Sun Communities (SUI) Rating Reiterated by Robert W. Baird

Sun Communities (NYSE:SUI)‘s stock had its “buy” rating reissued by investment analysts at Robert W. Baird in a note issued to investors on Monday. They presently have a $100.00 price objective on the real estate investment trust’s stock. Robert W. Baird’s price target indicates a potential upside of 4.77% from the company’s current price.

SUI has been the topic of a number of other research reports. Royal Bank of Canada lifted their price target on shares of Sun Communities from $95.00 to $96.00 and gave the company an “outperform” rating in a research note on Thursday, October 26th. Zacks Investment Research lowered shares of Sun Communities from a “hold” rating to a “sell” rating in a research note on Thursday, October 19th. ValuEngine raised shares of Sun Communities from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. Evercore ISI raised shares of Sun Communities from an “in-line” rating to an “outperform” rating and set a $86.00 price target on the stock in a research note on Monday, December 4th. Finally, BMO Capital Markets initiated coverage on shares of Sun Communities in a research note on Monday, October 9th. They issued an “outperform” rating and a $96.00 price target on the stock. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Sun Communities has a consensus rating of “Buy” and a consensus target price of $93.00.

Sun Communities (SUI) opened at $95.45 on Monday. The stock has a market cap of $7,550.00, a P/E ratio of 23.32, a P/E/G ratio of 3.65 and a beta of 0.27. Sun Communities has a 1-year low of $72.51 and a 1-year high of $95.83.

Sun Communities (NYSE:SUI) last issued its quarterly earnings data on Monday, October 23rd. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.79. The firm had revenue of $268.20 million during the quarter, compared to analysts’ expectations of $239.45 million. Sun Communities had a net margin of 7.37% and a return on equity of 2.76%. During the same quarter in the previous year, the company earned $1.13 earnings per share. equities research analysts forecast that Sun Communities will post 4.16 earnings per share for the current fiscal year.

In other news, EVP Jonathan Colman sold 3,000 shares of the business’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $85.44, for a total value of $256,320.00. Following the sale, the executive vice president now owns 33,985 shares of the company’s stock, valued at $2,903,678.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Clunet R. Lewis sold 1,292 shares of the business’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $86.52, for a total transaction of $111,783.84. Following the completion of the sale, the director now directly owns 18,800 shares in the company, valued at approximately $1,626,576. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,584 shares of company stock worth $1,010,694. Insiders own 4.15% of the company’s stock.

Several hedge funds have recently made changes to their positions in SUI. Bank of New York Mellon Corp lifted its position in shares of Sun Communities by 303.3% in the second quarter. Bank of New York Mellon Corp now owns 1,532,663 shares of the real estate investment trust’s stock worth $134,399,000 after purchasing an additional 1,152,596 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Sun Communities by 9.4% in the second quarter. Vanguard Group Inc. now owns 11,504,907 shares of the real estate investment trust’s stock worth $1,008,865,000 after purchasing an additional 983,835 shares in the last quarter. Janus Henderson Group PLC bought a new stake in shares of Sun Communities in the second quarter worth $70,725,000. Renaissance Technologies LLC lifted its position in shares of Sun Communities by 305.2% in the second quarter. Renaissance Technologies LLC now owns 676,700 shares of the real estate investment trust’s stock worth $59,340,000 after purchasing an additional 509,700 shares in the last quarter. Finally, BlackRock Inc. lifted its position in shares of Sun Communities by 9.7% in the second quarter. BlackRock Inc. now owns 5,132,844 shares of the real estate investment trust’s stock worth $450,100,000 after purchasing an additional 454,187 shares in the last quarter. 93.62% of the stock is currently owned by institutional investors and hedge funds.

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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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