Sun Communities, Inc. (NYSE:SUI)‘s stock had its “buy” rating restated by stock analysts at BMO Capital Markets in a research note issued to investors on Monday. They presently have a $96.00 price objective on the real estate investment trust’s stock. BMO Capital Markets’ price objective indicates a potential upside of 8.13% from the stock’s previous close.

A number of other analysts have also recently commented on the company. BidaskClub cut Sun Communities from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 30th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $92.00 price target on shares of Sun Communities in a research report on Sunday, July 16th. Zacks Investment Research cut Sun Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $95.00 price target on shares of Sun Communities in a research report on Friday, September 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. Sun Communities presently has an average rating of “Hold” and a consensus target price of $91.71.

Sun Communities (NYSE SUI) traded down 0.74% on Monday, reaching $88.78. The company’s stock had a trading volume of 231,145 shares. The firm’s 50 day moving average price is $88.12 and its 200-day moving average price is $87.39. Sun Communities has a 1-year low of $69.90 and a 1-year high of $91.87. The company has a market capitalization of $7.01 billion, a price-to-earnings ratio of 127.01 and a beta of 0.30.

Sun Communities (NYSE:SUI) last issued its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $1.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.70. Sun Communities had a return on equity of 2.59% and a net margin of 6.82%. The company had revenue of $268.20 million during the quarter, compared to analysts’ expectations of $239.45 million. During the same quarter in the previous year, the firm posted $1.13 EPS. Equities analysts forecast that Sun Communities will post $0.99 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: This report was first reported by American Banking News and is the property of of American Banking News. If you are viewing this report on another domain, it was copied illegally and reposted in violation of U.S. & international copyright law. The correct version of this report can be accessed at https://www.americanbankingnews.com/2017/10/23/bmo-capital-markets-reaffirms-buy-rating-for-sun-communities-inc-sui.html.

In other news, COO John Bandini Mclaren sold 5,400 shares of the business’s stock in a transaction dated 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 transaction, the chief operating officer now owns 153,159 shares of the company’s stock, valued at approximately $13,543,850.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Clunet R. Lewis sold 1,292 shares of the business’s stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $86.52, for a total value of $111,783.84. Following the completion of the transaction, the director now directly owns 18,800 shares of the company’s stock, valued at approximately $1,626,576. The disclosure for this sale can be found here. In the last three months, insiders sold 14,984 shares of company stock valued at $1,301,796. Insiders own 4.15% of the company’s stock.

Several institutional investors have recently made changes to their positions in SUI. BlackRock Inc. increased its stake in shares of Sun Communities by 3,458.3% in the 1st quarter. BlackRock Inc. now owns 4,678,657 shares of the real estate investment trust’s stock valued at $375,838,000 after purchasing an additional 4,547,170 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Sun Communities by 303.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,532,663 shares of the real estate investment trust’s stock valued at $134,399,000 after purchasing an additional 1,152,596 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Sun Communities by 9.4% in the 2nd quarter. Vanguard Group Inc. now owns 11,504,907 shares of the real estate investment trust’s stock valued at $1,008,865,000 after purchasing an additional 983,835 shares in the last quarter. Janus Henderson Group PLC purchased a new position in shares of Sun Communities in the 2nd quarter valued at about $70,725,000. Finally, Renaissance Technologies LLC increased its stake in shares of Sun Communities by 305.2% in the 2nd quarter. Renaissance Technologies LLC now owns 676,700 shares of the real estate investment trust’s stock valued at $59,340,000 after purchasing an additional 509,700 shares in the last quarter. Hedge funds and other institutional investors own 94.31% 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)

Receive News & Ratings for Sun Communities Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sun Communities Inc. and related companies with MarketBeat.com's FREE daily email newsletter.