Morgan Stanley Lifts PT on Sun Communities (SUI) Stock

Sun Communities, Inc. (NYSE:SUI) is one of the Best Housing Stocks to Buy According to Hedge Funds. On September 4, Morgan Stanley analyst Adam Kramer lifted the price target on the company’s stock to $139 from $135, while keeping an “Equal Weight” rating, as reported by The Fly. As per the analyst, it was a mixed Q2 2025 earnings season for manufactured housing REITs. The analyst tweaked estimates and adjusted targets following the conversations with each company as well as private operator checks. Sun Communities, Inc. (NYSE:SUI) believes that Q2 2025 was one of the important quarters as it completed the sale of Safe Harbor Marinas and repositioned the company as a pure-play owner and operator of manufactured housing and RV communities with a healthy balance sheet.

The initial closing of the Safe Harbor Sale resulted in ~$5.25 billion of pre-tax cash proceeds, net of transaction costs, with a book gain on sale of $1.4 billion. Sun Communities, Inc. (NYSE:SUI) started its plan to deploy net cash proceeds from the Safe Harbor Sale towards a combination of debt reduction, shareholder distributions, share repurchases, and reinvestment in Sun Communities, Inc. (NYSE:SUI)’s core portfolio.

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Disclosure: None. This article is originally published at Insider Monkey.