Truist lowered the firm’s price target on Sun Communities (SUI) to $135 from $142 and keeps a Buy rating on the shares as part of a broader research note on REITs. Favorable weather likely reduced cancellations and boosted bookings, but headwinds regarding “Canadian snowbirds” remain a concern, the analyst tells investors in a research note. Sun’s holiday park segment is undervalued however and a special dividend could lift shares at least above $135, Truist adds.
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