Sun Communities (NYSE:SUI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday. They currently have a $102.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 11.67% from the stock’s current price.
According to Zacks, “Sun Communities, Inc. owns, operates & finances manufactured housing communities concentrated in the midwestern & southeastern US. The Company is a fully integrated real estate company which, together with its affiliates and predecessors, has been in the business of acquiring, operating & expanding manufactured housing communities since 1975. The Company owns & manages a portfolio of properties located in twelve states, including manufactured housing communities, recreational vehicle communities, & properties containing both manufactured housing & recreational vehicle sites. “
A number of other brokerages have also issued reports on SUI. Robert W. Baird raised Sun Communities from a “neutral” rating to an “outperform” rating in a research note on Wednesday, February 7th. ValuEngine raised Sun Communities from a “hold” rating to a “buy” rating in a research note on Thursday, March 15th. Finally, BMO Capital Markets set a $97.00 price target on Sun Communities and gave the company a “buy” rating in a research note on Wednesday, February 21st. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $94.83.
Shares of NYSE SUI opened at $91.34 on Thursday. The firm has a market cap of $7,319.78, a price-to-earnings ratio of 21.90, a PEG ratio of 3.20 and a beta of 0.11. Sun Communities has a 1 year low of $80.12 and a 1 year high of $96.08.
Sun Communities (NYSE:SUI) last issued its quarterly earnings results on Wednesday, February 21st. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.98. The firm had revenue of $242.00 million during the quarter, compared to analyst estimates of $207.51 million. Sun Communities had a return on equity of 2.98% and a net margin of 8.01%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the company posted $0.91 EPS. equities research analysts predict that Sun Communities will post 4.54 earnings per share for the current year.
In other news, Director Clunet R. Lewis sold 2,200 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $87.84, for a total transaction of $193,248.00. Following the completion of the sale, the director now owns 19,400 shares in the company, valued at approximately $1,704,096. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.69% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in SUI. American International Group Inc. acquired a new stake in shares of Sun Communities during the 4th quarter valued at $149,000. Prime Capital Investment Advisors LLC acquired a new stake in shares of Sun Communities during the 4th quarter valued at $173,000. All Terrain Financial Advisors LLC acquired a new stake in shares of Sun Communities during the 4th quarter valued at $200,000. Shelton Capital Management acquired a new stake in shares of Sun Communities during the 4th quarter valued at $204,000. Finally, M&T Bank Corp acquired a new stake in shares of Sun Communities during the 4th quarter valued at $209,000. Institutional investors own 94.64% of the company’s stock.
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Sun Communities Company Profile
Sun Communities, Inc provides real estate management services. The company operates through the following segments: Real Property Operations and Home Sales & Rentals. The Real Property Operations segment owns, operates, and develops manufacture housing communities and recreational vehicle communities throughout the United States and is in the business of acquiring, operating, and expanding manufactured housing and recreational vehicle communities.
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