Investors Sell 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 research analysts recently weighed in on the company. 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 research report on Wednesday, July 27th. Citigroup Inc. raised their price objective on Sun Communities from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, July 7th. Finally, TheStreet lowered Sun Communities from a “buy” rating to a “hold” rating in a research report on Friday, August 26th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $80.33.
The firm has a market capitalization of $5.29 billion and a price-to-earnings ratio of 38.45. The company has a 50 day moving average price of $77.19 and a 200-day moving average price of $72.11.
Sun Communities (NYSE:SUI) last announced its earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.87 EPS. On average, equities research analysts expect that Sun Communities Inc. will post $3.79 earnings per share for the current year.
In other Sun Communities news, Director Clunet R. Lewis sold 1,800 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $78.16, for a total transaction of $140,688.00. Following the completion of the transaction, the director now owns 18,400 shares in the company, valued at $1,438,144. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul D. Lapides sold 6,127 shares of the business’s stock in a transaction that occurred on Wednesday, June 8th. The shares were sold at an average price of $68.23, for a total value of $418,045.21. Following the transaction, the director now owns 12,400 shares of the company’s stock, valued at approximately $846,052. 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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