Truist Financial Increases Sun Communities (NYSE:SUI) Price Target to $142.00

Sun Communities (NYSE:SUI) had its price objective hoisted by equities research analysts at Truist Financial from $136.00 to $142.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s price target suggests a potential upside of 9.38% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Bank of America lowered shares of Sun Communities from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $147.00 to $114.00 in a research report on Tuesday, November 12th. StockNews.com cut shares of Sun Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Wells Fargo & Company decreased their price objective on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th. UBS Group cut shares of Sun Communities from a “buy” rating to a “neutral” rating and decreased their price target for the company from $155.00 to $134.00 in a research note on Thursday, November 14th. Finally, Jefferies Financial Group cut their price objective on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Sun Communities has an average rating of “Hold” and a consensus price target of $135.55.

Sun Communities Trading Down 1.4 %

Sun Communities stock opened at $129.82 on Monday. The company’s fifty day simple moving average is $127.04 and its 200-day simple moving average is $129.64. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. Sun Communities has a 12 month low of $110.98 and a 12 month high of $147.83. The stock has a market cap of $16.54 billion, a P/E ratio of 69.80 and a beta of 0.90.

Sun Communities (NYSE:SUI) last issued its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. The firm had revenue of $745.90 million during the quarter, compared to analysts’ expectations of $724.68 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. As a group, sell-side analysts forecast that Sun Communities will post 6.77 EPS for the current fiscal year.

Institutional Trading of Sun Communities

A number of hedge funds have recently modified their holdings of the stock. Cohen & Steers Inc. lifted its stake in shares of Sun Communities by 30.3% during the 4th quarter. Cohen & Steers Inc. now owns 16,373,446 shares of the real estate investment trust’s stock worth $2,013,414,000 after buying an additional 3,811,528 shares during the last quarter. Dodge & Cox raised its position in shares of Sun Communities by 61.1% in the 4th quarter. Dodge & Cox now owns 9,606,018 shares of the real estate investment trust’s stock valued at $1,181,252,000 after buying an additional 3,644,853 shares in the last quarter. FMR LLC raised its position in shares of Sun Communities by 51.3% in the 4th quarter. FMR LLC now owns 7,917,870 shares of the real estate investment trust’s stock valued at $973,660,000 after buying an additional 2,684,214 shares in the last quarter. Norges Bank bought a new stake in shares of Sun Communities during the 4th quarter valued at approximately $888,783,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Sun Communities by 19.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,549,540 shares of the real estate investment trust’s stock valued at $682,429,000 after purchasing an additional 911,857 shares during the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

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.