Robert W. Baird Has Lowered Expectations for Sun Communities (NYSE:SUI) Stock Price

Sun Communities (NYSE:SUI) had its price target lowered by equities research analysts at Robert W. Baird from $138.00 to $131.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Robert W. Baird‘s price target points to a potential upside of 8.93% from the company’s previous close.

SUI has been the topic of several other reports. Bank of America upgraded Sun Communities from an “underperform” rating to a “neutral” rating and set a $140.00 target price on the stock in a report on Thursday, August 27th. Weiss Ratings cut Sun Communities from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, November 4th. Evercore reiterated an “outperform” rating on shares of Sun Communities in a research report on Wednesday, October 28th. Royal Bank Of Canada lowered their price objective on Sun Communities from $148.00 to $140.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 13th. Finally, Wall Street Zen cut Sun Communities from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Sun Communities has an average rating of “Moderate Buy” and a consensus target price of $135.65.

Sun Communities Stock Performance

SUI opened at $120.26 on Tuesday. The firm has a market capitalization of $14.36 billion, a PE ratio of -19.52, a PEG ratio of 6.14 and a beta of 0.75. Sun Communities has a twelve month low of $109.77 and a twelve month high of $137.85. The firm’s 50-day moving average price is $115.65 and its 200 day moving average price is $123.26. The company has a current ratio of 4.68, a quick ratio of 4.68 and a debt-to-equity ratio of 0.69.

Sun Communities (NYSE:SUI) last announced its quarterly earnings data on Monday, October 26th. The real estate investment trust reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.05. The company had revenue of $558.20 million during the quarter, compared to analysts’ expectations of $563.59 million. Sun Communities had a negative net margin of 36.00% and a positive return on equity of 5.02%. Sun Communities’s revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.28 EPS. As a group, sell-side analysts expect that Sun Communities will post 7.03 EPS for the current fiscal year.

Institutional Trading of Sun Communities

A number of large investors have recently modified their holdings of the stock. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Sun Communities in the third quarter valued at $3,988,000. HighTower Advisors LLC grew its stake in Sun Communities by 42.7% during the 3rd quarter. HighTower Advisors LLC now owns 8,066 shares of the real estate investment trust’s stock worth $894,000 after purchasing an additional 2,415 shares in the last quarter. Bessemer Group Inc. grew its stake in Sun Communities by 672.5% during the 3rd quarter. Bessemer Group Inc. now owns 618 shares of the real estate investment trust’s stock worth $69,000 after purchasing an additional 538 shares in the last quarter. Hantz Financial Services Inc. grew its stake in Sun Communities by 851.2% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,617 shares of the real estate investment trust’s stock worth $179,000 after purchasing an additional 1,447 shares in the last quarter. Finally, Danske Bank A S increased its holdings in Sun Communities by 0.4% during the 3rd quarter. Danske Bank A S now owns 74,303 shares of the real estate investment trust’s stock worth $8,231,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 99.59% of the company’s stock.

About Sun Communities

Sun Communities, Inc is a real estate investment trust that owns and operates manufactured housing communities, recreational vehicle (RV) communities and resorts, and marinas. Its properties serve long-term residents as well as vacationers and boaters, with offerings that include home sites, RV accommodations, boat slips and related amenities.

Founded in 1975, the company has expanded beyond its original manufactured housing business through acquisitions and development. Its portfolio spans the United States, Canada and the United Kingdom.

Sun Communities is headquartered in Southfield, Michigan.