Robert W. Baird Reiterates “Buy” Rating for Sun Communities, Inc. (SUI)

Robert W. Baird restated their buy rating on shares of Sun Communities, Inc. (NYSE:SUI) in a report released on Friday. They currently have a $95.00 price objective on the real estate investment trust’s stock.

Several other equities analysts have also recently weighed in on the stock. BidaskClub cut shares of Sun Communities from a strong-buy rating to a buy rating in a research note on Friday, June 30th. Zacks Investment Research raised shares of Sun Communities from a hold rating to a buy rating and set a $102.00 target price for the company in a research note on Friday, June 23rd. Royal Bank Of Canada reissued a buy rating and issued a $92.00 target price on shares of Sun Communities in a research note on Sunday, July 16th. Finally, Bank of America Corporation raised shares of Sun Communities from an underperform rating to a buy rating and set a $93.00 target price for the company in a research note on Monday, May 22nd. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $90.86.

Shares of Sun Communities (NYSE SUI) opened at 90.03 on Friday. The stock has a 50 day moving average of $89.18 and a 200-day moving average of $85.84. Sun Communities has a 52 week low of $69.90 and a 52 week high of $91.87. The firm has a market capitalization of $7.11 billion, a PE ratio of 128.80 and a beta of 0.29.

Sun Communities (NYSE:SUI) last released its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.19 by $0.03. Sun Communities had a net margin of 6.82% and a return on equity of 2.59%. The firm had revenue of $237.90 million during the quarter, compared to the consensus estimate of $210.58 million. During the same period in the prior year, the business posted $0.85 earnings per share. Sun Communities’s quarterly revenue was up 24.7% compared to the same quarter last year. Equities analysts anticipate that Sun Communities will post $0.99 earnings per share for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a $0.67 dividend. The ex-dividend date is Thursday, September 28th. This represents a $2.68 annualized dividend and a dividend yield of 2.98%. Sun Communities’s dividend payout ratio is presently 382.86%.

In other Sun Communities news, COO John Bandini Mclaren sold 5,400 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $88.43, for a total transaction of $477,522.00. Following the completion of the sale, the chief operating officer now owns 153,159 shares of the company’s stock, valued at approximately $13,543,850.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.15% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. US Bancorp DE lifted its holdings in Sun Communities by 105.2% during the 2nd quarter. US Bancorp DE now owns 1,473 shares of the real estate investment trust’s stock valued at $129,000 after purchasing an additional 755 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its holdings in Sun Communities by 6.3% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 2,255 shares of the real estate investment trust’s stock valued at $198,000 after purchasing an additional 133 shares during the last quarter. Laurion Capital Management LP acquired a new stake in Sun Communities during the 1st quarter valued at $201,000. Moody Aldrich Partners LLC acquired a new stake in Sun Communities during the 2nd quarter valued at $201,000. Finally, Nine Chapters Capital Management LLC acquired a new stake in Sun Communities during the 2nd quarter valued at $202,000. 94.46% of the stock is owned by institutional investors and hedge funds.

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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