Sun Communities (NYSE:SUI) Given New $142.00 Price Target at Jefferies Financial Group

Sun Communities (NYSE:SUI) had its target price lowered by equities research analysts at Jefferies Financial Group from $145.00 to $142.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Jefferies Financial Group’s price objective points to a potential upside of 15.43% from the company’s current price.

A number of other equities analysts have also recently issued reports on the company. Robert W. Baird cut Sun Communities from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $145.00 to $126.00 in a report on Thursday, November 7th. StockNews.com lowered Sun Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Wells Fargo & Company reduced their price target on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. Truist Financial lowered their price objective on shares of Sun Communities from $138.00 to $131.00 and set a “hold” rating for the company in a report on Wednesday, December 11th. Finally, BMO Capital Markets reduced their target price on shares of Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $135.69.

Sun Communities Price Performance

Shares of SUI stock traded up $0.05 during trading on Thursday, hitting $123.02. The company had a trading volume of 131,205 shares, compared to its average volume of 832,894. The stock’s 50-day moving average is $126.44 and its two-hundred day moving average is $128.79. The stock has a market capitalization of $15.67 billion, a price-to-earnings ratio of 66.14, a price-to-earnings-growth ratio of 0.51 and a beta of 0.88. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. Sun Communities has a 52 week low of $110.98 and a 52 week high of $147.83.

Sun Communities (NYSE:SUI) last issued its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The company had revenue of $939.90 million during the quarter, compared to the consensus estimate of $980.41 million. During the same period in the previous year, the company earned $2.57 EPS. Sun Communities’s quarterly revenue was down 4.4% on a year-over-year basis. As a group, analysts predict that Sun Communities will post 6.78 EPS for the current fiscal year.

Institutional Investors Weigh In On Sun Communities

Institutional investors and hedge funds have recently bought and sold shares of the business. Toronto Dominion Bank raised its holdings in shares of Sun Communities by 0.8% during the second quarter. Toronto Dominion Bank now owns 11,916 shares of the real estate investment trust’s stock valued at $1,434,000 after acquiring an additional 98 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Sun Communities by 15.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 762 shares of the real estate investment trust’s stock worth $92,000 after purchasing an additional 102 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of Sun Communities by 1.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 7,034 shares of the real estate investment trust’s stock worth $846,000 after purchasing an additional 115 shares during the period. Avior Wealth Management LLC lifted its position in shares of Sun Communities by 3.0% in the 3rd quarter. Avior Wealth Management LLC now owns 4,328 shares of the real estate investment trust’s stock worth $585,000 after purchasing an additional 125 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in shares of Sun Communities by 4.4% during the 2nd quarter. CIBC Asset Management Inc now owns 4,173 shares of the real estate investment trust’s stock valued at $502,000 after purchasing an additional 175 shares in the last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.

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.