Sun Communities (NYSE:SUI – Get Rating) was upgraded by equities researchers at StockNews.com to a "sell" rating in a research note issued on Tuesday.
SUI has been the topic of a number of other research reports. JMP Securities restated a "market outperform" rating and set a $160.00 target price on shares of Sun Communities in a report on Wednesday, March 8th. Truist Financial boosted their price objective on shares of Sun Communities from $147.00 to $163.00 and gave the company a "buy" rating in a report on Wednesday, November 30th. Finally, Robert W. Baird lowered their target price on shares of Sun Communities from $175.00 to $169.00 in a research note on Friday, November 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $168.86.
Get Sun Communities alerts:Sun Communities Trading Down 1.7 %
Shares of NYSE:SUI traded down $2.31 during midday trading on Tuesday, hitting $133.57. The company had a trading volume of 579,957 shares, compared to its average volume of 557,814. The firm has a fifty day simple moving average of $148.74 and a 200 day simple moving average of $143.03. The stock has a market cap of $16.62 billion, a price-to-earnings ratio of 67.46, a PEG ratio of 2.76 and a beta of 0.70. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.89. Sun Communities has a 12 month low of $117.63 and a 12 month high of $193.67.
Insiders Place Their Bets
In related news, Director Clunet R. Lewis sold 1,500 shares of the stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $148.51, for a total transaction of $222,765.00. Following the completion of the transaction, the director now directly owns 26,900 shares in the company, valued at $3,994,919. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.25% of the company's stock.
Institutional Trading of Sun Communities
Institutional investors have recently made changes to their positions in the business. Advisors Asset Management Inc. boosted its position in Sun Communities by 7.6% during the third quarter. Advisors Asset Management Inc. now owns 8,215 shares of the real estate investment trust's stock valued at $1,112,000 after purchasing an additional 577 shares during the last quarter. Natixis Advisors L.P. boosted its holdings in shares of Sun Communities by 8.3% in the 2nd quarter. Natixis Advisors L.P. now owns 134,604 shares of the real estate investment trust's stock valued at $21,450,000 after buying an additional 10,345 shares during the last quarter. Ethic Inc. boosted its holdings in shares of Sun Communities by 30.8% in the 3rd quarter. Ethic Inc. now owns 3,268 shares of the real estate investment trust's stock valued at $442,000 after buying an additional 770 shares during the last quarter. Apollon Wealth Management LLC grew its stake in shares of Sun Communities by 6.4% in the third quarter. Apollon Wealth Management LLC now owns 2,629 shares of the real estate investment trust's stock valued at $356,000 after buying an additional 157 shares in the last quarter. Finally, Capital Square LLC increased its holdings in Sun Communities by 31.5% during the third quarter. Capital Square LLC now owns 8,577 shares of the real estate investment trust's stock worth $1,160,000 after buying an additional 2,055 shares during the last quarter. Institutional investors own 93.31% of the company's stock.
About Sun Communities
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Sun Communities, Inc provides real estate management services. The firm operates through the following segments: Manufactured Home Communities, Recreational Vehicle, and Marina. The Manufactured Home Communities segment owns, operates, and develops manufactured housing communities and is in the business of acquiring, operating, and developing ground up communities to provide housing solutions.
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