Sun Communities (NYSE:SUI) Upgraded at StockNews.com

Sun Communities (NYSE:SUI) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Tuesday.

SUI has been the subject of a number of other reports. BMO Capital Markets cut their price target on Sun Communities from $145.00 to $138.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Baird R W lowered shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Robert W. Baird downgraded shares of Sun Communities from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $145.00 to $126.00 in a report on Thursday, November 7th. Evercore ISI upped their price objective on shares of Sun Communities from $149.00 to $150.00 and gave the company an “in-line” rating in a research note on Monday, October 21st. Finally, Truist Financial lifted their target price on shares of Sun Communities from $127.00 to $138.00 and gave the stock a “hold” rating in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $139.50.

Sun Communities Price Performance

Shares of NYSE:SUI traded down $2.94 during midday trading on Tuesday, hitting $124.18. 1,245,130 shares of the stock were exchanged, compared to its average volume of 831,265. Sun Communities has a twelve month low of $110.98 and a twelve month high of $147.83. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.09. The company has a 50 day moving average price of $135.16 and a 200-day moving average price of $126.95. The stock has a market cap of $15.48 billion, a P/E ratio of 66.76, a PEG ratio of 0.96 and a beta of 0.91.

Sun Communities (NYSE:SUI) last announced its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.20). Sun Communities had a net margin of 7.46% and a return on equity of 3.26%. The business had revenue of $939.90 million during the quarter, compared to analysts’ expectations of $980.41 million. During the same period last year, the company earned $2.57 EPS. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. On average, research analysts forecast that Sun Communities will post 6.76 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SUI. Assetmark Inc. increased its position in shares of Sun Communities by 2,111.1% in the third quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 190 shares in the last quarter. Quest Partners LLC raised its position in Sun Communities by 12,700.0% in the second quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 381 shares during the period. 1620 Investment Advisors Inc. purchased a new position in Sun Communities in the second quarter valued at about $62,000. Farther Finance Advisors LLC lifted its stake in shares of Sun Communities by 89.1% during the third quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock worth $68,000 after purchasing an additional 236 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Sun Communities by 230.7% in the third quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock worth $84,000 after buying an additional 436 shares during the period. Hedge funds and other 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.