Sun Communities (NYSE:SUI) Sets New 1-Year High at $147.79

Sun Communities Inc (NYSE:SUI) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $147.79 and last traded at $147.48, with a volume of 44756 shares. The stock had previously closed at $146.70.

SUI has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Sun Communities from a “buy” rating to a “hold” rating in a report on Wednesday, June 5th. BMO Capital Markets raised their price objective on shares of Sun Communities to $132.00 and gave the stock an “outperform” rating in a report on Monday, June 3rd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Sun Communities currently has an average rating of “Hold” and an average target price of $118.67.

The company has a market cap of $13.24 billion, a PE ratio of 32.20, a P/E/G ratio of 5.04 and a beta of 0.27. The business’s fifty day moving average is $136.12 and its 200-day moving average is $124.57.

Sun Communities (NYSE:SUI) last posted its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.67). The business had revenue of $312.45 million during the quarter, compared to analysts’ expectations of $295.20 million. Sun Communities had a return on equity of 4.01% and a net margin of 11.05%. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.07 EPS. As a group, equities analysts expect that Sun Communities Inc will post 4.87 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Penserra Capital Management LLC bought a new stake in Sun Communities during the 1st quarter worth approximately $58,000. Whittier Trust Co. bought a new stake in Sun Communities during the 2nd quarter worth approximately $82,000. Altshuler Shaham Ltd raised its stake in Sun Communities by 94.1% during the 2nd quarter. Altshuler Shaham Ltd now owns 720 shares of the real estate investment trust’s stock worth $93,000 after acquiring an additional 349 shares during the period. Optimum Investment Advisors raised its stake in Sun Communities by 14.8% during the 1st quarter. Optimum Investment Advisors now owns 775 shares of the real estate investment trust’s stock worth $92,000 after acquiring an additional 100 shares during the period. Finally, Canada Pension Plan Investment Board bought a new stake in Sun Communities during the 2nd quarter worth approximately $115,000. Institutional investors own 90.36% of the company’s stock.

Sun Communities Company Profile (NYSE:SUI)

Sun Communities, Inc is a REIT that, as of March 31, 2019, owned, operated, or had an interest in a portfolio of 379 communities comprising over 132,000 developed sites in 31 states and Ontario, Canada.

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