Zacks Investment Research upgraded shares of Sun Communities, Inc. (NYSE:SUI) from a sell rating to a hold rating in a research note issued to investors on Thursday morning.

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 equities analysts also recently commented on the stock. BMO Capital Markets started coverage on shares of Sun Communities in a research note on Monday, October 9th. They issued an outperform rating and a $96.00 target price on the stock. Royal Bank Of Canada restated a buy rating and issued a $92.00 target price on shares of Sun Communities in a research note on Sunday, July 16th. BidaskClub downgraded shares of Sun Communities from a buy rating to a hold rating in a research note on Tuesday, July 11th. Finally, Robert W. Baird restated a buy rating and issued a $95.00 target price on shares of Sun Communities in a research note on Friday, September 8th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Sun Communities presently has a consensus rating of Buy and an average target price of $92.29.

Sun Communities (SUI) opened at $92.19 on Thursday. The company has a market cap of $7,314.59, a PE ratio of 22.49, a P/E/G ratio of 3.52 and a beta of 0.28. Sun Communities has a fifty-two week low of $69.90 and a fifty-two week high of $92.44.

Sun Communities (NYSE:SUI) last issued its quarterly earnings results on Monday, October 23rd. The real estate investment trust reported $1.13 EPS for the quarter, beating the consensus estimate of $0.34 by $0.79. The company had revenue of $268.20 million for the quarter, compared to the consensus estimate of $239.45 million. Sun Communities had a net margin of 7.37% and a return on equity of 2.76%. During the same period in the prior year, the firm posted $1.13 EPS. equities analysts expect that Sun Communities will post 4.16 EPS for the current year.

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The business also recently announced a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were paid a $0.67 dividend. The ex-dividend date was Thursday, September 28th. This represents a $2.68 dividend on an annualized basis and a yield of 2.91%. Sun Communities’s dividend payout ratio is currently 362.16%.

In other news, EVP Jonathan Colman sold 3,000 shares of the stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $85.44, for a total transaction of $256,320.00. Following the transaction, the executive vice president now directly owns 33,985 shares in the company, valued at $2,903,678.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Clunet R. Lewis sold 1,292 shares of the stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $86.52, for a total transaction of $111,783.84. Following the transaction, the director now owns 18,800 shares in the company, valued at $1,626,576. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,584 shares of company stock worth $824,274. Insiders own 4.15% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Sun Communities by 9.4% during the second 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 in the last quarter. BlackRock Inc. boosted its stake in shares of Sun Communities by 9.7% during the second 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 in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Sun Communities by 2.8% during the second quarter. Daiwa Securities Group Inc. now owns 3,903,615 shares of the real estate investment trust’s stock valued at $342,308,000 after purchasing an additional 107,844 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Sun Communities by 8.1% during the third quarter. Principal Financial Group Inc. now owns 2,891,855 shares of the real estate investment trust’s stock valued at $247,774,000 after purchasing an additional 215,897 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Sun Communities by 4.9% during the second quarter. State Street Corp now owns 2,190,229 shares of the real estate investment trust’s stock valued at $192,065,000 after purchasing an additional 102,950 shares in the last quarter. Hedge funds and other institutional investors own 94.24% of the company’s stock.

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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Analyst Recommendations for Sun Communities (NYSE:SUI)

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