Sun Communities (SUI) PT Raised to $106.00 at Robert W. Baird

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Sun Communities (NYSE:SUI) had its price objective upped by Robert W. Baird from $102.00 to $106.00 in a research note published on Monday, September 17th. They currently have an outperform rating on the real estate investment trust’s stock.

SUI has been the subject of a number of other research reports. Royal Bank of Canada boosted their target price on shares of Sun Communities to $105.00 and gave the stock an above average rating in a research report on Thursday, August 30th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Sun Communities from a hold rating to a buy rating and set a $113.00 price objective on the stock in a report on Friday, September 7th. ValuEngine upgraded shares of Sun Communities from a hold rating to a buy rating in a report on Tuesday, May 29th. Citigroup boosted their price objective on shares of Sun Communities from $95.00 to $100.00 and gave the stock a neutral rating in a report on Monday, July 30th. Finally, BMO Capital Markets upped their target price on shares of Sun Communities from $97.00 to $102.00 and gave the company an outperform rating in a research note on Thursday, June 21st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has an average rating of Buy and a consensus price target of $103.86.

Shares of SUI stock traded down $0.43 on Monday, hitting $95.60. The company’s stock had a trading volume of 558,323 shares, compared to its average volume of 413,793. The firm has a market cap of $8.25 billion, a PE ratio of 22.93, a PEG ratio of 3.37 and a beta of 0.07. Sun Communities has a fifty-two week low of $80.12 and a fifty-two week high of $103.74.

Sun Communities (NYSE:SUI) last released its earnings results on Wednesday, July 25th. The real estate investment trust reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.03). The firm had revenue of $271.43 million for the quarter, compared to analyst estimates of $235.02 million. Sun Communities had a return on equity of 3.44% and a net margin of 8.91%. The firm’s revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.96 EPS. Sell-side analysts anticipate that Sun Communities will post 4.6 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $2.84 dividend on an annualized basis and a yield of 2.97%. Sun Communities’s payout ratio is currently 68.11%.

In other Sun Communities news, COO John Bandini Mclaren sold 6,500 shares of the business’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $96.16, for a total value of $625,040.00. Following the transaction, the chief operating officer now directly owns 162,294 shares in the company, valued at $15,606,191.04. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Clunet R. Lewis sold 1,200 shares of the business’s stock in a transaction dated Friday, September 28th. The shares were sold at an average price of $99.95, for a total transaction of $119,940.00. Following the completion of the transaction, the director now owns 19,400 shares in the company, valued at $1,939,030. The disclosure for this sale can be found here. Insiders own 3.69% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Strs Ohio lifted its position in shares of Sun Communities by 4.5% during the second quarter. Strs Ohio now owns 115,753 shares of the real estate investment trust’s stock worth $11,329,000 after purchasing an additional 5,033 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Sun Communities by 3.4% during the first quarter. Principal Financial Group Inc. now owns 2,965,275 shares of the real estate investment trust’s stock worth $270,938,000 after purchasing an additional 98,004 shares in the last quarter. US Bancorp DE lifted its position in shares of Sun Communities by 29.3% during the second quarter. US Bancorp DE now owns 9,833 shares of the real estate investment trust’s stock worth $962,000 after purchasing an additional 2,231 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in shares of Sun Communities during the second quarter worth approximately $137,000. Finally, Centersquare Investment Management LLC lifted its position in shares of Sun Communities by 1.2% during the second quarter. Centersquare Investment Management LLC now owns 1,625,352 shares of the real estate investment trust’s stock worth $159,090,000 after purchasing an additional 18,556 shares in the last quarter. Hedge funds and other institutional investors own 93.00% of the company’s stock.

About Sun Communities

Sun Communities, Inc is a REIT that, as of June 30, 2018, owned, operated, or had an interest in a portfolio of 367 communities comprising approximately 126,000 developed sites in 31 states and Ontario, Canada. For more information about Sun Communities, Inc, please visit www.suncommunities.com.

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Analyst Recommendations for Sun Communities (NYSE:SUI)

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