Truist Financial Issues Positive Forecast for Sun Communities (NYSE:SUI) Stock Price

Sun Communities (NYSE:SUI - Free Report) had its target price lifted by Truist Financial from $136.00 to $142.00 in a research note released on Monday morning,Benzinga reports. They currently have a buy rating on the real estate investment trust's stock.

Several other equities analysts have also commented on SUI. Jefferies Financial Group decreased their price target on Sun Communities from $145.00 to $142.00 and set a "buy" rating on the stock in a research note on Thursday, January 2nd. StockNews.com cut shares of Sun Communities from a "hold" rating to a "sell" rating in a research report on Wednesday, November 20th. Bank of America cut shares of Sun Communities from a "neutral" rating to an "underperform" rating and dropped their price target for the company from $147.00 to $114.00 in a research report on Tuesday, November 12th. Wells Fargo & Company decreased their price objective 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, UBS Group downgraded shares of Sun Communities from a "buy" rating to a "neutral" rating and dropped their target price for the company from $155.00 to $134.00 in a report on Thursday, November 14th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Sun Communities currently has a consensus rating of "Hold" and an average target price of $135.55.

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Sun Communities Trading Down 1.4 %

SUI stock traded down $1.79 during trading on Monday, reaching $129.82. 803,635 shares of the stock were exchanged, compared to its average volume of 789,777. 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 firm has a market capitalization of $16.54 billion, a price-to-earnings ratio of 69.80 and a beta of 0.90. The business has a 50 day moving average price of $126.90 and a 200-day moving average price of $129.66. Sun Communities has a 1 year low of $110.98 and a 1 year high of $147.83.

Sun Communities (NYSE:SUI - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 EPS 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 for the quarter, compared to analyst estimates of $724.68 million. On average, research analysts predict that Sun Communities will post 6.77 earnings per share for the current year.

Hedge Funds Weigh In On Sun Communities

Institutional investors have recently modified their holdings of the business. Assetmark Inc. raised its stake in shares of Sun Communities by 2,111.1% in the third quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust's stock valued at $27,000 after acquiring an additional 190 shares in the last quarter. Aster Capital Management DIFC Ltd raised its position in 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 purchasing an additional 232 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of Sun Communities in the 3rd quarter valued at about $41,000. Smartleaf Asset Management LLC grew its position in shares of 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. Finally, CKW Financial Group grew its position 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 buying an additional 135 shares in the last quarter. Institutional investors and hedge funds 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.