Citigroup Upgrades Sun Communities Inc to Buy with Price Target $86.00

Brokerage firm Citigroup Upgrades its rating on Sun Communities Inc(NYSE:SUI). In a research note issued to the investors, the brokerage major Raises the price-target to $86.00 per share. The shares have been rated Buy. Previously, the analysts had a Neutral rating on the shares. The rating by Citigroup was issued on Sep 12, 2016.

In a different note, On Jul 7, 2016, Citigroup said it Maintains its rating on Sun Communities Inc. In the research note, the firm Raises the price-target to $70.00 per share. The shares have been rated ‘Neutral’ by the firm.

Sun Communities Inc (SUI) shares turned negative on Tuesdays trading session with the shares closing down -0.52 points or -0.66% at a volume of 7,22,234. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $78.91. The peak price level was also seen at $78.91 while the days lowest was $77.73. Finally the shares closed at $77.86. The 52-week high of the shares is $85.98 while the 52-week low is $61.65. According to the latest information available, the market cap of the company is $5,345 M.

Sun Communities Inc has also declared a cash dividend of $0.6500 on Sep 6, 2016. The shares will quote ex-dividend on Sep 28, 2016 and the record date has been fixed on Sep 30, 2016. The dividend payable date has been fixed on Oct 17, 2016.

Sun Communities Inc(SUI) last announced its earnings results on Aug 2, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $140.00M. Analysts had an estimated revenue of $129.54M. Earnings per share were $0.85. Analysts had estimated an EPS of $0.82.

Several Insider Transactions has been reported to the SEC. On Aug 5, 2016, Clunet R Lewis (director) sold 1,800 shares at $78.16 per share price.Also, On Jul 1, 2016, Gary A Shiffman (Chrmn and CEO) sold 18,371 shares at $76.48 per share price.On Jun 13, 2016, Paul D Lapides (director) sold 6,127 shares at $68.23 per share price, according to the Form-4 filing with the securities and exchange commission.

Sun Communities Inc. (SHS) is a self-administered and self-managed real estate investment trust (REIT). The Company operates in two segments: Real Property Operations and Home Sales and Rentals. The Real Property Operations segment owns operates and develops manufactured housing (MH) and recreational vehicle (RV) throughout the United States and is in the business of acquiring operating and expanding MH and RV communities. The Home Sales and Rentals segment offers manufactured home sales and leasing services to tenants and prospective tenants of its communities. The Company owns and operates a portfolio of around 217 properties located in 29 states throughout the United States including 183 MH communities 25 RV communities and nine properties containing both MH and RV sites.

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