Sun Communities (NYSE:SUI) Rating Lowered to Sell at StockNews.com

Sun Communities (NYSE:SUI) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

A number of other equities research analysts have also recently weighed in on SUI. Wells Fargo & Company lifted their price target on shares of Sun Communities from $123.00 to $154.00 and gave the company an “equal weight” rating in a research report on Thursday, September 19th. Royal Bank of Canada boosted their target price on Sun Communities from $131.00 to $137.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Robert W. Baird upped their price target on Sun Communities from $144.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 3rd. Jefferies Financial Group started coverage on Sun Communities in a research note on Thursday. They issued a “buy” rating and a $160.00 price objective for the company. Finally, UBS Group raised Sun Communities to a “strong-buy” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $143.82.

Sun Communities Stock Performance

NYSE SUI opened at $136.19 on Friday. The stock has a fifty day simple moving average of $135.31 and a 200-day simple moving average of $125.72. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.09. The stock has a market cap of $16.97 billion, a PE ratio of 117.41, a P/E/G ratio of 0.95 and a beta of 0.91. Sun Communities has a twelve month low of $102.74 and a twelve month high of $147.83.

Insider Buying and Selling at Sun Communities

In other 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 transaction of $394,290.00. Following the completion of the sale, the chief executive officer now directly owns 63,462 shares of the company’s stock, valued at approximately $8,340,810.66. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.89% of the company’s stock.

Hedge Funds Weigh In On Sun Communities

Several hedge funds have recently added to or reduced their stakes in the stock. Centersquare Investment Management LLC boosted its holdings in shares of Sun Communities by 4.7% in the 1st quarter. Centersquare Investment Management LLC now owns 2,171,868 shares of the real estate investment trust’s stock valued at $279,259,000 after buying an additional 96,529 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Sun Communities by 8.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 143,209 shares of the real estate investment trust’s stock worth $18,414,000 after purchasing an additional 11,195 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of Sun Communities during the second quarter worth about $13,164,000. SG Americas Securities LLC lifted its holdings in shares of Sun Communities by 145.0% in the 1st quarter. SG Americas Securities LLC now owns 20,576 shares of the real estate investment trust’s stock valued at $2,646,000 after purchasing an additional 12,177 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Sun Communities in the 1st quarter valued at about $1,106,000. 99.59% of the stock is currently owned by hedge funds and other 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.