Barclays initiated coverage of Sun Communities (SUI) with an Overweight rating and $141 price target Stable rent growth and secular growth tailwinds position manufactured homes as a defensive sector, which historically merited a valuation premium relative to real estate investment trusts, the analyst tells investors in a research note. The firm sees several potential positive catalysts in the upcoming months for Sun Communities, including at least $1B of acquisitions it expects to be announced by Q2 earnings, potential share repurchases, a new CEO announcement, and re-focused operations.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SUI:
- Sun Communities Holds Annual Shareholders Meeting
- Sun Communities price target raised to $132 from $124 at BofA
- Sun Communities Faces Challenges in RV Segment and UK Market Despite Strong Q1 Earnings
- Sun Communities price target lowered to $126 from $128 at Baird
- Sun Communities price target lowered to $147 from $154 at RBC Capital