Robert W. Baird lowered shares of Sun Communities (NYSE:SUI) from an outperform rating to a neutral rating in a report released on Friday, January 5th, MarketBeat Ratings reports. Robert W. Baird currently has $95.00 target price on the real estate investment trust’s stock, down from their previous target price of $100.00.

Several other equities research analysts have also commented on the stock. Zacks Investment Research upgraded shares of Sun Communities from a sell rating to a hold rating in a research note on Thursday, November 2nd. BMO Capital Markets reiterated a buy rating and issued a $96.00 price objective on shares of Sun Communities in a research note on Monday, October 23rd. Royal Bank of Canada increased their price objective on shares of Sun Communities from $95.00 to $96.00 and gave the company an outperform rating in a research note on Thursday, October 26th. ValuEngine upgraded shares of Sun Communities from a hold rating to a buy rating in a research note on Tuesday, November 14th. Finally, Evercore ISI upgraded shares of Sun Communities from an in-line rating to an outperform rating and set a $86.00 price target for the company in a research note on Monday, December 4th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $93.57.

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Sun Communities (SUI) traded down $1.42 during trading hours on Friday, reaching $88.03. 527,304 shares of the company’s stock traded hands, compared to its average volume of 385,521. The stock has a market cap of $7,097.19, a price-to-earnings ratio of 120.88, a price-to-earnings-growth ratio of 3.12 and a beta of 0.27. Sun Communities has a 52-week low of $77.81 and a 52-week high of $96.08.

Sun Communities (NYSE:SUI) last posted its quarterly earnings data 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. The firm had revenue of $268.20 million during the quarter, compared to analyst estimates of $239.45 million. Sun Communities had a net margin of 7.37% and a return on equity of 2.76%. During the same quarter last year, the business posted $1.13 EPS. equities research analysts expect that Sun Communities will post 4.16 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were paid a dividend of $0.67 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $2.68 annualized dividend and a dividend yield of 3.04%. Sun Communities’s payout ratio is currently 362.16%.

In other news, EVP Jonathan Colman sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $93.21, for a total transaction of $186,420.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.15% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SUI. SG Americas Securities LLC boosted its holdings in Sun Communities by 33.3% in the 2nd quarter. SG Americas Securities LLC now owns 4,822 shares of the real estate investment trust’s stock worth $423,000 after buying an additional 1,204 shares during the period. Comerica Bank boosted its holdings in Sun Communities by 4.7% in the 2nd quarter. Comerica Bank now owns 3,265 shares of the real estate investment trust’s stock worth $291,000 after buying an additional 148 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Sun Communities by 19.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,323 shares of the real estate investment trust’s stock worth $467,000 after buying an additional 861 shares during the period. Pacad Investment Ltd. bought a new position in Sun Communities in the 2nd quarter worth approximately $280,000. Finally, Swiss National Bank boosted its holdings in Sun Communities by 14.2% in the 2nd quarter. Swiss National Bank now owns 130,531 shares of the real estate investment trust’s stock worth $11,446,000 after buying an additional 16,200 shares during the period. 93.12% 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).

Analyst Recommendations for Sun Communities (NYSE:SUI)

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