BMO Capital Markets Cuts Sun Communities (NYSE:SUI) Price Target to $138.00

Sun Communities (NYSE:SUI - Get Free Report) had its target price decreased by investment analysts at BMO Capital Markets from $145.00 to $138.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the real estate investment trust's stock. BMO Capital Markets' price objective points to a potential upside of 12.33% from the company's current price.

Other equities research analysts have also recently issued reports about the company. Wells Fargo & Company raised their target price on Sun Communities from $123.00 to $154.00 and gave the company an "equal weight" rating in a research note on Thursday, September 19th. StockNews.com lowered shares of Sun Communities from a "hold" rating to a "sell" rating in a research note on Friday, October 18th. Robert W. Baird lowered shares of Sun Communities from an "outperform" rating to a "neutral" rating and dropped their price target for the company from $145.00 to $126.00 in a research note on Thursday. Truist Financial lifted their price target on Sun Communities from $127.00 to $138.00 and gave the company a "hold" rating in a report on Tuesday, August 13th. Finally, Evercore ISI increased their price objective on Sun Communities from $149.00 to $150.00 and gave the stock an "in-line" rating in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Sun Communities currently has a consensus rating of "Hold" and an average target price of $141.82.

Sun Communities Stock Performance

Shares of Sun Communities stock traded down $8.91 on Thursday, reaching $122.85. 3,296,305 shares of the company were exchanged, compared to its average volume of 817,802. The firm has a market cap of $15.32 billion, a price-to-earnings ratio of 141.28, a P/E/G ratio of 0.95 and a beta of 0.91. Sun Communities has a 1-year low of $110.98 and a 1-year high of $147.83. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.42 and a current ratio of 1.42. The company's 50-day moving average is $135.71 and its two-hundred day moving average is $126.78.

Institutional Trading of Sun Communities

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norden Group LLC lifted its stake in shares of Sun Communities by 67.5% in the first quarter. Norden Group LLC now owns 3,392 shares of the real estate investment trust's stock valued at $435,000 after buying an additional 1,367 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of Sun Communities by 6.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 14,435 shares of the real estate investment trust's stock worth $1,856,000 after acquiring an additional 838 shares during the period. Nordea Investment Management AB grew its holdings in shares of Sun Communities by 3.5% during the 1st quarter. Nordea Investment Management AB now owns 7,862 shares of the real estate investment trust's stock worth $1,007,000 after purchasing an additional 268 shares in the last quarter. Mutual of America Capital Management LLC increased its position in shares of Sun Communities by 5.2% during the first quarter. Mutual of America Capital Management LLC now owns 11,213 shares of the real estate investment trust's stock valued at $1,442,000 after purchasing an additional 555 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Sun Communities by 90.1% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,582 shares of the real estate investment trust's stock valued at $589,000 after purchasing an additional 2,172 shares in 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.

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