year, the company posted $0.71 earnings per share. Sun Communities’s revenue was up 29.2% compared to the same quarter last year. On average, analysts predict that Sun Communities will post $3.12 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, January 17th. Shareholders of record on Tuesday, December 31st will be paid a dividend of 0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 5.77%. The ex-dividend date is Friday, December 27th.
A number of other analysts have also recently weighed in on SUI. Analysts at Robert W. Baird reiterated a “buy” rating on shares of Sun Communities in a research note to investors on Friday, November 1st. They now have a $49.00 price target on the stock. Separately, analysts at BMO Capital Markets cut their price target on shares of Sun Communities from $55.00 to $52.00 in a research note to investors on Friday, November 1st. They now have an “outperform” rating on the stock. Finally, analysts at Imperial Capital cut their price target on shares of Sun Communities from $54.00 to $52.00 in a research note to investors on Wednesday, October 30th. They now have an “outperform” rating on the stock. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $48.25.
Sun Communities, Inc is a self-administered and self-managed real estate investment trust (NYSE:SUI).
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