Sun Communities (NYSE:SUI) Stock Rating Lowered by StockNews.com

Sun Communities (NYSE:SUI - Get Free Report) was downgraded by investment analysts at StockNews.com from a "hold" rating to a "sell" rating in a report released on Friday.

Other equities analysts have also recently issued research reports about the company. Truist Financial increased their target price on Sun Communities from $127.00 to $138.00 and gave the stock a "hold" rating in a report on Tuesday, August 13th. Robert W. Baird upped their price objective on Sun Communities from $144.00 to $145.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 3rd. Evercore ISI lowered Sun Communities from an "outperform" rating to an "inline" rating and lifted their target price for the company from $144.00 to $149.00 in a research report on Monday, September 16th. Wells Fargo & Company upped their price target on Sun Communities from $123.00 to $154.00 and gave the stock an "equal weight" rating in a research report on Thursday, September 19th. Finally, UBS Group raised shares of Sun Communities to a "strong-buy" rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $143.82.

Sun Communities Stock Down 1.0 %

SUI traded down $1.39 during trading on Friday, reaching $136.19. The company had a trading volume of 923,252 shares, compared to its average volume of 801,014. The business's fifty day moving average price is $135.20 and its 200 day moving average price is $125.63. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.42 and a quick ratio of 1.42. Sun Communities has a 12 month low of $102.74 and a 12 month high of $147.83. The company has a market cap of $16.97 billion, a P/E ratio of 118.59, a PEG ratio of 0.95 and a beta of 0.91.

Insiders Place Their Bets

In other news, CEO Baxter Underwood sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $131.43, for a total value 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 $8,340,810.66. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.89% of the company's stock.

Hedge Funds Weigh In On Sun Communities

Large investors have recently modified their holdings of the stock. Blue Trust Inc. grew its stake in Sun Communities by 230.7% in the 3rd quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust's stock valued at $84,000 after buying an additional 436 shares during the last quarter. Generate Investment Management Ltd bought a new stake in shares of Sun Communities during the third quarter worth approximately $9,037,000. Vert Asset Management LLC grew its position in shares of Sun Communities by 0.7% in the third quarter. Vert Asset Management LLC now owns 51,023 shares of the real estate investment trust's stock valued at $6,896,000 after purchasing an additional 372 shares during the last quarter. Aurora Investment Managers LLC. increased its stake in shares of Sun Communities by 26.0% during the third quarter. Aurora Investment Managers LLC. now owns 25,055 shares of the real estate investment trust's stock worth $3,386,000 after purchasing an additional 5,175 shares during the period. Finally, Naviter Wealth LLC lifted its holdings in Sun Communities by 2.5% during the 3rd quarter. Naviter Wealth LLC now owns 8,936 shares of the real estate investment trust's stock worth $1,216,000 after purchasing an additional 221 shares during the last quarter. 99.59% of the stock is owned by 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.