Sun Communities (NYSE:SUI) Upgraded at Zacks Investment Research

Sun Communities (NYSE:SUI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday, Zacks.com reports. The brokerage currently has a $216.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s price objective points to a potential upside of 7.95% from the company’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. “

Other equities analysts also recently issued research reports about the company. Royal Bank of Canada upped their price objective on Sun Communities from $216.00 to $227.00 and gave the company an “outperform” rating in a research report on Wednesday, November 17th. BMO Capital Markets assumed coverage on Sun Communities in a report on Wednesday, November 17th. They issued a “buy” rating and a $224.00 price objective for the company. Finally, Barclays initiated coverage on shares of Sun Communities in a report on Wednesday, September 1st. They set an “overweight” rating and a $232.00 target price on the stock. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $202.57.

Shares of Sun Communities stock opened at $200.09 on Wednesday. The stock’s fifty day moving average is $194.10 and its two-hundred day moving average is $187.39. The company has a market capitalization of $23.20 billion, a PE ratio of 61.00, a price-to-earnings-growth ratio of 2.51 and a beta of 0.59. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.66. Sun Communities has a 52 week low of $137.43 and a 52 week high of $209.98.

Sun Communities (NYSE:SUI) last announced its quarterly earnings data on Sunday, October 24th. The real estate investment trust reported $2.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.99. Sun Communities had a return on equity of 5.76% and a net margin of 17.73%. During the same period in the prior year, the firm posted $1.60 EPS. As a group, research analysts anticipate that Sun Communities will post 6.47 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Achmea Investment Management B.V. purchased a new position in shares of Sun Communities in the 3rd quarter worth approximately $25,000. MUFG Americas Holdings Corp lifted its stake in shares of Sun Communities by 1,126.7% in the 3rd quarter. MUFG Americas Holdings Corp now owns 184 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 169 shares during the period. First Horizon Advisors Inc. lifted its stake in shares of Sun Communities by 219.4% in the 3rd quarter. First Horizon Advisors Inc. now owns 198 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 136 shares during the period. Berman Capital Advisors LLC lifted its stake in shares of Sun Communities by 49.7% in the 3rd quarter. Berman Capital Advisors LLC now owns 214 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 71 shares during the period. Finally, Manchester Capital Management LLC acquired a new position in shares of Sun Communities in the 3rd quarter valued at $51,000. 94.04% of the stock is currently owned by institutional investors and hedge funds.

Sun Communities Company Profile

Sun Communities, Inc provides real estate management services. The firm operates through the following segments: Real Property Operations and Home Sales and Rentals. The Real Property Operations segment owns, operates, and develops manufacture housing communities and recreational vehicle communities throughout the United States and is in the business of acquiring, operating, and expanding manufactured housing and recreational vehicle communities.

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