Sun Communities, Inc. (NYSE:SUI) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

SUI has been the subject of a number of other reports. Royal Bank Of Canada raised their price objective on Sun Communities from $95.00 to $96.00 and gave the company an “outperform” rating in a research report on Thursday, October 26th. Zacks Investment Research cut Sun Communities from a “hold” rating to a “sell” rating in a research report on Thursday, October 19th. Robert W. Baird reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Sun Communities in a research report on Friday, September 8th. Finally, BMO Capital Markets started coverage on Sun Communities in a research report on Monday, October 9th. They issued an “outperform” rating and a $96.00 price objective for the company. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $92.29.

Sun Communities (SUI) traded down $0.86 during mid-day trading on Tuesday, reaching $92.72. The company’s stock had a trading volume of 354,500 shares, compared to its average volume of 362,589. The company has a market capitalization of $7,360.00, a P/E ratio of 22.82, a price-to-earnings-growth ratio of 3.57 and a beta of 0.28. Sun Communities has a 12-month low of $69.90 and a 12-month high of $93.85.

Sun Communities (NYSE:SUI) last released its quarterly earnings data on Monday, October 23rd. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.79. Sun Communities had a return on equity of 2.76% and a net margin of 7.37%. The company had revenue of $268.20 million during the quarter, compared to analysts’ expectations of $239.45 million. During the same period last year, the firm posted $1.13 earnings per share. sell-side analysts predict that Sun Communities will post 4.16 earnings per share for the current fiscal year.

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In other Sun Communities news, Director Clunet R. Lewis sold 5,292 shares of Sun Communities stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $86.20, for a total value of $456,170.40. Following the completion of the transaction, the director now directly owns 18,800 shares of the company’s stock, valued at approximately $1,620,560. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Clunet R. Lewis sold 1,292 shares of Sun Communities stock in a transaction on Monday, September 25th. The shares were sold at an average price of $86.52, for a total value of $111,783.84. Following the completion of the transaction, the director now directly owns 18,800 shares of the company’s stock, valued at $1,626,576. The disclosure for this sale can be found here. Insiders sold a total of 11,584 shares of company stock valued at $1,010,694 over the last ninety days. Insiders own 4.15% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Sun Communities by 9.4% in the 2nd quarter. Vanguard Group Inc. now owns 11,504,907 shares of the real estate investment trust’s stock valued at $1,008,865,000 after purchasing an additional 983,835 shares during the last quarter. Cohen & Steers Inc. increased its stake in shares of Sun Communities by 0.4% in the 3rd quarter. Cohen & Steers Inc. now owns 9,567,842 shares of the real estate investment trust’s stock valued at $819,773,000 after purchasing an additional 41,383 shares during the last quarter. BlackRock Inc. increased its stake in shares of Sun Communities by 9.7% in the 2nd quarter. BlackRock Inc. now owns 5,132,844 shares of the real estate investment trust’s stock valued at $450,100,000 after purchasing an additional 454,187 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Sun Communities by 2.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 3,903,615 shares of the real estate investment trust’s stock valued at $342,308,000 after purchasing an additional 107,844 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Sun Communities by 8.1% in the 3rd quarter. Principal Financial Group Inc. now owns 2,891,855 shares of the real estate investment trust’s stock valued at $247,774,000 after purchasing an additional 215,897 shares during the last quarter. Institutional investors own 94.34% of the company’s stock.

About Sun Communities

Sun Communities, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company is a fully integrated real estate company, which, together with its affiliates and predecessors, has been in the business of acquiring, operating, developing, and expanding manufactured housing (MH) and recreational vehicle (RV).

Analyst Recommendations for Sun Communities (NYSE:SUI)

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