Sun Communities, Inc. (SUI) Earns Buy Rating from Robert W. Baird
Sun Communities, Inc. (NYSE:SUI)‘s stock had its “buy” rating reaffirmed by investment analysts at Robert W. Baird in a report released on Friday. They currently have a $95.00 price target on the real estate investment trust’s stock. Robert W. Baird’s target price indicates a potential upside of 7.24% from the company’s current price.
Other equities research analysts have also issued reports about the company. Zacks Investment Research lowered Sun Communities from a “buy” rating to a “hold” rating in a research note on Friday, June 30th. Royal Bank Of Canada restated a “buy” rating and issued a $92.00 price objective on shares of Sun Communities in a research note on Sunday, July 16th. Finally, BidaskClub lowered Sun Communities from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 30th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $90.86.
Shares of Sun Communities (SUI) traded down 2.27% during trading on Friday, hitting $88.59. The stock had a trading volume of 991,886 shares. The firm has a market capitalization of $7.00 billion, a P/E ratio of 126.74 and a beta of 0.29. The stock’s 50-day moving average price is $89.20 and its 200 day moving average price is $85.75. Sun Communities has a 1-year low of $69.90 and a 1-year high of $91.87.
Sun Communities (NYSE:SUI) last posted its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.16 EPS for the quarter, missing the consensus estimate of $0.19 by $0.03. The company had revenue of $237.90 million during the quarter, compared to analysts’ expectations of $210.58 million. Sun Communities had a return on equity of 2.59% and a net margin of 6.82%. The company’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same quarter last year, the company earned $0.85 earnings per share. On average, analysts anticipate that Sun Communities will post $0.99 earnings per share for the current year.
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In other Sun Communities news, COO John Bandini Mclaren sold 5,400 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $88.43, for a total value of $477,522.00. Following the completion of the sale, the chief operating officer now owns 153,159 shares in the company, valued at approximately $13,543,850.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.15% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd purchased a new stake in Sun Communities in the 2nd quarter worth $676,000. Public Employees Retirement System of Ohio increased its stake in Sun Communities by 4.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 109,992 shares of the real estate investment trust’s stock worth $9,645,000 after buying an additional 5,141 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Sun Communities by 3.3% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 9,777 shares of the real estate investment trust’s stock worth $857,000 after buying an additional 310 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Sun Communities by 8.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,299 shares of the real estate investment trust’s stock worth $202,000 after buying an additional 178 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its stake in Sun Communities by 476.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 12,222 shares of the real estate investment trust’s stock worth $1,072,000 after buying an additional 10,102 shares in the last quarter. Institutional investors and hedge funds own 94.46% of the company’s stock.
About Sun Communities
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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