Zacks Investment Research cut shares of Sun Communities (NYSE:SUI) from a buy rating to a hold rating in a research report sent to investors on Thursday.

According to Zacks, “Sun Communities, Inc. owns, operates & finances manufactured housing communities concentrated in the midwestern & southeastern US. The Company is a fully integrated real estate company which, together with its affiliates and predecessors, has been in the business of acquiring, operating & expanding manufactured housing communities since 1975. The Company owns & manages a portfolio of properties located in twelve states, including manufactured housing communities, recreational vehicle communities, & properties containing both manufactured housing & recreational vehicle sites. “

Several other research firms have also commented on SUI. Robert W. Baird restated a buy rating and issued a $100.00 price target on shares of Sun Communities in a report on Monday, December 11th. ValuEngine lowered shares of Sun Communities from a buy rating to a hold rating in a report on Tuesday, December 5th. Evercore ISI upgraded shares of Sun Communities from an in-line rating to an outperform rating and set a $86.00 price target on the stock in a report on Monday, December 4th. Royal Bank of Canada raised their price target on shares of Sun Communities from $95.00 to $96.00 and gave the company an outperform rating in a report on Thursday, October 26th. Finally, BMO Capital Markets reaffirmed a buy rating and issued a $96.00 price objective on shares of Sun Communities in a research report on Monday, October 23rd. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $94.29.

Sun Communities (NYSE SUI) opened at $92.78 on Thursday. The stock has a market cap of $7,360.00, a PE ratio of 125.38, a price-to-earnings-growth ratio of 3.53 and a beta of 0.27. Sun Communities has a 1-year low of $75.48 and a 1-year high of $96.08.

Sun Communities (NYSE:SUI) last announced its quarterly earnings data on Monday, October 23rd. The real estate investment trust reported $1.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.79. The business had revenue of $268.20 million for the quarter, compared to analyst estimates of $239.45 million. Sun Communities had a net margin of 7.37% and a return on equity of 2.76%. During the same period in the prior year, the firm posted $1.13 EPS. analysts forecast that Sun Communities will post 4.16 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date is Thursday, December 28th. Sun Communities’s payout ratio is currently 362.16%.

In other Sun Communities news, EVP Jonathan Colman sold 2,000 shares of Sun Communities stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $93.21, for a total value of $186,420.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.15% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Whitnell & Co. bought a new stake in Sun Communities in the third quarter valued at $139,000. Public Employees Retirement Association of Colorado lifted its stake in Sun Communities by 6.3% in the second 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 buying an additional 133 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Sun Communities by 8.4% in the second quarter. The Manufacturers Life Insurance Company now owns 2,299 shares of the real estate investment trust’s stock valued at $202,000 after buying an additional 178 shares during the last quarter. Raymond James Trust N.A. bought a new stake in Sun Communities in the second quarter valued at $224,000. Finally, Virtu KCG Holdings LLC bought a new stake in Sun Communities in the second quarter valued at $231,000. 93.58% of the stock is owned by hedge funds and other institutional investors.

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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).

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