Sun Communities Inc (NYSE:SUI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

According to Zacks, “Sun Communities, Inc. owns, operates & finances manufactured housing communities concentrated in the midwestern & southeastern US. The Company is a fully integrated real estate company which, together with its affiliates and predecessors, has been in the business of acquiring, operating & expanding manufactured housing communities since 1975. The Company owns & manages a portfolio of properties located in twelve states, including manufactured housing communities, recreational vehicle communities, & properties containing both manufactured housing & recreational vehicle sites. “

SUI has been the subject of several other research reports. TheStreet upgraded shares of Sun Communities from a “c+” rating to a “b-” rating in a research note on Wednesday, January 25th. Citigroup Inc cut shares of Sun Communities from a “buy” rating to a “neutral” rating and set a $86.00 price objective for the company. in a research note on Monday, February 27th. They noted that the move was a valuation call. Finally, Evercore ISI cut shares of Sun Communities from a “buy” rating to a “hold” rating and raised their price objective for the company from $81.00 to $86.00 in a research note on Tuesday, February 28th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $87.00.

Sun Communities (NYSE:SUI) opened at 84.90 on Friday. The stock has a market cap of $6.26 billion, a PE ratio of 194.28 and a beta of 0.38. Sun Communities has a 12-month low of $67.95 and a 12-month high of $86.67. The firm has a 50-day moving average of $83.28 and a 200-day moving average of $78.75.

Sun Communities (NYSE:SUI) last released its earnings results on Thursday, April 27th. The real estate investment trust reported $1.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.03. Sun Communities had a net margin of 16.21% and a return on equity of 6.38%. The company had revenue of $234.40 million during the quarter, compared to analysts’ expectations of $194.89 million. During the same quarter last year, the business earned $0.90 EPS. The business’s revenue was up 34.2% on a year-over-year basis. Equities analysts predict that Sun Communities will post $1.04 earnings per share for the current fiscal year.

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In other Sun Communities news, COO John Bandini Mclaren sold 980 shares of the firm’s stock in a transaction dated Monday, March 20th. The shares were sold at an average price of $73.49, for a total transaction of $72,020.20. Following the completion of the transaction, the chief operating officer now directly owns 160,943 shares in the company, valued at approximately $11,827,701.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Clunet R. Lewis sold 2,000 shares of the firm’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $83.12, for a total transaction of $166,240.00. Following the transaction, the director now owns 18,800 shares of the company’s stock, valued at $1,562,656. The disclosure for this sale can be found here. Company insiders own 5.14% of the company’s stock.

Large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its stake in shares of Sun Communities by 25.1% in the first quarter. Goldman Sachs Group Inc. now owns 345,495 shares of the real estate investment trust’s stock worth $27,754,000 after buying an additional 69,413 shares during the period. Janus Capital Management LLC increased its stake in shares of Sun Communities by 265.7% in the first quarter. Janus Capital Management LLC now owns 58,543 shares of the real estate investment trust’s stock worth $4,703,000 after buying an additional 42,533 shares during the period. Driehaus Capital Management LLC increased its stake in shares of Sun Communities by 96.9% in the first quarter. Driehaus Capital Management LLC now owns 93,488 shares of the real estate investment trust’s stock worth $7,510,000 after buying an additional 46,016 shares during the period. Credit Suisse AG increased its stake in shares of Sun Communities by 4.6% in the first quarter. Credit Suisse AG now owns 425,958 shares of the real estate investment trust’s stock worth $34,218,000 after buying an additional 18,726 shares during the period. Finally, Tudor Investment Corp ET AL increased its stake in shares of Sun Communities by 38.5% in the first quarter. Tudor Investment Corp ET AL now owns 11,513 shares of the real estate investment trust’s stock worth $925,000 after buying an additional 3,201 shares during the period. Institutional investors and hedge funds own 99.24% of the company’s stock.

Sun Communities Company Profile

Sun Communities, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company is a fully integrated real estate company, which, together with its affiliates and predecessors, has been in the business of acquiring, operating, developing, and expanding manufactured housing (MH) and recreational vehicle (RV).

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