Sun Communities (NYSE:SUI) Stock Rating Lowered by Wall Street Zen

Sun Communities (NYSE:SUI) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Several other analysts have also recently issued reports on SUI. Wells Fargo & Company lowered their target price on shares of Sun Communities from $150.00 to $142.00 and set an “overweight” rating on the stock in a research note on Friday, May 29th. Evercore restated an “outperform” rating and set a $144.00 price target on shares of Sun Communities in a research report on Wednesday, April 29th. Weiss Ratings restated a “hold (c)” rating on shares of Sun Communities in a research report on Wednesday. Barclays decreased their price target on shares of Sun Communities from $147.00 to $146.00 and set an “overweight” rating on the stock in a report on Tuesday, July 14th. Finally, Royal Bank Of Canada increased their price objective on Sun Communities from $147.00 to $148.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $139.98.

Sun Communities Price Performance

SUI stock opened at $123.75 on Friday. The firm has a 50 day moving average of $122.04 and a 200-day moving average of $126.44. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.70. Sun Communities has a 12 month low of $115.90 and a 12 month high of $137.85. The firm has a market capitalization of $15.07 billion, a P/E ratio of -17.45, a price-to-earnings-growth ratio of 4.03 and a beta of 0.79.

Insider Activity at Sun Communities

In other Sun Communities news, Director Gary A. Shiffman sold 25,031 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $119.96, for a total value of $3,002,718.76. Following the completion of the transaction, the director owned 857,761 shares of the company’s stock, valued at $102,897,009.56. The trade was a 2.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Fernando Castro-Caratini sold 23,750 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $124.43, for a total transaction of $2,955,212.50. Following the completion of the transaction, the executive vice president directly owned 9,998 shares in the company, valued at $1,244,051.14. The trade was a 70.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.58% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Sun Communities by 1,226.7% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 199 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 184 shares during the last quarter. Fulcrum Asset Management LLP purchased a new position in shares of Sun Communities in the 3rd quarter worth about $27,000. Wiser Advisor Group LLC bought a new position in shares of Sun Communities during the 3rd quarter valued at about $46,000. Prosperity Bancshares Inc bought a new position in shares of Sun Communities during the 4th quarter valued at about $48,000. Finally, Oslo Pensjonsforsikring AS purchased a new position in shares of Sun Communities during the 1st quarter valued at about $49,000. Institutional investors own 99.59% of the company’s stock.

About Sun Communities

Sun Communities, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company’s portfolio spans more than 500 manufactured housing communities and over 160 RV resorts, offering affordable, long-term housing as well as short-stay recreational lodging. Through professional on-site management and amenity-rich community designs, Sun Communities serves a diverse customer base that includes retirees, workforce families and vacationers.

Founded in 1975 and headquartered in Southfield, Michigan, Sun Communities has grown organically and through strategic acquisitions to become one of the largest operators in its sector.