Zacks Investment Research Upgrades Sun Communities (SUI) to “Buy”
Sun Communities (NYSE:SUI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm presently has a $103.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s price target indicates a potential upside of 11.50% from the stock’s current price.
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. “
SUI has been the subject of several other research reports. Robert W. Baird restated a “buy” rating and issued a $100.00 target price on shares of Sun Communities in a research report on Monday, December 11th. Royal Bank of Canada upped their target price on shares of Sun Communities from $95.00 to $96.00 and gave the stock an “outperform” rating in a research report on Thursday, October 26th. Evercore ISI upgraded shares of Sun Communities from an “in-line” rating to an “outperform” rating and set a $86.00 target price for the company in a research report on Monday, December 4th. ValuEngine cut shares of Sun Communities from a “buy” rating to a “hold” rating in a research report on Tuesday, December 5th. Finally, BMO Capital Markets restated a “buy” rating and issued a $96.00 target price on shares of Sun Communities in a research report on Monday, October 23rd. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $94.29.
Shares of Sun Communities (SUI) opened at $92.38 on Wednesday. Sun Communities has a 1 year low of $74.83 and a 1 year high of $96.08. The firm has a market cap of $7,354.26, a PE ratio of 124.84, a P/E/G ratio of 3.54 and a beta of 0.27.
Sun Communities (NYSE:SUI) last announced its quarterly earnings data on Monday, October 23rd. The real estate investment trust reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.79. Sun Communities had a net margin of 7.37% and a return on equity of 2.76%. The business had revenue of $268.20 million during the quarter, compared to the consensus estimate of $239.45 million. During the same quarter in the prior year, the firm earned $1.13 EPS. sell-side analysts predict that Sun Communities will post 4.16 earnings per share for the current year.
In other Sun Communities news, EVP Jonathan Colman sold 2,000 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $93.21, for a total value of $186,420.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.15% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the company. Whitnell & Co. acquired a new stake in shares of Sun Communities in the 3rd quarter worth approximately $139,000. Public Employees Retirement Association of Colorado lifted its stake in shares of Sun Communities by 6.3% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 2,255 shares of the real estate investment trust’s stock worth $198,000 after acquiring an additional 133 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Sun Communities by 8.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,299 shares of the real estate investment trust’s stock worth $202,000 after acquiring an additional 178 shares during the period. Raymond James Trust N.A. acquired a new stake in shares of Sun Communities in the 2nd quarter worth approximately $224,000. Finally, Virtu KCG Holdings LLC acquired a new stake in shares of Sun Communities in the 2nd quarter worth approximately $231,000. 93.58% of the stock is owned by institutional investors.
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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).
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