Sun Communities (SUI) Stock Rating Lowered by ValuEngine
Sun Communities (NYSE:SUI) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Tuesday.
A number of other research firms have also commented on SUI. Evercore ISI raised Sun Communities from an “in-line” rating to an “outperform” rating and set a $86.00 price target for the company in a report on Monday. Robert W. Baird reaffirmed a “buy” rating and issued a $95.00 price target on shares of Sun Communities in a report on Friday, September 8th. Zacks Investment Research raised Sun Communities from a “sell” rating to a “hold” rating in a report on Thursday, November 2nd. Royal Bank Of Canada raised their price target on Sun Communities from $95.00 to $96.00 and gave the stock an “outperform” rating in a report on Thursday, October 26th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $96.00 price target on shares of Sun Communities in a report on Monday, October 23rd. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $92.29.
Sun Communities (SUI) traded down $0.95 during trading on Tuesday, hitting $94.07. The stock had a trading volume of 264,199 shares, compared to its average volume of 357,356. Sun Communities has a 52-week low of $71.50 and a 52-week high of $95.44. The company has a market capitalization of $7,460.00, a price-to-earnings ratio of 22.86, a P/E/G ratio of 3.58 and a beta of 0.27.
In related news, Director Clunet R. Lewis sold 1,292 shares of Sun Communities stock in a transaction on Monday, September 25th. The stock was sold at an average price of $86.52, for a total transaction of $111,783.84. Following the completion of the sale, the director now owns 18,800 shares of the company’s stock, valued at $1,626,576. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Clunet R. Lewis sold 5,292 shares of Sun Communities stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $86.20, for a total value of $456,170.40. Following the sale, the director now directly owns 18,800 shares of the company’s stock, valued at approximately $1,620,560. The disclosure for this sale can be found here. Insiders have sold 11,584 shares of company stock valued at $1,010,694 in the last three months. 4.15% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in Sun Communities by 3,458.3% during the first quarter. BlackRock Inc. now owns 4,678,657 shares of the real estate investment trust’s stock worth $375,838,000 after purchasing an additional 4,547,170 shares during the last quarter. Centerbridge Partners L.P. bought a new stake in Sun Communities during the second quarter worth about $255,202,000. Bank of New York Mellon Corp lifted its stake in Sun Communities by 303.3% during the second quarter. Bank of New York Mellon Corp now owns 1,532,663 shares of the real estate investment trust’s stock worth $134,399,000 after purchasing an additional 1,152,596 shares during the last quarter. Vanguard Group Inc. lifted its stake in Sun Communities by 9.4% during the second quarter. Vanguard Group Inc. now owns 11,504,907 shares of the real estate investment trust’s stock worth $1,008,865,000 after purchasing an additional 983,835 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new stake in Sun Communities during the second quarter worth about $70,725,000. 93.62% of the stock is owned by institutional investors.
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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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