Morgan Stanley Lifts PT on Sun Communities (SUI) Stock

Group 1 - Sun Communities, Inc. (NYSE:SUI) is recognized as one of the best housing stocks to buy according to hedge funds, with Morgan Stanley analyst Adam Kramer raising the price target from $135 to $139 while maintaining an "Equal Weight" rating [1] - The Q2 2025 earnings season for manufactured housing REITs was mixed, prompting the analyst to adjust estimates and targets based on discussions with companies and private operator checks [1] - The company completed the sale of Safe Harbor Marinas in Q2 2025, positioning itself as a pure-play owner and operator of manufactured housing and RV communities, supported by a healthy balance sheet [1] Group 2 - The initial closing of the Safe Harbor Sale generated approximately $5.25 billion in pre-tax cash proceeds, net of transaction costs, along with a book gain on sale of $1.4 billion [2] - Sun Communities plans to utilize the net cash proceeds from the Safe Harbor Sale for debt reduction, shareholder distributions, share repurchases, and reinvestment in its core portfolio [2]