Sun Communities, Inc. (NYSE:SUI) Given Average Rating of “Hold” by Analysts

Sun Communities, Inc. (NYSE:SUI) has been assigned a consensus recommendation of “Hold” from the twelve ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $134.55.

Several equities research analysts have weighed in on SUI shares. StockNews.com cut Sun Communities from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Baird R W lowered shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Truist Financial raised shares of Sun Communities from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Bank of America cut shares of Sun Communities from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $147.00 to $114.00 in a research report on Tuesday, November 12th. Finally, Royal Bank of Canada dropped their price objective on shares of Sun Communities from $147.00 to $135.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th.

Sun Communities Stock Up 0.2 %

Shares of SUI opened at $136.44 on Tuesday. The firm has a fifty day moving average price of $126.07 and a 200-day moving average price of $129.64. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $17.38 billion, a P/E ratio of 73.35 and a beta of 0.90. Sun Communities has a 12-month low of $110.98 and a 12-month high of $147.83.

Sun Communities (NYSE:SUI) last issued its earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The business had revenue of $745.90 million for the quarter, compared to the consensus estimate of $724.68 million. Equities research analysts expect that Sun Communities will post 6.77 earnings per share for the current year.

Hedge Funds Weigh In On Sun Communities

A number of large investors have recently made changes to their positions in SUI. Assetmark Inc. grew its stake in Sun Communities by 2,111.1% during the 3rd quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 190 shares during the last quarter. Aster Capital Management DIFC Ltd boosted its holdings in Sun Communities by 263.6% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 232 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Sun Communities in the third quarter worth about $41,000. Smartleaf Asset Management LLC grew its stake in shares of Sun Communities by 45.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 124 shares during the last quarter. Finally, CKW Financial Group increased its holdings in shares of Sun Communities by 45.0% during the fourth quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 135 shares in the last quarter. 99.59% of the stock is owned by institutional investors and hedge funds.

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.