Sun Communities, Inc. (NYSE:SUI) Receives $134.55 Consensus Target Price from Brokerages

Sun Communities, Inc. (NYSE:SUI) has received a consensus recommendation of “Hold” from the twelve brokerages that are currently covering the stock, MarketBeat Ratings reports. One 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.

SUI has been the subject of several research reports. Wells Fargo & Company decreased their target price 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. Bank of America downgraded Sun Communities from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $147.00 to $114.00 in a research note on Tuesday, November 12th. Jefferies Financial Group cut their price target on Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Truist Financial upgraded Sun Communities from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Finally, StockNews.com downgraded Sun Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th.

Sun Communities Stock Down 1.7 %

Shares of NYSE:SUI opened at $131.62 on Tuesday. Sun Communities has a 52-week low of $110.98 and a 52-week high of $147.83. The firm has a market capitalization of $16.77 billion, a P/E ratio of 70.76 and a beta of 0.90. The stock has a 50 day moving average price of $126.53 and a 200-day moving average price of $129.69. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61.

Sun Communities (NYSE:SUI) last announced its earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share (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 firm had revenue of $745.90 million during the quarter, compared to analyst estimates of $724.68 million. As a group, equities research analysts anticipate that Sun Communities will post 6.77 EPS for the current fiscal year.

Institutional Trading of Sun Communities

Institutional investors have recently added to or reduced their stakes in the business. Assetmark Inc. boosted its stake in Sun Communities by 2,111.1% during the 3rd quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 190 shares during the last quarter. Aster Capital Management DIFC Ltd boosted its stake in shares of Sun Communities by 263.6% in the 4th 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 during the last quarter. Brooklyn Investment Group purchased a new position in shares of Sun Communities in the 3rd quarter worth $41,000. Smartleaf Asset Management LLC boosted its stake in shares of Sun Communities by 45.1% in the 4th 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 during the last quarter. Finally, CKW Financial Group boosted its stake in shares of Sun Communities by 45.0% in the 4th 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 during the last quarter. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

About Sun Communities

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.