Sun Communities (NYSE:SUI) Stock Price Target Lowered at Robert W. Baird

Key Points

• Robert W. Baird cut its price target on Sun Communities from $138 to $131 and maintained a neutral rating; the new target implies 8.93% upside from the prior close.
• Analyst views are mixed, but the consensus is Moderate Buy, with an average price target of $135.65.
• Latest quarterly EPS of $2.35 beat the $2.30 estimate, while revenue of $558.2 million fell short of expectations of $563.59 million.

Sun Communities (NYSE:SUI - Get Free Report) had its price target cut by equities research analysts at Robert W. Baird from $138.00 to $131.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently 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 stock's previous close.

Other research analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of Sun Communities from a "hold" rating to a "sell" rating in a report on Saturday, August 1st. Evercore restated an "outperform" rating on shares of Sun Communities in a research report on Wednesday, October 28th. Jefferies Financial Group upgraded Sun Communities to a "strong-buy" rating in a research report on Wednesday, July 22nd. Citigroup restated a "market outperform" rating on shares of Sun Communities in a research note on Tuesday, November 3rd. Finally, UBS Group reaffirmed a "neutral" rating on shares of Sun Communities in a report on Tuesday, October 27th. Two research 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 stock. Based on data from MarketBeat.com, Sun Communities has a consensus rating of "Moderate Buy" and a consensus target price of $135.65.

Sun Communities Price Performance

Shares of NYSE SUI opened at $120.26 on Tuesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 4.68 and a quick ratio of 4.68. The stock has a market capitalization of $14.36 billion, a price-to-earnings ratio of -19.52, a PEG ratio of 6.14 and a beta of 0.75. The firm's 50 day simple moving average is $115.65 and its 200-day simple moving average is $123.26. Sun Communities has a 12 month low of $109.77 and a 12 month high of $137.85.

Sun Communities (NYSE:SUI - Get Free Report) last posted its earnings results 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. Sun Communities had a negative net margin of 36.00% and a positive return on equity of 5.02%. The firm had revenue of $558.20 million during the quarter, compared to analysts' expectations of $563.59 million. During the same period in the previous year, the business posted $2.28 EPS. The business's revenue was up .4% compared to the same quarter last year. Analysts expect that Sun Communities will post 7.03 EPS for the current year.

Institutional Investors Weigh In On Sun Communities

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Sun Communities during the second quarter valued at approximately $1,649,715,000. Canada Pension Plan Investment Board acquired a new stake in shares of Sun Communities in the second quarter worth approximately $156,841,000. Legal & General Group Plc acquired a new stake in shares of Sun Communities in the second quarter worth approximately $122,737,000. Deutsche Bank AG acquired a new stake in shares of Sun Communities in the second quarter worth approximately $108,430,000. Finally, Aberdeen Group plc increased its position in shares of Sun Communities by 529.6% during the third quarter. Aberdeen Group plc now owns 883,587 shares of the real estate investment trust's stock worth $97,884,000 after purchasing an additional 743,250 shares in the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

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.

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