ValuEngine Upgrades Sun Communities (NYSE:SUI) to Buy

Sun Communities (NYSE:SUI) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, November 14th.

Several other research analysts have also weighed in on the stock. Zacks Investment Research raised shares of Sun Communities from a “sell” rating to a “hold” rating in a research note on Thursday, November 2nd. Royal Bank Of Canada increased their target price on shares of Sun Communities from $95.00 to $96.00 and gave the stock an “outperform” rating in a research note on Thursday, October 26th. BMO Capital Markets reaffirmed a “buy” rating and set a $96.00 target price on shares of Sun Communities in a research note on Monday, October 23rd. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $95.00 target price on shares of Sun Communities in a research note on Friday, September 8th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Sun Communities currently has a consensus rating of “Buy” and an average target price of $92.29.

Shares of Sun Communities (NYSE SUI) traded up $0.66 on Tuesday, hitting $93.73. 289,976 shares of the company were exchanged, compared to its average volume of 265,745. The stock has a market capitalization of $7,436.82, 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 12-month low of $71.27 and a 12-month high of $93.98.

Sun Communities (NYSE:SUI) last announced its earnings results on Monday, October 23rd. The real estate investment trust reported $1.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.79. The company 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 firm posted $1.13 earnings per share. sell-side analysts expect that Sun Communities will post 4.16 EPS for the current fiscal year.

In other news, Director Clunet R. Lewis sold 5,292 shares of the firm’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $86.20, for a total value of $456,170.40. Following the completion of the transaction, the director now owns 18,800 shares of the company’s stock, valued at $1,620,560. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Jonathan Colman sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $85.44, for a total transaction of $256,320.00. Following the completion of the transaction, the executive vice president now directly owns 33,985 shares of the company’s stock, valued at approximately $2,903,678.40. The disclosure for this sale can be found here. In the last three months, insiders sold 11,584 shares of company stock valued at $1,010,694. Insiders own 4.15% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio raised its holdings in Sun Communities by 12.7% in the third quarter. Public Employees Retirement System of Ohio now owns 123,960 shares of the real estate investment trust’s stock valued at $10,621,000 after acquiring an additional 13,968 shares in the last quarter. Eii Capital Management Inc. acquired a new stake in Sun Communities in the third quarter valued at approximately $1,958,000. California Public Employees Retirement System raised its holdings in Sun Communities by 12.9% in the third quarter. California Public Employees Retirement System now owns 140,319 shares of the real estate investment trust’s stock valued at $12,023,000 after acquiring an additional 16,019 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Sun Communities by 1.3% in the third quarter. Janus Henderson Group PLC now owns 817,168 shares of the real estate investment trust’s stock valued at $70,015,000 after acquiring an additional 10,636 shares in the last quarter. Finally, Cohen & Steers Inc. raised its holdings in Sun Communities by 0.4% in 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 acquiring an additional 41,383 shares in the last quarter. 93.64% of the stock is currently owned by hedge funds and other 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).

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Sun Communities (NYSE:SUI)

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