Robert W. Baird Lowers Sun Communities (SUI) to Neutral

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).

Analyst Recommendations for Sun Communities (NYSE:SUI)

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