Sun Communities (SUI) Downgraded to “Neutral” at Robert W. Baird
Sun Communities (NYSE:SUI) was downgraded by analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a research note issued to investors on Friday.
SUI has been the topic of several other research reports. Zacks Investment Research downgraded Sun Communities from a “hold” rating to a “sell” rating in a report on Thursday, October 19th. Royal Bank of Canada upped their price objective on Sun Communities from $95.00 to $96.00 and gave the stock an “outperform” rating in a report on Thursday, October 26th. Evercore ISI raised Sun Communities from an “in-line” rating to an “outperform” rating and set a $86.00 price objective on the stock in a report on Monday, December 4th. ValuEngine downgraded Sun Communities from a “buy” rating to a “hold” rating in a report on Tuesday, December 5th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $96.00 price objective on shares of Sun Communities in a report on Monday, October 23rd. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $94.29.
Sun Communities (NYSE SUI) opened at $90.56 on Friday. Sun Communities has a 1-year low of $75.80 and a 1-year high of $96.08. The stock has a market capitalization of $7,280.47, a price-to-earnings ratio of 122.38, a price-to-earnings-growth ratio of 3.20 and a beta of 0.27.
In other news, EVP Jonathan Colman sold 2,000 shares of the stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $93.21, for a total value of $186,420.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.15% of the company’s stock.
Several hedge funds have recently bought and sold shares of SUI. Vanguard Group Inc. lifted its stake in shares of Sun Communities by 9.4% in the 2nd quarter. Vanguard Group Inc. now owns 11,504,907 shares of the real estate investment trust’s stock valued at $1,008,865,000 after purchasing an additional 983,835 shares during the period. Janus Henderson Group PLC acquired a new position in shares of Sun Communities in the 2nd quarter valued at $70,725,000. Renaissance Technologies LLC lifted its stake in shares of Sun Communities by 305.2% in the 2nd quarter. Renaissance Technologies LLC now owns 676,700 shares of the real estate investment trust’s stock valued at $59,340,000 after purchasing an additional 509,700 shares during the period. BlackRock Inc. lifted its stake in shares of Sun Communities by 9.7% in the 2nd quarter. BlackRock Inc. now owns 5,132,844 shares of the real estate investment trust’s stock valued at $450,100,000 after purchasing an additional 454,187 shares during the period. Finally, Capital Growth Management LP bought a new stake in shares of Sun Communities in the 2nd quarter valued at $25,430,000. 93.58% of the stock is currently owned by institutional investors.
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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