Reported 1 day ago
Morgan Stanley analyst Adam Kramer has increased the price target for Sun Communities, Inc. (NYSE:SUI) from $135 to $139, maintaining an 'Equal Weight' rating. The adjustment follows an analysis of the mixed Q2 2025 earnings for manufactured housing REITs and is influenced by the company's recent sale of Safe Harbor Marinas, which generated approximately $5.25 billion in pre-tax cash proceeds. Sun Communities has plans to utilize these funds for debt reduction, shareholder distributions, buybacks, and reinvestment in its core portfolio.
Source: YAHOO