Sun Communities (NYSE:SUI) Now Covered by Jefferies Financial Group

Investment analysts at Jefferies Financial Group initiated coverage on shares of Sun Communities (NYSE:SUI - Get Free Report) in a research note issued on Tuesday, MarketBeat.com reports. The firm set a "buy" rating and a $150.00 price target on the real estate investment trust's stock. Jefferies Financial Group's price objective indicates a potential upside of 24.62% from the stock's current price.

Several other research analysts have also issued reports on the stock. Truist Financial increased their price target on shares of Sun Communities from $136.00 to $142.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Royal Bank of Canada reiterated an "outperform" rating on shares of Sun Communities in a research report on Friday, February 28th. Finally, Wells Fargo & Company decreased their price objective on Sun Communities from $154.00 to $135.00 and set an "equal weight" rating on the stock in a research report on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $136.70.

Sun Communities Stock Up 1.2 %

Sun Communities stock traded up $1.48 during mid-day trading on Tuesday, hitting $120.36. 588,183 shares of the company's stock were exchanged, compared to its average volume of 836,304. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. The stock has a market cap of $15.36 billion, a P/E ratio of 64.71 and a beta of 0.84. The stock has a 50 day moving average of $127.89 and a two-hundred day moving average of $127.53. Sun Communities has a 1-year low of $109.22 and a 1-year high of $147.83.

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Sun Communities (NYSE:SUI - Get Free Report) last released its earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $724.68 million. As a group, analysts anticipate that Sun Communities will post 6.77 EPS for the current fiscal year.

Institutional Trading of Sun Communities

Institutional investors have recently made changes to their positions in the business. Aster Capital Management DIFC Ltd lifted its stake in Sun Communities by 263.6% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust's stock valued at $39,000 after acquiring an additional 232 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Sun Communities by 45.1% during the fourth 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 in the last quarter. CKW Financial Group increased its position in shares of Sun Communities by 45.0% in the fourth quarter. CKW Financial Group now owns 435 shares of the real estate investment trust's stock worth $53,000 after purchasing an additional 135 shares during the period. Parallel Advisors LLC lifted its holdings in shares of Sun Communities by 66.4% during the 1st quarter. Parallel Advisors LLC now owns 476 shares of the real estate investment trust's stock worth $61,000 after acquiring an additional 190 shares during the period. Finally, Natixis acquired a new stake in Sun Communities in the fourth quarter valued at about $90,000. Institutional investors 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.