Sun Communities Downgraded

Credit: Sun Communities website.

Zacks Investment Research cut shares of Sun Communities Inc. (NYSE:SUI) from a “buy” to “hold” rating in a memo issued to investors on October 5th, according to The Cerbat Gem.

As regular Daily Business News readers already know, Sun owns and operates 338 manufactured home and recreational vehicle communities located in 29 states throughout of the United States and Ontario, Canada. Sun Communities’ portfolio consists of approximately 117,000 developed sites. The firm has one of largest portfolios of Manufactured Home Community owner/operators in the United States.

Image credit, Zacks.

As was previously covered here, a number of other analysts have also commented on Sun Communities, then also including Zacks which moved Sun from a “hold” to a “buy” rating on July 27th, with an $87.00 price target on the stock:

  • TheStreet lowered Sun Communities from a buy rating to a hold rating in a report on August 26th.
  • Citigroup Inc. lifted their price target on Sun Communities from $70.00 to $80.00 and gave the stock a neutral rating in a report on July 7th.
  • BMO Capital Markets upgraded Sun Communities from a market perform rating to an outperform rating and set a $85.00 price target on the stock in a report on September 16th.

Two analysts have rated the stock with a hold rating and three have given a buy rating to the company.

The company has an average rating of “buy” and a consensus price target of $83.00.


The Cerbat Gem reports that Sun Communities last posted its earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.03.

SunCommunitiesDowngradedbyZacksInvestmentResearchto Holdsunmetricscreditbloomberg-postedtoDalyBusinessNews
Credit: Bloomberg.
SunCommunitiesDowngradedbyZacksInvestmentResearchto Holdsunmetricscreditbloomberg-postedtoDalyBusinessNews
Credit: Bloomberg.

manufacturedhomemodelhomeinteriorsuncommunities-manufacturedhousingindustrydailybusinessnewsmhpronewsSun Communities had a return on equity of 8.30% and a net margin of 19.60%. The company had revenue of $140 million for the quarter, compared to analyst estimates of $165.78 million. During the same quarter last year, the company earned $0.87 earnings per share. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, analysts expect that Sun Communities will post $3.76 EPS for the current fiscal year.

More coverage of Sun Communities, including the recent significant investment in the company by Shinko Asset Management Co, can be found here.

Image credits, Shinko corp website.

Sun is one of the industry stocks monitored each business day on the MH Industry’s leading professional news resource, the Daily Business News, on MHProNews.  For the most recent closing numbers on all MH industry-connected tracked stocks, please click here. ##

Editor’s Note – Other Sun Communities – recent reports – as downloadable resources:

(Image credits are as shown above.)

RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.





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