Sun Communities Inc. (NYSE:SUI) traded today at a new 52-week high of $185.81. This new high was reached on below average trading volume as 207,000 shares traded hands, while the average 30-day volume is approximately 487,000 shares.
Sun Communities Inc. (NYSE:SUI) defies analysts with a current price ($185.63) 23.8% above its average consensus price target of $141.37.
Sun Communities Inc is a real estate investment trust that acquires, operates, and develops manufactured housing and recreational vehicle communities throughout the United States. The vast majority of the company’s real estate portfolio is comprised of manufactured housing communities in terms of the total number of properties. Sun Communities divides its assets geographically into Midwestern, Southern, Southeastern, and Other segments. The markets of Michigan and Florida, cumulatively, account for most of the firm’s holdings. The company derives nearly all of its income in the form of rental revenue from leasing its properties to tenants through annual leases. Many of Sun Communities’ sites offer amenities, such as clubhouses, swimming pools, spas, and exercise rooms.
In the past 52 weeks, Sun Communities Inc. share prices are bracketed by a low of $134.17 and a high of $185.81 and is now at $185.63, 38% above that low price.
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