Investors Sell Sun Communities Inc. (SUI) on Strength (SUI)
Traders sold shares of Sun Communities Inc. (NYSE:SUI) on strength during trading on Monday. $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 stocks tracked, Sun Communities had the 23rd highest net out-flow for the day. Sun Communities traded up $0.56 for the day and closed at $77.06
Several research firms have recently issued reports on SUI. TheStreet lowered 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 on the stock in a report on Wednesday, July 27th. Finally, Citigroup Inc. increased 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 equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $80.33.
The firm has a market capitalization of $5.29 billion and a price-to-earnings ratio of 38.45. The firm has a 50 day moving average of $77.19 and a 200 day moving average of $72.11.
Sun Communities (NYSE:SUI) last issued 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 firm earned $140 million during the quarter, compared to the consensus estimate of $165.78 million. During the same quarter in the previous year, the firm earned $0.87 earnings per share. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. Analysts predict that Sun Communities Inc. will post $3.79 earnings per share for the current year.
In other news, Director Paul D. Lapides sold 6,127 shares of Sun Communities stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $68.23, for a total value of $418,045.21. Following the completion of the transaction, the director now directly owns 12,400 shares in the company, valued at $846,052. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Clunet R. Lewis sold 1,800 shares of Sun Communities stock in a transaction on Wednesday, August 3rd. The shares were 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 owns 18,400 shares of the company’s stock, valued at $1,438,144. 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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