Shares of manufactured housing, RV-resorts REIT Sun Communities SUI.N were up 3.3% at $124.10 as the company is set to join the S&P MidCap 400 index next week.
Shares are on course for their biggest daily percentage gain in over a year, and are now flat in 2026.
SUI is set to replace Webster Financial WBS.N in the index prior to the market open on Thursday, Aug. 20, S&P Dow Jones Indices announced.
Regional bank Webster is being acquired by Spain's Banco Santander SAN.MC in a 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 million SUI shares, implying nearly 11 days of buying demand.
Michigan-based SUI has about 121.8 million shares outstanding for a roughly $15 billion market cap.
The REIT last month reported Q2 core FFO per share of $1.84, above LSEG consensus of $1.76, and forecast annual FFO of $6.94 to $7.10.
Of 18 analysts covering SUI, the recommendation breakdown is 13 "strong buy" or "buy", 4 "hold" and 1 "sell"; median PT is $139, LSEG data shows.
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