Jefferies Financial Group Begins Coverage on Sun Communities (NYSE:SUI)

Equities research analysts at Jefferies Financial Group started coverage on shares of Sun Communities (NYSE:SUI) in a research report issued on Tuesday,Benzinga reports. The firm set a “buy” rating and a $150.00 price target on the real estate investment trust’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 25.78% from the stock’s previous close.

A number of other analysts also recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating on shares of Sun Communities in a research report on Friday, February 28th. Wells Fargo & Company dropped their price objective on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. Finally, Truist Financial lifted their target price on shares of Sun Communities from $136.00 to $142.00 and gave the company a “buy” rating in a report on Monday, March 10th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $137.40.

Sun Communities Stock Down 4.1 %

Sun Communities stock opened at $119.25 on Tuesday. The stock’s fifty day moving average is $128.80 and its two-hundred day moving average is $128.24. The firm has a market capitalization of $15.22 billion, a price-to-earnings ratio of 64.12 and a beta of 0.84. Sun Communities has a fifty-two week low of $110.98 and a fifty-two week 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 announced its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.02. The company had revenue of $745.90 million during the quarter, compared to analysts’ expectations of $724.68 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. Analysts predict that Sun Communities will post 6.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Sun Communities

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Legacy Trust acquired a new position in Sun Communities in the fourth quarter worth about $625,000. Aurora Investment Managers LLC. grew its position in shares of Sun Communities by 9.7% in the 4th quarter. Aurora Investment Managers LLC. now owns 27,490 shares of the real estate investment trust’s stock worth $3,380,000 after acquiring an additional 2,435 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Sun Communities by 16.1% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 779,744 shares of the real estate investment trust’s stock valued at $95,885,000 after acquiring an additional 108,054 shares during the last quarter. VCI Wealth Management LLC acquired a new stake in shares of Sun Communities during the 4th quarter valued at approximately $1,312,000. Finally, Vert Asset Management LLC lifted its stake in Sun Communities by 9.9% during the fourth quarter. Vert Asset Management LLC now owns 56,083 shares of the real estate investment trust’s stock worth $6,897,000 after purchasing an additional 5,060 shares during the last quarter. 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.