Evercore ISI Upgrades Sun Communities (SUI) to “Outperform”

Sun Communities (NYSE:SUI) was upgraded by stock analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a research note issued on Monday. The brokerage currently has a $86.00 price target on the real estate investment trust’s stock. Evercore ISI’s price target suggests a potential downside of 8.58% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the stock. BMO Capital Markets reiterated a “buy” rating and issued a $96.00 price objective on shares of Sun Communities in a report on Monday, October 23rd. Zacks Investment Research cut shares of Sun Communities from a “hold” rating to a “sell” rating in a report on Thursday, October 19th. Royal Bank Of Canada upped their price objective on shares of Sun Communities from $95.00 to $96.00 and gave the stock an “outperform” rating in a report on Thursday, October 26th. ValuEngine upgraded shares of Sun Communities from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $95.00 price objective on shares of Sun Communities in a report on Friday, September 8th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Sun Communities presently has a consensus rating of “Buy” and a consensus target price of $92.29.

Shares of Sun Communities (NYSE SUI) opened at $94.07 on Monday. The stock has a market cap of $7,460.00, a price-to-earnings ratio of 22.86, a P/E/G ratio of 3.58 and a beta of 0.27. Sun Communities has a fifty-two week low of $71.50 and a fifty-two week high of $95.44.

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, topping 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 period in the prior year, the company posted $1.13 earnings per share. equities analysts expect that Sun Communities will post 4.16 EPS for the current fiscal year.

In other Sun Communities news, Director Clunet R. Lewis sold 5,292 shares of the company’s stock in a transaction dated Tuesday, September 26th. The shares were 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 directly owns 18,800 shares in the company, valued at $1,620,560. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jonathan Colman sold 3,000 shares of the company’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $85.44, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 11,584 shares of company stock valued at $1,010,694 over the last 90 days. Corporate insiders own 4.15% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in 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 acquiring an additional 983,835 shares during the period. Cohen & Steers Inc. raised its position in shares of Sun Communities by 0.4% during the third quarter. Cohen & Steers Inc. now owns 9,567,842 shares of the real estate investment trust’s stock valued at $819,773,000 after buying an additional 41,383 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 valued at $450,100,000 after buying an additional 454,187 shares during the last quarter. Principal Financial Group Inc. raised its position 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 buying an additional 215,897 shares during the last quarter. Finally, State Street Corp raised its position 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 buying an additional 102,950 shares during the last quarter. Institutional investors own 93.62% of the company’s stock.

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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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