Sun Communities (NYSE:SUI) Now Covered by Jefferies Financial Group

Stock analysts at Jefferies Financial Group initiated coverage on shares of Sun Communities (NYSE:SUI) in a report released on Thursday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $160.00 price target on the real estate investment trust’s stock. Jefferies Financial Group’s price target points to a potential upside of 17.48% from the stock’s previous close.

SUI has been the subject of several other research reports. Robert W. Baird raised their price objective on Sun Communities from $144.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, September 3rd. StockNews.com raised Sun Communities from a “sell” rating to a “hold” rating in a research report on Thursday, October 10th. Royal Bank of Canada increased their price objective on Sun Communities from $131.00 to $137.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. UBS Group raised shares of Sun Communities to a “strong-buy” rating in a research report on Thursday, October 10th. Finally, Evercore ISI cut shares of Sun Communities from an “outperform” rating to an “inline” rating and increased their price target for the company from $144.00 to $149.00 in a research note on Monday, September 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.82.

Sun Communities Stock Performance

Shares of SUI stock opened at $136.19 on Thursday. Sun Communities has a 12 month low of $102.74 and a 12 month high of $147.83. The company’s fifty day simple moving average is $135.31 and its 200-day simple moving average is $125.70. The firm has a market cap of $16.97 billion, a PE ratio of 117.41, a P/E/G ratio of 0.95 and a beta of 0.91. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.09.

Insider Activity at Sun Communities

In other news, CEO Baxter Underwood sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $131.43, for a total transaction of $394,290.00. Following the completion of the sale, the chief executive officer now owns 63,462 shares in the company, valued at $8,340,810.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.89% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sun Communities

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its position in Sun Communities by 13.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 258,491 shares of the real estate investment trust’s stock worth $34,547,000 after acquiring an additional 30,698 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Sun Communities by 30.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,836 shares of the real estate investment trust’s stock worth $379,000 after purchasing an additional 661 shares in the last quarter. HighPoint Advisor Group LLC acquired a new stake in shares of Sun Communities in the fourth quarter valued at approximately $208,000. Mather Group LLC. bought a new stake in shares of Sun Communities in the first quarter valued at approximately $155,000. Finally, Aurora Investment Managers LLC. grew its position in Sun Communities by 82.8% during the first quarter. Aurora Investment Managers LLC. now owns 15,136 shares of the real estate investment trust’s stock worth $1,946,000 after buying an additional 6,856 shares in the last quarter. Institutional investors and hedge funds 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.