Robert W. Baird Raises Sun Communities (NYSE:SUI) Price Target to $145.00

Sun Communities (NYSE:SUI) had its target price upped by stock analysts at Robert W. Baird from $144.00 to $145.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the real estate investment trust’s stock. Robert W. Baird’s price objective would indicate a potential upside of 6.39% from the company’s previous close.

A number of other equities research analysts have also issued reports on SUI. Evercore ISI increased their price target on Sun Communities from $143.00 to $144.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th. Royal Bank of Canada upped their price objective on Sun Communities from $131.00 to $137.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. StockNews.com downgraded Sun Communities from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Finally, Truist Financial upped their price target on Sun Communities from $127.00 to $138.00 and gave the stock a “hold” rating in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $137.64.

Sun Communities Price Performance

Shares of NYSE:SUI opened at $136.29 on Tuesday. The firm’s 50 day simple moving average is $127.44 and its two-hundred day simple moving average is $124.32. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.42 and a quick ratio of 1.42. The company has a market capitalization of $16.99 billion, a P/E ratio of 117.49, a P/E/G ratio of 0.99 and a beta of 0.91. Sun Communities has a 1-year low of $102.74 and a 1-year high of $138.88.

Insider Activity at Sun Communities

In other Sun Communities news, CEO Baxter Underwood sold 3,000 shares of Sun Communities stock in a transaction on Monday, August 5th. The shares were sold at an average price of $131.43, for a total value of $394,290.00. Following the completion of the transaction, the chief executive officer now directly owns 63,462 shares of the company’s stock, valued at approximately $8,340,810.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.89% of the stock is owned by insiders.

Institutional Investors Weigh In On Sun Communities

Institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. raised its holdings in Sun Communities by 15.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 762 shares of the real estate investment trust’s stock valued at $92,000 after buying an additional 102 shares during the period. Liberty Mutual Group Asset Management Inc. raised its stake in shares of Sun Communities by 5.3% in the second quarter. Liberty Mutual Group Asset Management Inc. now owns 33,293 shares of the real estate investment trust’s stock valued at $4,006,000 after acquiring an additional 1,665 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of Sun Communities by 118.2% in the 2nd quarter. Mackenzie Financial Corp now owns 7,055 shares of the real estate investment trust’s stock worth $849,000 after acquiring an additional 3,821 shares during the last quarter. MBB Public Markets I LLC purchased a new position in shares of Sun Communities during the 2nd quarter worth about $1,083,000. Finally, Dark Forest Capital Management LP bought a new position in Sun Communities during the 2nd quarter valued at about $1,508,000. 99.59% of the stock is owned by institutional investors.

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.