Brokerages Set Sun Communities, Inc. (NYSE:SUI) PT at $134.55

Sun Communities, Inc. (NYSE:SUI) has earned an average rating of “Hold” from the twelve ratings firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $134.55.

A number of analysts recently issued reports on SUI shares. Bank of America downgraded Sun Communities from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $147.00 to $114.00 in a research report on Tuesday, November 12th. UBS Group downgraded Sun Communities from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $155.00 to $134.00 in a research report on Thursday, November 14th. Truist Financial raised Sun Communities from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Jefferies Financial Group cut their price objective on Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Finally, Wells Fargo & Company cut their price objective on Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th.

Hedge Funds Weigh In On Sun Communities

Institutional investors and hedge funds have recently made changes to their positions in the stock. Assetmark Inc. grew its position in shares of Sun Communities by 2,111.1% during the third quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 190 shares in the last quarter. Aster Capital Management DIFC Ltd grew its position in shares of Sun Communities by 263.6% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 232 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Sun Communities during the third quarter worth about $41,000. Smartleaf Asset Management LLC grew its position in shares of Sun Communities by 45.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 124 shares in the last quarter. Finally, CKW Financial Group grew its position in shares of Sun Communities by 45.0% during the fourth quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 135 shares in the last quarter. 99.59% of the stock is owned by institutional investors and hedge funds.

Sun Communities Stock Up 1.7 %

NYSE SUI opened at $133.60 on Tuesday. Sun Communities has a 52 week low of $110.98 and a 52 week high of $147.83. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. The business’s fifty day simple moving average is $126.73 and its 200-day simple moving average is $129.69. The firm has a market cap of $17.02 billion, a PE ratio of 71.83 and a beta of 0.90.

Sun Communities (NYSE:SUI) last posted its quarterly earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 EPS for the quarter, topping the consensus estimate of $1.39 by $0.02. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The business had revenue of $745.90 million for the quarter, compared to analyst estimates of $724.68 million. As a group, equities analysts anticipate that Sun Communities will post 6.77 earnings per share for the current year.

Sun Communities Company Profile

Established in 1975, Sun Communities, Inc became a publicly owned corporation in December 1993. The Company is a fully integrated REIT listed on the New York Stock Exchange under the symbol: SUI. As of December 31, 2023, the Company owned, operated, or had an interest in a portfolio of 667 developed MH, RV and Marina properties comprising 179,310 developed sites and approximately 48,030 wet slips and dry storage spaces in the U.S., the UK and Canada.