StockNews.com Upgrades Sun Communities (NYSE:SUI) to “Hold”

Sun Communities (NYSE:SUI) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

SUI has been the subject of a number of other research reports. JMP Securities restated a “market outperform” rating and set a $150.00 target price on shares of Sun Communities in a research note on Thursday, May 2nd. Evercore ISI decreased their target price on Sun Communities from $145.00 to $128.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Finally, Royal Bank of Canada dropped their price target on Sun Communities from $142.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $134.40.

Sun Communities Stock Performance

Sun Communities stock traded up $6.47 during mid-day trading on Thursday, hitting $133.20. 1,089,979 shares of the company’s stock traded hands, compared to its average volume of 743,556. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.78 and a quick ratio of 1.78. The firm has a 50 day simple moving average of $120.04 and a two-hundred day simple moving average of $123.48. Sun Communities has a fifty-two week low of $102.74 and a fifty-two week high of $137.45. The stock has a market cap of $16.60 billion, a price-to-earnings ratio of 114.83, a P/E/G ratio of 0.93 and a beta of 0.88.

Hedge Funds Weigh In On Sun Communities

Several hedge funds have recently bought and sold shares of the company. Bristlecone Advisors LLC boosted its holdings in shares of Sun Communities by 2.4% in the 2nd quarter. Bristlecone Advisors LLC now owns 3,655 shares of the real estate investment trust’s stock valued at $440,000 after purchasing an additional 85 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in shares of Sun Communities by 0.3% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 29,808 shares of the real estate investment trust’s stock valued at $3,833,000 after acquiring an additional 100 shares in the last quarter. Yousif Capital Management LLC increased its holdings in Sun Communities by 1.7% in the 4th quarter. Yousif Capital Management LLC now owns 6,236 shares of the real estate investment trust’s stock worth $833,000 after purchasing an additional 105 shares in the last quarter. US Bancorp DE raised its position in Sun Communities by 0.5% in the fourth quarter. US Bancorp DE now owns 20,541 shares of the real estate investment trust’s stock valued at $2,745,000 after purchasing an additional 107 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. boosted its stake in shares of Sun Communities by 5.9% during the first quarter. ZWJ Investment Counsel Inc. now owns 2,017 shares of the real estate investment trust’s stock valued at $259,000 after purchasing an additional 112 shares in the last quarter. 99.59% of the stock is owned by institutional investors.

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.