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

Sun Communities (NYSE:SUI) had its price target upped by Truist Financial from $136.00 to $142.00 in a report released on Monday morning,Benzinga reports. The firm currently has a buy rating on the real estate investment trust’s stock.

Several other analysts have also issued reports on SUI. Jefferies Financial Group dropped their price target on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Bank of America downgraded shares of Sun Communities from a “neutral” rating to an “underperform” rating and cut their target price for the company from $147.00 to $114.00 in a research note on Tuesday, November 12th. UBS Group downgraded Sun Communities from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $155.00 to $134.00 in a research report on Thursday, November 14th. StockNews.com lowered Sun Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Finally, Wells Fargo & Company reduced their target price on Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $135.55.

Sun Communities Price Performance

NYSE:SUI opened at $128.21 on Monday. Sun Communities has a 52-week low of $110.98 and a 52-week high of $147.83. The company has a market cap of $16.33 billion, a P/E ratio of 68.93 and a beta of 0.90. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. The stock’s 50-day simple moving average is $127.14 and its 200 day simple moving average is $129.63.

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

Hedge Funds Weigh In On Sun Communities

A number of hedge funds have recently bought and sold shares of the business. Assetmark Inc. grew its position in shares of 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 purchasing an additional 190 shares in the last quarter. Aster Capital Management DIFC Ltd raised its position in shares of Sun Communities by 263.6% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 232 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Sun Communities in the third quarter valued at approximately $41,000. Smartleaf Asset Management LLC grew its position in 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 increased its stake in 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 during the period. 99.59% of the stock is owned by institutional investors.

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.