Analysts Set Sun Communities Inc. (SUI) PT at $82.00
Shares of Sun Communities Inc. (NYSE:SUI) have earned an average rating of “Buy” from the six ratings firms that are currently covering the company. One research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $82.00.
SUI has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Sun Communities from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a research report on Wednesday, July 27th. TheStreet cut shares of Sun Communities from a “buy” rating to a “hold” rating in a research report on Friday, August 26th. Citigroup Inc. raised shares of Sun Communities from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $80.00 to $86.00 in a research report on Monday, September 12th. BMO Capital Markets raised shares of Sun Communities from a “market perform” rating to an “outperform” rating and set a $85.00 price objective on the stock in a research report on Friday, September 16th. Finally, Evercore ISI initiated coverage on shares of Sun Communities in a research report on Friday, October 14th. They set a “buy” rating and a $85.00 price objective on the stock.
Sun Communities (NYSE:SUI) opened at 71.05 on Friday. The firm has a market cap of $5.19 billion, a P/E ratio of 41.31 and a beta of 0.47. Sun Communities has a 12 month low of $62.19 and a 12 month high of $85.98. The firm’s 50-day moving average price is $77.04 and its 200-day moving average price is $75.04.
Sun Communities (NYSE:SUI) last issued its quarterly earnings results on Tuesday, November 1st. The real estate investment trust reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.03. Sun Communities had a return on equity of 6.38% and a net margin of 16.21%. The firm earned $249.70 million during the quarter, compared to the consensus estimate of $146.83 million. During the same period last year, the business posted $1.05 EPS. The business’s revenue was up 34.7% compared to the same quarter last year. On average, equities research analysts expect that Sun Communities will post $3.78 EPS for the current fiscal year.
In related news, Director Stephanie W. Bergeron sold 4,850 shares of the firm’s stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $70.63, for a total value of $342,555.50. Following the transaction, the director now owns 16,000 shares of the company’s stock, valued at approximately $1,130,080. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.14% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. D.A. Davidson & CO. raised its stake in Sun Communities by 0.5% in the third quarter. D.A. Davidson & CO. now owns 1,639 shares of the real estate investment trust’s stock valued at $128,000 after buying an additional 8 shares during the period. Quantitative Systematic Strategies LLC purchased a new stake in Sun Communities during the third quarter valued at approximately $500,000. Adelante Capital Management LLC raised its stake in Sun Communities by 30.8% in the third quarter. Adelante Capital Management LLC now owns 393,638 shares of the real estate investment trust’s stock valued at $30,893,000 after buying an additional 92,732 shares during the period. Credit Suisse AG raised its stake in Sun Communities by 20.0% in the third quarter. Credit Suisse AG now owns 332,778 shares of the real estate investment trust’s stock valued at $26,116,000 after buying an additional 55,454 shares during the period. Finally, Picton Mahoney Asset Management raised its stake in Sun Communities by 5.3% in the third quarter. Picton Mahoney Asset Management now owns 39,600 shares of the real estate investment trust’s stock valued at $3,108,000 after buying an additional 2,000 shares during the period. Hedge funds and other institutional investors own 91.78% of the company’s stock.
Sun Communities Company Profile
Sun Communities, Inc (SHS) is a self-administered and self-managed real estate investment trust (REIT). The Company operates in two segments: Real Property Operations, and Home Sales and Rentals. The Real Property Operations segment owns, operates and develops manufactured housing (MH) and recreational vehicle (RV) throughout the United States and is in the business of acquiring, operating and expanding MH and RV communities.
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