Sun Communities (NYSE:SUI) Downgraded by Zacks Investment Research to Hold
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.
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