Traders Sell Shares of Sun Communities Inc. (SUI) on Strength (SUI)
Traders sold shares of Sun Communities Inc. (NYSE:SUI) on strength during trading hours on Friday. $4.40 million flowed into the stock on the tick-up and $28.25 million flowed out of the stock on the tick-down, for a money net flow of $23.85 million out of the stock. Of all equities tracked, Sun Communities had the 0th highest net out-flow for the day. Sun Communities traded up $0.56 for the day and closed at $77.06
A number of brokerages have issued reports on SUI. TheStreet cut Sun Communities from a “buy” rating to a “hold” rating in a report on Friday, August 26th. Zacks Investment Research raised Sun Communities from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a report on Wednesday, July 27th. Finally, Citigroup Inc. upped their target price on Sun Communities from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, July 7th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Sun Communities currently has an average rating of “Hold” and a consensus target price of $80.33.
The company’s 50 day moving average price is $77.19 and its 200-day moving average price is $72.11. The company has a market cap of $5.29 billion and a PE ratio of 38.45.
Sun Communities (NYSE:SUI) last posted its quarterly earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.85 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.03. The company earned $140 million during the quarter, compared to the consensus estimate of $165.78 million. During the same period in the previous year, the business earned $0.87 earnings per share. Sun Communities’s revenue was up 15.0% on a year-over-year basis. Equities research analysts expect that Sun Communities Inc. will post $3.76 earnings per share for the current fiscal year.
In other news, Director Clunet R. Lewis sold 1,800 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $78.16, for a total value of $140,688.00. Following the completion of the transaction, the director now directly owns 18,400 shares of the company’s stock, valued at $1,438,144. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gary A. Shiffman sold 21,570 shares of the firm’s stock in a transaction on Wednesday, June 29th. The stock was sold at an average price of $75.71, for a total value 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 disclosure for this sale can be found here.
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.
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