Sun Communities, Inc. (NYSE:SUI) Receives Average Rating of "Hold" from Analysts

Shares of Sun Communities, Inc. (NYSE:SUI - Get Free Report) have been given a consensus recommendation of "Hold" by the twelve ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $134.55.

A number of brokerages recently commented on SUI. Jefferies Financial Group reduced their price objective on Sun Communities from $145.00 to $142.00 and set a "buy" rating on the stock in a research report on Thursday, January 2nd. Truist Financial upgraded shares of Sun Communities from a "hold" rating to a "buy" rating in a research note on Friday, January 17th. Robert W. Baird lowered Sun Communities from an "outperform" rating to a "neutral" rating and lowered their price objective for the company from $145.00 to $126.00 in a report on Thursday, November 7th. Wells Fargo & Company reduced their price target on shares of Sun Communities from $154.00 to $135.00 and set an "equal weight" rating on the stock in a report on Wednesday, December 11th. Finally, Royal Bank of Canada lowered their price target on Sun Communities from $147.00 to $135.00 and set an "outperform" rating for the company in a research report on Thursday, November 7th.

Institutional Investors Weigh In On Sun Communities

A number of institutional investors and hedge funds have recently bought and sold shares of SUI. Assetmark Inc. boosted its stake in shares of Sun Communities by 2,111.1% during the 3rd quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust's stock worth $27,000 after acquiring an additional 190 shares in the last quarter. Brooklyn Investment Group purchased a new position in Sun Communities in the third quarter valued at $41,000. Aster Capital Management DIFC Ltd boosted its holdings in shares of Sun Communities by 263.6% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust's stock valued at $39,000 after buying an additional 232 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Sun Communities by 45.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust's stock valued at $49,000 after acquiring an additional 124 shares during the period. Finally, CKW Financial Group raised its stake in shares of Sun Communities by 45.0% during 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 last quarter. 99.59% of the stock is owned by institutional investors.

Remove Ads

Sun Communities Trading Up 2.2 %

Shares of NYSE SUI traded up $2.93 during trading hours on Tuesday, hitting $134.29. 356,619 shares of the company traded hands, compared to its average volume of 836,628. Sun Communities has a 12 month low of $110.98 and a 12 month high of $147.83. The company's 50 day moving average price is $126.53 and its 200 day moving average price is $129.69. The stock has a market capitalization of $17.11 billion, a price-to-earnings ratio of 72.15 and a beta of 0.90. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93.

Sun Communities (NYSE:SUI - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.02. The company had revenue of $745.90 million during the quarter, compared to the consensus estimate of $724.68 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. On average, equities research analysts anticipate that Sun Communities will post 6.77 earnings per share for the current fiscal year.

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.