Sun Communities (NYSE:SUI) was downgraded by equities researchers at Robert W. Baird from an “outperform” rating to a “neutral” rating in a note issued to investors on Friday, The Fly reports.
SUI has been the topic of a number of other research reports. Royal Bank of Canada lifted their target price on shares of Sun Communities from $95.00 to $96.00 and gave the stock an “outperform” rating in a research report on Thursday, October 26th. Zacks Investment Research cut shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Thursday, October 19th. ValuEngine upgraded shares of Sun Communities from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. Evercore ISI upgraded shares of Sun Communities from an “in-line” rating to an “outperform” rating and set a $86.00 price objective on the stock in a research report on Monday, December 4th. Finally, BMO Capital Markets began coverage on shares of Sun Communities in a research report on Monday, October 9th. They issued an “outperform” rating and a $96.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $94.29.
Sun Communities (NYSE SUI) opened at $90.56 on Friday. The company has a market cap of $7,280.47, a price-to-earnings ratio of 122.38, a P/E/G ratio of 3.20 and a beta of 0.27. Sun Communities has a 52-week low of $75.80 and a 52-week high of $96.08.
Sun Communities (NYSE:SUI) last issued its earnings results on Monday, October 23rd. The real estate investment trust reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.79. The company had revenue of $268.20 million for the quarter, compared to analysts’ expectations of $239.45 million. Sun Communities had a net margin of 7.37% and a return on equity of 2.76%. During the same quarter last year, the company earned $1.13 EPS. analysts expect that Sun Communities will post 4.16 earnings per share for the current year.
In related news, EVP Jonathan Colman sold 2,000 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $93.21, for a total transaction of $186,420.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 4.15% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Whitnell & Co. bought a new position in shares of Sun Communities in the third quarter worth approximately $139,000. The Manufacturers Life Insurance Company lifted its stake in shares of Sun Communities by 8.4% in the second 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. Raymond James Trust N.A. bought a new position in shares of Sun Communities in the second quarter worth approximately $224,000. Virtu KCG Holdings LLC bought a new position in shares of Sun Communities in the second quarter worth approximately $231,000. Finally, CIBC Asset Management Inc bought a new position in shares of Sun Communities in the third quarter worth approximately $232,000. 93.58% of the stock is currently owned by institutional investors and hedge funds.
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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).