Sun Communities (NYSE:SUI – Get Free Report) was downgraded by investment analysts at Royal Bank Of Canada from a “moderate buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.
Other equities research analysts have also recently issued research reports about the company. Wells Fargo & Company decreased their target price on Sun Communities from $142.00 to $141.00 and set an “overweight” rating for the company in a research note on Monday. Mizuho dropped their price target on Sun Communities from $143.00 to $137.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 30th. Jefferies Financial Group upgraded Sun Communities to a “strong-buy” rating in a report on Wednesday, July 22nd. Colliers Securities upgraded Sun Communities from a “neutral” rating to a “buy” rating and set a $150.00 price target on the stock in a report on Friday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft set a $133.00 price objective on shares of Sun Communities in a research report on Thursday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $139.92.
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Sun Communities Stock Performance
Insider Activity at Sun Communities
In other news, Director Gary A. Shiffman sold 25,031 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $119.96, for a total transaction of $3,002,718.76. Following the completion of the sale, the director owned 857,761 shares in the company, valued at $102,897,009.56. The trade was a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Fernando Castro-Caratini sold 23,750 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $124.43, for a total value of $2,955,212.50. Following the transaction, the executive vice president directly owned 9,998 shares in the company, valued at $1,244,051.14. The trade was a 70.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.58% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC grew its holdings in shares of Sun Communities by 17.8% during the first quarter. AQR Capital Management LLC now owns 12,076 shares of the real estate investment trust’s stock valued at $1,554,000 after buying an additional 1,827 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Sun Communities by 21.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 195,339 shares of the real estate investment trust’s stock valued at $25,128,000 after acquiring an additional 33,981 shares in the last quarter. Empowered Funds LLC lifted its position in Sun Communities by 32.5% in the 1st quarter. Empowered Funds LLC now owns 3,376 shares of the real estate investment trust’s stock valued at $434,000 after acquiring an additional 829 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Sun Communities during the 1st quarter valued at about $362,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Sun Communities by 26.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 673 shares of the real estate investment trust’s stock valued at $85,000 after purchasing an additional 141 shares during the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.
About Sun Communities
Sun Communities, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company’s portfolio spans more than 500 manufactured housing communities and over 160 RV resorts, offering affordable, long-term housing as well as short-stay recreational lodging. Through professional on-site management and amenity-rich community designs, Sun Communities serves a diverse customer base that includes retirees, workforce families and vacationers.
Founded in 1975 and headquartered in Southfield, Michigan, Sun Communities has grown organically and through strategic acquisitions to become one of the largest operators in its sector.
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