Sun Communities (NYSE: SUI – Get a rating) saw its price target lowered by equity researchers at BMO Capital Markets from $202.00 to $185.00 in a note issued to investors on Friday, Fly reports. BMO Capital Markets’ price target would point to a potential upside of 14.43% from the company’s previous close.
SUI has been the subject of a number of other research reports. Barclays lowered its target price on Sun Communities shares from $230.00 to $210.00 and set an “overweight” rating for the company in a research report on Friday. Robert W. Baird reduced the target price for Sun Communities shares from $210.00 to $205.00 in a Wednesday, March 30 research note. Evercore ISI set a target price of $194.00 on Sun Communities shares in a Monday, June 20 report. TheStreet downgraded Sun Communities from a “b” rating to a “c+” rating in a Monday, March 14 report. To finish, StockNews.com upgraded Sun Communities from a “hold” rating to a “sell” rating in a Thursday, May 5 research note. One financial analyst gave the stock a sell rating and six gave the stock a buy rating. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $206.25.
NYSE:SUI traded at $2.31 during Friday trading hours, hitting $161.67. 431,925 shares of the company were traded, against an average volume of 639,848. Sun Communities has a 52-week low of $148.64 and a 52-week high of $211.79. The stock has a 50-day simple moving average of $162.93 and a 200-day simple moving average of $179.52. The company has a market capitalization of $19.66 billion, a price-earnings ratio of 52.15, a PEG ratio of 2.53 and a beta of 0.64. The company has a debt ratio of 0.88, a current ratio of 3.40 and a quick ratio of 3.40.
Sun Communities (NYSE: SUI – Get a rating) last released its results on Monday, April 25. The real estate investment trust reported earnings per share of $0.01 for the quarter, missing analyst consensus estimates of $0.07 per ($0.06). Sun Communities had a net margin of 14.97% and a return on equity of 5.09%. During the same period last year, the company posted earnings per share of $1.26. On average, analysts predict Sun Communities will post 7.3 EPS for the current fiscal year.
In related news, COO John Bandini McLaren sold 11,500 shares of Sun Communities in a trade on Thursday, April 28. The shares were sold at an average price of $180.27, for a total transaction of $2,073,105.00. As a result of the sale, the chief operating officer now owns 148,691 shares of the company, valued at approximately $26,804,526.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. Also, director Clunet R. Lewis sold 4,400 shares of the company in a trade on Wednesday, June 15. The stock was sold at an average price of $153.39, for a total transaction of $674,916.00. Following the transaction, the administrator now directly owns 26,400 shares of the company, valued at $4,049,496. Disclosure of this sale can be found here. Insiders own 2.25% of the shares of the company.
A number of hedge funds have recently changed their positions in SUI. Tudor Investment Corp Et Al acquired a new position in shares of Sun Communities in Q3 valued at approximately $3,132,000. LPL Financial LLC increased its equity stake in Sun Communities by 8.2% in Q3. LPL Financial LLC now owns 11,553 shares of the real estate investment trust valued at $2,138,000 after purchasing an additional 879 shares during the period. Cetera Investment Advisers increased its stake in Sun Communities shares by 4.9% in the third quarter. Cetera Investment Advisers now owns 3,369 shares of the real estate investment trust worth $624,000 after purchasing an additional 158 shares during the period. Bank of New York Mellon Corp increased its holdings of Sun Communities shares by 4.9% in the third quarter. Bank of New York Mellon Corp now owns 466,297 shares of the real estate investment trust valued at $86,311,000 after purchasing an additional 21,807 shares during the period. Finally, Moors & Cabot Inc. acquired a new stock position in Sun Communities in Q3 worth approximately $26,000.
Sun Communities Company Profile (Get a rating)
Sun Communities, Inc is a REIT that, as of September 30, 2020, owned, operated or had an interest in a portfolio of 432 communities comprising nearly 146,000 developed sites in 32 states and Ontario, Canada.
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