Sun Communities, Inc., the self-administered and
self-managed real estate investment trust with a market cap of $7.45 billion, is
a fully integrated real estate company, which, together with its affiliates and
predecessors, has been in the business of acquiring, operating, developing, and
expanding manufactured housing (MH) and recreational vehicle (RV) communities.
As of December 31, 2016, the Real Estate Investment Trust (REIT) owned and
operated or had an interest in a portfolio of properties located throughout the
United States and Ontario, Canada, including 226 MH communities, 87 RV
communities, and 28 properties containing both MH and RV sites.
Two days ago, on November 26, Sun Communities’ stock reached
a new 52-week high! The 26th had the company’s share price at $93.89,
still with a $96.71 target (or 3.0% growth). Should the $96.71 price target be
reached, the company will be worth another $223.50 million on top of the
current $7.45 billion. This is the time that positive momentum is shown and
when buyers usually come in, making the 52-week high event a remarkable
benchmark for every stock; however, fundamental investors are known to usually
stay away and are careful shorting or selling stocks.
This morning (Nov 28) had the stock price starting at $93.51,
then dropping as low as $92.34, and climbing back up to about $93.00 and again
dropping to $92.68 where it’s currently at and projecting to rise again.
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