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. “
Several other research firms have also issued reports on SUI. Barclays lowered their price target on Sun Communities from $236.00 to $230.00 and set an “overweight” rating for the company in a research report on Thursday, April 14th. JMP Securities started coverage on Sun Communities in a research report on Wednesday, April 20th. They issued an “outperform” rating and a $220.00 price target for the company. TheStreet lowered Sun Communities from a “b” rating to a “c+” rating in a research report on Monday, March 14th. Robert W. Baird lowered their price target on Sun Communities from $210.00 to $205.00 in a research report on Wednesday, March 30th. Finally, StockNews.com lowered Sun Communities from a “hold” rating to a “sell” rating in a research report on Thursday, May 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Sun Communities currently has a consensus rating of “Buy” and a consensus target price of $211.50.
Shares of Sun Communities stock opened at $165.77 on Friday. The company has a current ratio of 3.40, a quick ratio of 3.40 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $20.16 billion, a P/E ratio of 53.47, a P/E/G ratio of 2.56 and a beta of 0.64. The business has a fifty day simple moving average of $172.51 and a two-hundred day simple moving average of $184.81. Sun Communities has a 12 month low of $151.51 and a 12 month high of $211.79.
Sun Communities (NYSE:SUI – Get Rating) last announced its quarterly earnings data on Monday, April 25th. The real estate investment trust reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). Sun Communities had a net margin of 14.97% and a return on equity of 5.09%. During the same period in the previous year, the business posted $1.26 EPS. Analysts predict that Sun Communities will post 7.3 earnings per share for the current year.
In related news, COO John Bandini Mclaren sold 11,500 shares of the business’s stock in a transaction that occurred on Thursday, April 28th. The stock was sold at an average price of $180.27, for a total transaction of $2,073,105.00. Following the completion of the transaction, the chief operating officer now directly owns 148,691 shares in the company, valued at approximately $26,804,526.57. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.25% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Verition Fund Management LLC lifted its holdings in Sun Communities by 125.1% in the 1st quarter. Verition Fund Management LLC now owns 10,025 shares of the real estate investment trust’s stock worth $1,757,000 after purchasing an additional 5,572 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Sun Communities by 6.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,227 shares of the real estate investment trust’s stock worth $2,669,000 after purchasing an additional 946 shares in the last quarter. First National Bank of Omaha raised its holdings in shares of Sun Communities by 37.6% during the 1st quarter. First National Bank of Omaha now owns 54,471 shares of the real estate investment trust’s stock worth $9,548,000 after acquiring an additional 14,898 shares in the last quarter. Phocas Financial Corp. raised its holdings in shares of Sun Communities by 4.1% during the 1st quarter. Phocas Financial Corp. now owns 12,133 shares of the real estate investment trust’s stock worth $2,127,000 after acquiring an additional 482 shares in the last quarter. Finally, Aurora Investment Counsel raised its holdings in shares of Sun Communities by 5.7% during the 1st quarter. Aurora Investment Counsel now owns 9,323 shares of the real estate investment trust’s stock worth $1,634,000 after acquiring an additional 502 shares in the last quarter.
About Sun Communities (Get Rating)
Sun Communities, Inc is a REIT that, as of September 30, 2020, owned, operated, or had an interest in a portfolio of 432 communities comprising nearly 146,000 developed sites in 32 states and Ontario, Canada.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Sun Communities, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Sun Communities wasn’t on the list.
While Sun Communities currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.