Sun Communities (NYSE:SUI) Given New $135.00 Price Target at Wells Fargo & Company

Sun Communities (NYSE:SUI) had its target price dropped by analysts at Wells Fargo & Company from $154.00 to $135.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 10.88% from the company’s current price.

A number of other research firms have also recently weighed in on SUI. BMO Capital Markets lowered their target price on shares of Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Bank of America cut shares of Sun Communities from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $147.00 to $114.00 in a research note on Tuesday, November 12th. StockNews.com cut shares of Sun Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Baird R W cut shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, UBS Group cut shares of Sun Communities from a “buy” rating to a “neutral” rating and lowered their target price for the company from $155.00 to $134.00 in a research note on Thursday, November 14th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $137.08.

Sun Communities Stock Performance

Shares of Sun Communities stock traded down $1.09 on Wednesday, hitting $121.75. 100,975 shares of the company’s stock were exchanged, compared to its average volume of 825,056. The company has a 50-day simple moving average of $129.59 and a 200-day simple moving average of $128.12. The stock has a market capitalization of $15.51 billion, a PE ratio of 65.66, a PEG ratio of 0.52 and a beta of 0.88. Sun Communities has a 1 year low of $110.98 and a 1 year high of $147.83. 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 issued its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.20). The business had revenue of $939.90 million for the quarter, compared to analysts’ expectations of $980.41 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The company’s revenue was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.57 EPS. As a group, equities analysts anticipate that Sun Communities will post 6.78 EPS for the current year.

Institutional Trading of Sun Communities

A number of large investors have recently made changes to their positions in the business. Bristlecone Advisors LLC increased its holdings in shares of Sun Communities by 2.4% in the 2nd quarter. Bristlecone Advisors LLC now owns 3,655 shares of the real estate investment trust’s stock worth $440,000 after buying an additional 85 shares during the last quarter. Toronto Dominion Bank increased its holdings in shares of Sun Communities by 0.8% in the 2nd quarter. Toronto Dominion Bank now owns 11,916 shares of the real estate investment trust’s stock worth $1,434,000 after buying an additional 98 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of 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 buying an additional 102 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings 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 buying an additional 115 shares during the last quarter. Finally, Avior Wealth Management LLC increased its holdings 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 buying an additional 125 shares during the last quarter. 99.59% of the stock is currently 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.