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 research report issued to clients and investors on Tuesday.

Other equities research analysts have also recently issued reports about the company. UBS Group raised Sun Communities to a “strong-buy” rating in a research note on Thursday, October 10th. Jefferies Financial Group started coverage on shares of Sun Communities in a report on Thursday, October 17th. They set a “buy” rating and a $160.00 price target on the stock. 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 Sun Communities from an “outperform” rating to a “neutral” rating and cut their target price for the company from $145.00 to $126.00 in a research note on Thursday, November 7th. Finally, Wells Fargo & Company boosted their price target on Sun Communities from $123.00 to $154.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $139.50.

Sun Communities Price Performance

SUI opened at $125.89 on Tuesday. The stock has a 50-day moving average price of $134.93 and a 200-day moving average price of $126.99. The stock has a market capitalization of $16.04 billion, a P/E ratio of 66.59, a PEG ratio of 0.95 and a beta of 0.91. Sun Communities has a 12-month low of $110.98 and a 12-month high of $147.83. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93.

Sun Communities (NYSE:SUI) last announced its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). The business had revenue of $939.90 million during the quarter, compared to analysts’ expectations of $980.41 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. Sun Communities’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period last year, the company posted $2.57 EPS. Equities analysts predict that Sun Communities will post 6.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sun Communities

A number of hedge funds have recently modified their holdings of the business. FMR LLC lifted its position in Sun Communities by 37.6% during the third quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust’s stock valued at $707,329,000 after purchasing an additional 1,430,630 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Sun Communities by 50.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,302,804 shares of the real estate investment trust’s stock worth $424,677,000 after buying an additional 1,105,306 shares during the period. PGGM Investments lifted its position in shares of Sun Communities by 159.9% during the 2nd quarter. PGGM Investments now owns 1,246,739 shares of the real estate investment trust’s stock valued at $150,033,000 after buying an additional 767,126 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Sun Communities by 24.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 2,195,884 shares of the real estate investment trust’s stock valued at $264,253,000 after acquiring an additional 424,842 shares during the period. Finally, Westfield Capital Management Co. LP increased its holdings in Sun Communities by 58.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 959,879 shares of the real estate investment trust’s stock worth $129,728,000 after acquiring an additional 355,427 shares in the last quarter. 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.