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).

Analyst Recommendations for Sun Communities (NYSE:SUI)

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