Sun Communities, Inc. (NYSE:SUI) Given Average Recommendation of “Hold” by Analysts

Sun Communities, Inc. (NYSE:SUI) has received an average recommendation of “Hold” from the twelve brokerages that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $135.55.

Several analysts have recently issued reports on SUI shares. Truist Financial increased their target price on Sun Communities from $136.00 to $142.00 and gave the stock a “buy” rating in a report on Monday. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Sun Communities in a report on Friday, February 28th. Jefferies Financial Group decreased their price objective on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. UBS Group lowered Sun Communities from a “buy” rating to a “neutral” rating and decreased their price target for the company from $155.00 to $134.00 in a research note on Thursday, November 14th. Finally, StockNews.com cut Sun Communities from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th.

Institutional Trading of Sun Communities

Several institutional investors have recently modified their holdings of SUI. Assetmark Inc. lifted its holdings in Sun Communities by 2,111.1% during the 3rd 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. Aster Capital Management DIFC Ltd raised its holdings in Sun Communities by 263.6% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 232 shares during the last quarter. Brooklyn Investment Group bought a new stake in Sun Communities during the third quarter valued at $41,000. Smartleaf Asset Management LLC boosted its position in shares of 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 valued at $49,000 after purchasing 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 4th 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 period. Institutional investors own 99.59% of the company’s stock.

Sun Communities Trading Down 1.6 %

Shares of Sun Communities stock opened at $131.50 on Tuesday. Sun Communities has a 52-week low of $110.98 and a 52-week high of $147.83. The stock has a market cap of $16.75 billion, a PE ratio of 70.70 and a beta of 0.90. The firm has a 50-day moving average of $126.90 and a 200-day moving average of $129.66. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61.

Sun Communities (NYSE:SUI) last announced its earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 EPS for the quarter, topping the consensus estimate of $1.39 by $0.02. The company had revenue of $745.90 million for the quarter, compared to analysts’ expectations of $724.68 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. As a group, sell-side analysts forecast that Sun Communities will post 6.77 EPS for the current year.

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.