Sun Communities (SUI) Upgraded at Evercore ISI
Evercore ISI upgraded shares of Sun Communities (NYSE:SUI) from an in-line rating to an outperform rating in a report published on Monday, Marketbeat Ratings reports. They currently have $86.00 price objective on the real estate investment trust’s stock.
Several other equities analysts also recently issued reports on SUI. Robert W. Baird reiterated a buy rating and issued a $95.00 price objective on shares of Sun Communities in a research report on Friday, September 8th. Zacks Investment Research upgraded Sun Communities from a hold rating to a buy rating and set a $94.00 price objective for the company in a research report on Friday, September 29th. BMO Capital Markets started coverage on Sun Communities in a research report on Monday, October 9th. They issued an outperform rating and a $96.00 price objective for the company. Royal Bank Of Canada lifted their price objective on Sun Communities from $95.00 to $96.00 and gave the company an outperform rating in a research report on Thursday, October 26th. Finally, ValuEngine upgraded Sun Communities from a hold rating to a buy rating in a research report on Tuesday, November 14th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $92.29.
Shares of Sun Communities (SUI) opened at $94.54 on Monday. The company has a market capitalization of $7,539.13, a price-to-earnings ratio of 23.18, a P/E/G ratio of 3.63 and a beta of 0.27. Sun Communities has a one year low of $71.62 and a one year high of $95.44.
Sun Communities (NYSE:SUI) last announced its quarterly earnings results on Monday, October 23rd. The real estate investment trust reported $1.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.79. Sun Communities had a return on equity of 2.76% and a net margin of 7.37%. The business had revenue of $268.20 million for the quarter, compared to analyst estimates of $239.45 million. During the same quarter in the previous year, the firm earned $1.13 EPS. equities research analysts predict that Sun Communities will post 4.16 earnings per share for the current year.
In other news, Director Clunet R. Lewis sold 5,292 shares of the business’s stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $86.20, for a total transaction of $456,170.40. Following the completion of the sale, the director now owns 18,800 shares in the company, valued at $1,620,560. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Jonathan Colman sold 2,000 shares of the business’s 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,584 shares of company stock valued at $1,010,694. 4.15% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. Whitnell & Co. bought a new stake in shares of Sun Communities during the third quarter worth $139,000. Nationwide Fund Advisors raised its position in shares of Sun Communities by 18.4% during the second quarter. Nationwide Fund Advisors now owns 13,635 shares of the real estate investment trust’s stock worth $1,196,000 after acquiring an additional 2,122 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Sun Communities by 17.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 621,487 shares of the real estate investment trust’s stock worth $54,499,000 after acquiring an additional 92,444 shares during the last quarter. BlackRock Inc. raised its position 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 worth $450,100,000 after acquiring an additional 454,187 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Sun Communities by 70.7% during the second quarter. Goldman Sachs Group Inc. now owns 589,768 shares of the real estate investment trust’s stock worth $51,717,000 after acquiring an additional 244,273 shares during the last quarter. Institutional investors own 93.62% 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).
Receive News & Ratings for Sun Communities Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sun Communities Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.