Sun Communities rises on S&P MidCap addition

Banco Santander

14/08/2026 15:29

** Shares of manufactured housing, RV-resorts REIT Sun Communities SUI.N up 3.3% at $124.10 as co set to join S&P MidCap 400 index .IDX next week

    ** Shares on course for biggest daily pct gain in over a year, and now flat in 2026
  

    ** SUI to replace Webster Financial WBS.N in IDX prior to market open on Thurs, Aug 20, S&P Dow Jones Indices announced

    ** Regional bank Webster being acquired by Spain's Banco Santander SAN.MC in deal expected to close on Aug 20
  

    ** Stephens analyst Melissa Roberts wrote in a note that she expects passive funds will have to buy 14 mln SUI shares, implying nearly 11 days of buying demand
  

    ** Michigan-based SUI has ~121.8 mln shares outstanding for roughly $15 bln market cap
  

    ** The REIT last month reported Q2 core FFO/sh of $1.84, above LSEG consensus of $1.76, and forecast annual FFO of $6.94-$7.10
  
** Of 18 analysts covering SUI, recommendation breakdown is  13 "strong buy" or "buy", 4 "hold" and 1 "sell"; median PT $139, LSEG data reflects

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))