Citigroup Increases Sun Communities (SUI) Price Target to $105.00

Sun Communities (NYSE:SUI) had its price target lifted by equities research analysts at Citigroup from $100.00 to $105.00 in a report released on Monday. The firm presently has a “hold” rating on the real estate investment trust’s stock. Citigroup’s price target indicates a potential upside of 3.25% from the stock’s current price.

A number of other equities research analysts have also commented on the stock. Robert W. Baird increased their price objective on shares of Sun Communities from $102.00 to $106.00 and gave the stock an “outperform” rating in a report on Monday, September 17th. Zacks Investment Research lowered shares of Sun Communities from a “buy” rating to a “hold” rating in a report on Thursday, September 13th. BMO Capital Markets increased their price objective on shares of Sun Communities to $109.00 and gave the stock an “outperform” rating in a report on Tuesday, September 11th. Royal Bank of Canada increased their price objective on shares of Sun Communities to $105.00 and gave the stock an “above average” rating in a report on Thursday, August 30th. They noted that the move was a valuation call. Finally, Wells Fargo & Co increased their price objective on shares of Sun Communities from $103.00 to $108.00 and gave the stock an “outperform” rating in a report on Friday, August 24th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Sun Communities presently has an average rating of “Buy” and a consensus price target of $104.57.

Shares of NYSE:SUI opened at $101.69 on Monday. Sun Communities has a 12 month low of $80.12 and a 12 month high of $103.74. The stock has a market cap of $8.73 billion, a price-to-earnings ratio of 24.39, a P/E/G ratio of 3.36 and a beta of 0.07.

Sun Communities (NYSE:SUI) last issued its quarterly earnings data on Wednesday, October 24th. The real estate investment trust reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.07. Sun Communities had a net margin of 10.16% and a return on equity of 3.95%. The firm had revenue of $323.54 million for the quarter, compared to analyst estimates of $292.22 million. On average, equities analysts forecast that Sun Communities will post 4.59 earnings per share for the current year.

In other news, Director Clunet R. Lewis sold 1,200 shares of the firm’s stock in a transaction dated Friday, September 28th. The shares were sold at an average price of $99.95, for a total value of $119,940.00. Following the transaction, the director now owns 19,400 shares of the company’s stock, valued at approximately $1,939,030. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.69% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of SUI. Principal Financial Group Inc. boosted its stake in shares of Sun Communities by 3.4% in the 1st quarter. Principal Financial Group Inc. now owns 2,965,275 shares of the real estate investment trust’s stock valued at $270,938,000 after purchasing an additional 98,004 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Sun Communities by 12.9% in the 1st quarter. Legal & General Group Plc now owns 273,920 shares of the real estate investment trust’s stock valued at $25,028,000 after purchasing an additional 31,397 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Sun Communities by 12.4% in the 1st quarter. Royal Bank of Canada now owns 92,013 shares of the real estate investment trust’s stock valued at $8,407,000 after purchasing an additional 10,171 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in shares of Sun Communities by 82.2% in the 1st quarter. Allianz Asset Management GmbH now owns 547,789 shares of the real estate investment trust’s stock valued at $50,051,000 after purchasing an additional 247,103 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Sun Communities in the 1st quarter valued at about $307,000. 92.77% of the stock is currently owned by institutional investors.

About Sun Communities

Sun Communities, Inc is a REIT that, as of June 30, 2018, owned, operated, or had an interest in a portfolio of 367 communities comprising approximately 126,000 developed sites in 31 states and Ontario, Canada. For more information about Sun Communities, Inc, please visit www.suncommunities.com.

Further Reading: Why is the ex-dividend date different from the record date?

Analyst Recommendations for Sun Communities (NYSE:SUI)

Receive News & Ratings for Sun Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sun Communities and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply