Sun Communities Inc. (SUI) Sees Strong Trading Volume
Sun Communities Inc. (NYSE:SUI) shares saw unusually-high trading volume on Thursday . Approximately 548,756 shares were traded during mid-day trading, an increase of 26% from the previous session’s volume of 433,902 shares.The stock last traded at $75.95 and had previously closed at $75.76.
SUI has been the subject of several analyst reports. Citigroup Inc. lifted their price objective on Sun Communities from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, July 7th. Zacks Investment Research raised Sun Communities from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a report on Wednesday, July 27th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $80.33.
The firm has a market capitalization of $5.14 billion and a P/E ratio of 37.38. The company has a 50-day moving average price of $77.18 and a 200-day moving average price of $71.73.
Sun Communities (NYSE:SUI) last issued its quarterly earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.03. The business had revenue of $140 million for the quarter, compared to analysts’ expectations of $165.78 million. The business’s revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.87 earnings per share. Equities analysts expect that Sun Communities Inc. will post $3.76 earnings per share for the current fiscal year.
In other Sun Communities news, CEO Gary A. Shiffman sold 21,570 shares of the stock in a transaction on Wednesday, June 29th. The stock was sold at an average price of $75.71, for a total transaction of $1,633,064.70. Following the completion of the transaction, the chief executive officer now directly owns 1,348,460 shares of the company’s stock, valued at $102,091,906.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gary A. Shiffman sold 18,642 shares of the stock in a transaction on Thursday, June 30th. The shares were sold at an average price of $75.67, for a total value of $1,410,640.14. Following the transaction, the chief executive officer now directly owns 1,326,790 shares of the company’s stock, valued at $100,398,199.30. The disclosure for this sale can be found here.
An institutional investor recently bought a new position in Sun Communities stock. Employees Retirement System of Texas acquired a new stake in shares of Sun Communities Inc. (NYSE:SUI) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 44,000 shares of the real estate investment trust’s stock, valued at approximately $3,015,000. Employees Retirement System of Texas owned 0.08% of Sun Communities at the end of the most recent reporting period.
Sun Communities, Inc (SHS) is a self-administered and self-managed real estate investment trust (REIT). The Company operates in two segments: Real Property Operations, and Home Sales and Rentals. The Real Property Operations segment owns, operates and develops manufactured housing (MH) and recreational vehicle (RV) throughout the United States and is in the business of acquiring, operating and expanding MH and RV communities.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.