Sun Communities (SUI) Downgraded by Robert W. Baird to “Neutral”

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).

The Fly

Analyst Recommendations for Sun Communities (NYSE:SUI)

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