Sun Communities (NYSE:SUI) Upgraded to Buy at Truist Financial

Sun Communities (NYSE:SUIGet Free Report) was upgraded by Truist Financial from a “hold” rating to a “buy” rating in a research report issued on Friday, Marketbeat.com reports.

SUI has been the subject of several other research reports. Royal Bank of Canada cut their target price on Sun Communities from $147.00 to $135.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Evercore ISI upped their price objective on shares of Sun Communities from $149.00 to $150.00 and gave the company an “in-line” rating in a research note on Monday, October 21st. Jefferies Financial Group decreased their target price on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. UBS Group lowered shares of Sun Communities from a “buy” rating to a “neutral” rating and cut their price target for the company from $155.00 to $134.00 in a research report on Thursday, November 14th. Finally, StockNews.com downgraded Sun Communities from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $135.69.

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Sun Communities Price Performance

NYSE:SUI traded up $1.73 during trading hours on Friday, hitting $125.44. The stock had a trading volume of 122,603 shares, compared to its average volume of 857,746. The company has a 50 day simple moving average of $124.37 and a two-hundred day simple moving average of $129.10. The firm has a market capitalization of $15.98 billion, a price-to-earnings ratio of 67.49, a P/E/G ratio of 0.49 and a beta of 0.89. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. Sun Communities has a one year low of $110.98 and a one year high of $147.83.

Sun Communities (NYSE:SUIGet Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.20). Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The business had revenue of $939.90 million for the quarter, compared to the consensus estimate of $980.41 million. During the same period in the prior year, the business posted $2.57 EPS. Sun Communities’s quarterly revenue was down 4.4% on a year-over-year basis. Research analysts forecast that Sun Communities will post 6.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sun Communities

A number of institutional investors have recently bought and sold shares of SUI. Acadian Asset Management LLC bought a new stake in shares of Sun Communities during the second quarter valued at approximately $228,000. Edgestream Partners L.P. boosted its holdings in shares of Sun Communities by 5.6% during the 2nd quarter. Edgestream Partners L.P. now owns 8,108 shares of the real estate investment trust’s stock valued at $976,000 after buying an additional 428 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Sun Communities by 8.3% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 3,646 shares of the real estate investment trust’s stock valued at $439,000 after buying an additional 279 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew 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 buying an additional 115 shares during the period. Finally, Elo Mutual Pension Insurance Co increased its stake in shares of Sun Communities by 8.5% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 12,339 shares of the real estate investment trust’s stock worth $1,485,000 after acquiring an additional 968 shares in the last quarter. 99.59% of the stock is owned by institutional investors.

About Sun Communities

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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.

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Analyst Recommendations for Sun Communities (NYSE:SUI)

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