Sun Communities Inc (SUI) reported quarterly earnings results on Tuesday, Apr-26-2016. The company said it had a profit of $0.90 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.89. The company posted revenue of $174.60 million in the period, compared to analysts expectations of $156.43 million. The company’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 EPS.
Many Wall Street Analysts have commented on Sun Communities Inc. Company shares were Upgraded by Robert W. Baird on Mar 30, 2016 to ” Outperform”, Firm has raised the Price Target to $ 74 from a previous price target of $67 .
Sun Communities Inc opened for trading at $67.55 and hit $68.13 on the upside on Friday, eventually ending the session at $68.13, with a gain of 1.37% or 0.92 points. The heightened volatility saw the trading volume jump to 5,02,177 shares. Company has a market cap of $3,978 M.
In a different news, on Nov 12, 2015, John Bandini Mclaren (Pres & COO) sold 5,000 shares at $62.00 per share price. According to the SEC, on Aug 5, 2015, Clunet R Lewis (director) sold 1,600 shares at $69.59 per share price. On Jun 23, 2015, Randall K Rowe (director) purchased 25,664 shares at $50.00 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.