BMO Capital Believes Sun Communities (NYSE: SUI) Still Has Room to Grow

By Austin Angelo

In a report released yesterday, John Kim from BMO Capital reiterated a Buy rating on Sun Communities (NYSE: SUI), with a price target of $96. The company’s shares closed yesterday at $88.78, close to its 52-week high of $91.87.

According to TipRanks.com, Kim is a 4-star analyst with an average return of 4.1% and a 55.3% success rate. Kim covers the Financial sector, focusing on stocks such as Apartment Investment & Management, Forest City Realty Trust, Inc., and Retail Opportunity Investments.

Currently, the analyst consensus on Sun Communities is Moderate Buy and the average price target is $95.50, representing a 7.6% upside.

In a report issued on October 16, Robert W. Baird also reiterated a Buy rating on the stock with a $95 price target.

Based on Sun Communities’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $238 million and quarterly net profit of $14.45 million. In comparison, last year the company earned revenue of $250 million and had a net profit of $22.22 million.

Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock.

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Sun Communities, Inc. provides real estate management services. The company operates through the following segments: Real Property Operations and Home Sales & Rentals.