Robert W. Baird lowered shares of Sun Communities (NYSE:SUI) from an outperform rating to a neutral rating in a research report report published on Friday, Marketbeat.com reports. They currently have $95.00 price target on the real estate investment trust’s stock, down from their prior price target of $100.00.
A number of other equities research analysts also recently issued reports on SUI. Zacks Investment Research raised shares of Sun Communities from a hold rating to a buy rating and set a $94.00 price objective for the company in a research report on Friday, September 29th. BMO Capital Markets initiated 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 for the company. Royal Bank of Canada upped their price objective 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. ValuEngine raised shares of Sun Communities from a hold rating to a buy rating in a research report on Tuesday, November 14th. Finally, Evercore ISI raised shares of Sun Communities from an in-line rating to an outperform rating and set a $86.00 price objective for the company in a research report on Monday, December 4th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Sun Communities currently has an average rating of Hold and an average price target of $93.57.
Sun Communities (NYSE SUI) traded down $0.65 during trading hours on Friday, hitting $89.91. 460,100 shares of the stock traded hands, compared to its average volume of 313,750. The company has a market capitalization of $7,230.00, a P/E ratio of 121.50, a PEG ratio of 3.14 and a beta of 0.27. Sun Communities has a one year low of $76.60 and a one year high of $96.08.
Sun Communities (NYSE:SUI) last posted its earnings results on Monday, October 23rd. The real estate investment trust reported $1.13 EPS for the quarter, topping the consensus estimate of $0.34 by $0.79. The company had revenue of $268.20 million during the quarter, compared to the consensus estimate of $239.45 million. Sun Communities had a net margin of 7.37% and a return on equity of 2.76%. During the same period in the previous year, the firm posted $1.13 earnings per share. equities research analysts expect that Sun Communities will post 4.16 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Thursday, December 28th. Sun Communities’s payout ratio is 362.16%.
In other Sun Communities news, EVP Jonathan Colman sold 2,000 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $93.21, for a total value of $186,420.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.15% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SUI. SG Americas Securities LLC boosted its stake in Sun Communities by 33.3% in the second quarter. SG Americas Securities LLC now owns 4,822 shares of the real estate investment trust’s stock valued at $423,000 after acquiring an additional 1,204 shares during the last quarter. Comerica Bank boosted its stake in Sun Communities by 4.7% in the second quarter. Comerica Bank now owns 3,265 shares of the real estate investment trust’s stock valued at $291,000 after acquiring an additional 148 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Sun Communities by 19.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,323 shares of the real estate investment trust’s stock valued at $467,000 after acquiring an additional 861 shares during the last quarter. Pacad Investment Ltd. purchased a new position in Sun Communities in the second quarter valued at about $280,000. Finally, Swiss National Bank boosted its stake in Sun Communities by 14.2% in the second quarter. Swiss National Bank now owns 130,531 shares of the real estate investment trust’s stock valued at $11,446,000 after acquiring an additional 16,200 shares during the last quarter. Hedge funds and other institutional investors own 93.58% of the company’s stock.
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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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