Sun Communities (NYSE:SUI) Research Coverage Started at Jefferies Financial Group

Jefferies Financial Group initiated coverage on shares of Sun Communities (NYSE:SUI) in a research note issued on Thursday, Briefing.com reports. The firm set a “buy” rating and a $160.00 price target on the real estate investment trust’s stock. Jefferies Financial Group’s price target would indicate a potential upside of 17.59% from the stock’s current price.

A number of other research analysts also recently weighed in on SUI. StockNews.com raised Sun Communities from a “sell” rating to a “hold” rating in a research note on Thursday, October 10th. Evercore ISI downgraded Sun Communities from an “outperform” rating to an “inline” rating and raised their price objective for the company from $144.00 to $149.00 in a research note on Monday, September 16th. UBS Group raised Sun Communities to a “strong-buy” rating in a research report on Thursday, October 10th. Royal Bank of Canada lifted their price target on Sun Communities from $131.00 to $137.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Robert W. Baird lifted their price target on Sun Communities from $144.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 3rd. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Sun Communities has a consensus rating of “Moderate Buy” and an average price target of $143.82.

Sun Communities Stock Up 1.8 %

Shares of Sun Communities stock opened at $136.07 on Thursday. The firm has a market cap of $16.96 billion, a price-to-earnings ratio of 158.22, a P/E/G ratio of 0.95 and a beta of 0.91. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.42 and a quick ratio of 1.42. Sun Communities has a 52-week low of $102.74 and a 52-week high of $147.83. The stock has a 50-day simple moving average of $135.04 and a 200-day simple moving average of $125.54.

Insider Activity at Sun Communities

In related news, CEO Baxter Underwood sold 3,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $131.43, for a total value of $394,290.00. Following the sale, the chief executive officer now owns 63,462 shares of the company’s stock, valued at $8,340,810.66. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.89% of the stock is owned by insiders.

Institutional Investors Weigh In On Sun Communities

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Naviter Wealth LLC raised its position in shares of Sun Communities by 2.5% during the third quarter. Naviter Wealth LLC now owns 8,936 shares of the real estate investment trust’s stock worth $1,216,000 after acquiring an additional 221 shares during the last quarter. Swedbank AB increased its holdings in Sun Communities by 52.8% in the third quarter. Swedbank AB now owns 162,368 shares of the real estate investment trust’s stock valued at $21,944,000 after purchasing an additional 56,132 shares during the last quarter. Creative Planning increased its holdings in Sun Communities by 56.8% in the third quarter. Creative Planning now owns 9,491 shares of the real estate investment trust’s stock valued at $1,283,000 after purchasing an additional 3,439 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in Sun Communities by 438.3% in the third quarter. Exchange Traded Concepts LLC now owns 1,292 shares of the real estate investment trust’s stock valued at $175,000 after purchasing an additional 1,052 shares during the last quarter. Finally, Inspire Investing LLC increased its holdings in Sun Communities by 9.0% in the third quarter. Inspire Investing LLC now owns 14,624 shares of the real estate investment trust’s stock valued at $1,976,000 after purchasing an additional 1,208 shares during the last quarter. 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.