Sun Communities (NYSE:SUI) Price Target Raised to $142.00

Sun Communities (NYSE:SUI) had its price target boosted by Truist Financial from $136.00 to $142.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

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

Sun Communities Price Performance

Sun Communities stock opened at $128.21 on Monday. The stock has a market cap of $16.33 billion, a price-to-earnings ratio of 68.93 and a beta of 0.90. Sun Communities has a 12-month low of $110.98 and a 12-month high of $147.83. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. The business’s 50-day simple moving average is $127.14 and its 200 day simple moving average is $129.63.

Sun Communities (NYSE:SUI) last issued its earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.02. The company had revenue of $745.90 million for the quarter, compared to analyst estimates of $724.68 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. As a group, research analysts anticipate that Sun Communities will post 6.77 earnings per share for the current year.

Hedge Funds Weigh In On Sun Communities

A number of large investors have recently added to or reduced their stakes in SUI. Assetmark Inc. boosted its position in shares of Sun Communities by 2,111.1% during the third quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 190 shares during the period. Brooklyn Investment Group bought a new stake in Sun Communities in the 3rd quarter valued at approximately $41,000. Aster Capital Management DIFC Ltd lifted its stake 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 acquiring an additional 232 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in Sun Communities by 45.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 124 shares during the last quarter. Finally, CKW Financial Group grew its stake in shares of Sun Communities by 45.0% during the 4th quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock worth $53,000 after acquiring an additional 135 shares in the last quarter. Institutional investors own 99.59% of the company’s stock.

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.