Sun Communities Inc (SUI) is Upgraded by Citigroup to Buy

Sun Communities Inc (SUI) was Upgraded by Citigroup to ” Buy”. Earlier the firm had a rating of “Neutral ” on the company shares. Citigroup advised their investors in a research report released on Sep 12, 2016.

Many Wall Street Analysts have commented on Sun Communities Inc. Sun Communities Inc was Upgraded by Citigroup to ” Buy” on Sep 12, 2016.

On the company’s financial health, Sun Communities Inc reported $0.85 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.83. The company had revenue of $190.80 million for the quarter, compared to analysts expectations of $165.78 million. The company’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.87 EPS.

Sun Communities Inc opened for trading at $77.83 and hit $78.81 on the upside on Wednesday, eventually ending the session at $78.78, with a gain of 1.13% or 0.88 points. The heightened volatility saw the trading volume jump to 341,748 shares. Company has a market cap of $5,408 M.

In a different news, on Aug 5, 2016, Clunet R Lewis (director) sold 1,800 shares at $78.16 per share price. According to the SEC, 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.

Sun Communities Inc

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