The stock of Sun Communities Inc (NYSE:SUI) gapped down by $0.3 today and has $71.04 target or 8.00% below today’s $77.22 share price. The 6 months technical chart setup indicates high risk for the $5.42 billion company. The gap down was reported on Oct, 4 by Barchart.com. If the $71.04 price target is reached, the company will be worth $433.60 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 1.61% or $1.26 on October 3, hitting $77.22. Sun Communities Inc (NYSE:SUI) has risen 11.54% since March 1, 2016 and is uptrending. It has underperformed by 0.67% the S&P500.
Analysts await Sun Communities Inc (NYSE:SUI) to report earnings on October, 25. They expect $1.07 EPS, up 1.90% or $0.02 from last year’s $1.05 per share. SUI’s profit will be $75.10 million for 18.04 P/E if the $1.07 EPS becomes a reality. After $0.85 actual EPS reported by Sun Communities Inc for the previous quarter, Wall Street now forecasts 25.88% EPS growth.
Sun Communities Inc (NYSE:SUI) Ratings Coverage
Out of 2 analysts covering Sun Communities (NYSE:SUI), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Sun Communities has been the topic of 3 analyst reports since August 12, 2015 according to StockzIntelligence Inc. The firm earned “Sell” rating on Wednesday, August 12 by Zacks. The firm has “Outperform” rating by Robert W. Baird given on Wednesday, March 30. Citigroup upgraded the stock to “Buy” rating in Monday, September 12 report.
According to Zacks Investment Research, “Sun Communities, Inc. owns, operates & finances manufactured housing communities concentrated in the midwestern & southeastern US. The Company is a fully integrated real estate company which, together with its affiliates and predecessors, has been in the business of acquiring, operating & expanding manufactured housing communities since 1975. The Company owns & manages a portfolio of properties located in twelve states, including manufactured housing communities, recreational vehicle communities, & properties containing both manufactured housing & recreational vehicle sites.”
Insitutional Activity: The institutional sentiment decreased to 1.41 in Q2 2016. Its down 0.52, from 1.93 in 2016Q1. The ratio fall, as 28 funds sold all Sun Communities Inc shares owned while 66 reduced positions. 45 funds bought stakes while 88 increased positions. They now own 63.98 million shares or 3.47% more from 61.84 million shares in 2016Q1.
State Of New Jersey Common Pension Fund D has 0.06% invested in the company for 170,000 shares. Crawford Counsel accumulated 4,175 shares or 0.01% of the stock. Blackrock Lc has 34,904 shares for 0% of their US portfolio. Diam has invested 0.16% of its portfolio in Sun Communities Inc (NYSE:SUI). Moreover, Aperio Gru Ltd Liability Company has 0% invested in Sun Communities Inc (NYSE:SUI) for 6,154 shares. Amica Retiree Tru holds 0.05% of its portfolio in Sun Communities Inc (NYSE:SUI) for 750 shares. Duff Phelps Inv Mgmt holds 0.23% or 203,750 shares in its portfolio. Centerbridge Prtnrs Ltd Partnership has invested 12.23% of its portfolio in Sun Communities Inc (NYSE:SUI). Moreover, Maple Capital Management has 0.84% invested in Sun Communities Inc (NYSE:SUI) for 29,801 shares. D E Shaw holds 0% or 4,516 shares in its portfolio. Netols Asset Mgmt, a Wisconsin-based fund reported 136,797 shares. Barnett And Co Inc holds 1.4% of its portfolio in Sun Communities Inc (NYSE:SUI) for 32,990 shares. Invesco holds 436,896 shares or 0.01% of its portfolio. Dimensional Fund Advsr Limited Partnership owns 726,437 shares or 0.03% of their US portfolio. Federated Pa holds 137,009 shares or 0.03% of its portfolio.
Insider Transactions: Since June 8, 2016, the stock had 0 insider buys, and 3 selling transactions for $2.19 million net activity. Shares for $418,045 were sold by LAPIDES PAUL D. $140,688 worth of Sun Communities Inc (NYSE:SUI) was sold by LEWIS CLUNET R. The insider SHIFFMAN GARY A sold $1.63 million.
More recent Sun Communities Inc (NYSE:SUI) news were published by: Wsj.com which released: “Sun Communities Reaches $1.68 Billion Deal for Fellow REIT Carefree” on March 22, 2016. Also Finance.Yahoo.com published the news titled: “Sun Communities, Inc. Announces Pricing of Public Offering of Common Stock” on September 09, 2016. Nasdaq.com‘s news article titled: “Sun Communities, Inc. (SUI) Ex-Dividend Date Scheduled for September 28, 2016 …” with publication date: September 27, 2016 was also an interesting one.
SUI Company Profile
Sun Communities, Inc., incorporated on July 23, 1993, is a self-administered and self-managed real estate investment trust (REIT). The Firm operates through two divisions: Real Property Operations, and Home Sales and Rentals. The Firm has regional property management offices located in Austin, Texas; San Antonio, Texas; Dayton, Ohio; Grand Rapids, Michigan; Elkhart, Indiana; Indianapolis, Indiana; Traverse City, Michigan; Charlotte, North Carolina; Denver, Colorado; Ft. Myers, Florida, and Orlando, Florida. The Firm owns, operates and develops manufactured housing (MH) and recreational vehicle (RV) communities throughout the United States. The Firm has a portfolio of approximately 230 properties located in over 30 states throughout the United States, including 180 MH communities, approximately 40 RV communities and over 10 properties containing both MH and RV sites. The properties contain an aggregate of approximately 88,610 developed sites consisting of over 69,680 developed MH sites, approximately 9,560 annual RV sites (inclusive of both annual and seasonal usage rights), over 9,370 transient RV sites, and approximately 7,180 additional MH and RV sites suitable for development. Approximately 110 properties have over 300 developed sites, with approximately 1,110 developed manufactured home sites.
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