Sun Communities (NYSE:SUI) Earns "Market Outperform" Rating from JMP Securities

Sun Communities (NYSE:SUI - Get Free Report)'s stock had its "market outperform" rating restated by equities researchers at JMP Securities in a research note issued on Monday,Benzinga reports. They presently have a $140.00 price target on the real estate investment trust's stock, down from their prior price target of $150.00. JMP Securities' target price points to a potential upside of 14.52% from the stock's current price.

SUI has been the subject of several other research reports. Jefferies Financial Group initiated coverage on shares of Sun Communities in a research report on Tuesday, April 8th. They set a "buy" rating and a $150.00 price target for the company. Truist Financial cut their price objective on shares of Sun Communities from $142.00 to $135.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Finally, Royal Bank of Canada reissued an "outperform" rating on shares of Sun Communities in a report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Sun Communities currently has a consensus rating of "Hold" and a consensus price target of $135.70.

Sun Communities Stock Up 0.1 %

NYSE:SUI traded up $0.18 during mid-day trading on Monday, hitting $122.25. 30,266 shares of the company's stock were exchanged, compared to its average volume of 834,459. The business has a fifty day moving average price of $127.35 and a 200 day moving average price of $126.95. Sun Communities has a one year low of $109.22 and a one year high of $147.83. The company has a market cap of $15.60 billion, a PE ratio of 65.70 and a beta of 0.84. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position in shares of Sun Communities during the first quarter worth $29,000. Aster Capital Management DIFC Ltd lifted 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 during the period. Smartleaf Asset Management LLC boosted its stake in shares of Sun Communities by 45.1% in 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 during the last quarter. CKW Financial Group boosted its stake 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 buying an additional 135 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in Sun Communities by 66.4% during the first 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. Hedge funds and other institutional investors own 99.59% of the company's stock.

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.