Sun Communities (NYSE:SUI) Earns Buy Rating from Analysts at Jefferies Financial Group

Equities research analysts at Jefferies Financial Group began coverage on shares of Sun Communities (NYSE:SUI - Get Free Report) in a research note issued to investors on Thursday, MarketBeat Ratings reports. The firm set a "buy" rating and a $160.00 price target on the real estate investment trust's stock. Jefferies Financial Group's target price suggests a potential upside of 16.30% from the stock's previous close.

Other equities research analysts have also recently issued reports about the stock. Evercore ISI cut shares of Sun Communities from an "outperform" rating to an "inline" rating and lifted their price objective for the company from $144.00 to $149.00 in a research note on Monday, September 16th. StockNews.com upgraded shares of Sun Communities from a "sell" rating to a "hold" rating in a research report on Thursday, October 10th. Truist Financial upped their price target on shares of Sun Communities from $127.00 to $138.00 and gave the stock a "hold" rating in a research note on Tuesday, August 13th. UBS Group upgraded shares of Sun Communities to a "strong-buy" rating in a research note on Thursday, October 10th. Finally, Wells Fargo & Company upped their target price 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. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Sun Communities has an average rating of "Moderate Buy" and a consensus target price of $143.82.

Sun Communities Stock Performance

NYSE:SUI traded up $1.51 during mid-day trading on Thursday, hitting $137.58. The stock had a trading volume of 1,292,272 shares, compared to its average volume of 800,406. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.09. The company has a 50 day simple moving average of $135.04 and a 200-day simple moving average of $125.54. The stock has a market capitalization of $17.15 billion, a price-to-earnings ratio of 118.61, a P/E/G ratio of 0.95 and a beta of 0.91. Sun Communities has a 52 week low of $102.74 and a 52 week high of $147.83.

Insider Activity

In other Sun Communities news, CEO Baxter Underwood sold 3,000 shares of the business's stock in a transaction on Monday, August 5th. The shares were sold at an average price of $131.43, for a total transaction of $394,290.00. Following the sale, the chief executive officer now directly owns 63,462 shares of the company's stock, valued at $8,340,810.66. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.89% of the stock is owned by company insiders.

Institutional Trading of Sun Communities

Institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its position in Sun Communities by 50.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,302,804 shares of the real estate investment trust's stock worth $424,677,000 after buying an additional 1,105,306 shares in the last quarter. PGGM Investments boosted its position in Sun Communities by 159.9% during the second quarter. PGGM Investments now owns 1,246,739 shares of the real estate investment trust's stock valued at $150,033,000 after purchasing an additional 767,126 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in Sun Communities by 24.0% in the second quarter. Daiwa Securities Group Inc. now owns 2,195,884 shares of the real estate investment trust's stock valued at $264,253,000 after purchasing an additional 424,842 shares in the last quarter. Hsbc Holdings PLC increased its position in Sun Communities by 199.1% in the 2nd quarter. Hsbc Holdings PLC now owns 358,284 shares of the real estate investment trust's stock worth $42,754,000 after purchasing an additional 238,498 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in shares of Sun Communities by 499.9% during the 1st quarter. National Bank of Canada FI now owns 157,977 shares of the real estate investment trust's stock worth $18,562,000 after purchasing an additional 131,641 shares in the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Sun Communities Company Profile

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.