Sun Communities (NYSE:SUI) Stock Rating Lowered by UBS Group

Sun Communities (NYSE:SUI) was downgraded by research analysts at UBS Group from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday, Marketbeat.com reports. They presently have a $134.00 price target on the real estate investment trust’s stock, down from their previous price target of $155.00. UBS Group’s target price would suggest a potential upside of 7.06% from the company’s current price.

Several other equities analysts have also issued reports on the company. Bank of America lowered Sun Communities from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $147.00 to $114.00 in a research note on Tuesday. Jefferies Financial Group assumed coverage on shares of Sun Communities in a research report on Thursday, October 17th. They set a “buy” rating and a $160.00 target price on the stock. Evercore ISI raised their price target on shares of Sun Communities from $149.00 to $150.00 and gave the stock an “in-line” rating in a report on Monday, October 21st. BMO Capital Markets dropped their price objective on shares of Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Finally, Wells Fargo & Company raised their target price on Sun Communities from $123.00 to $154.00 and gave the company an “equal weight” rating in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $139.08.

Sun Communities Stock Up 0.9 %

Shares of NYSE SUI opened at $125.16 on Thursday. Sun Communities has a 52-week low of $110.98 and a 52-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. The company’s 50 day moving average price is $134.46 and its 200-day moving average price is $126.96. The company has a market capitalization of $15.94 billion, a P/E ratio of 66.41, a price-to-earnings-growth ratio of 0.53 and a beta of 0.91.

Sun Communities (NYSE:SUI) last issued its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The firm had revenue of $939.90 million for the quarter, compared to the consensus estimate of $980.41 million. During the same period last year, the company posted $2.57 EPS. The business’s revenue was down 4.4% compared to the same quarter last year. Equities analysts forecast that Sun Communities will post 6.75 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vestcor Inc boosted its stake in Sun Communities by 36.9% in the third quarter. Vestcor Inc now owns 2,915 shares of the real estate investment trust’s stock valued at $394,000 after acquiring an additional 785 shares during the last quarter. Y Intercept Hong Kong Ltd increased its holdings in shares of Sun Communities by 84.4% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 12,806 shares of the real estate investment trust’s stock worth $1,731,000 after buying an additional 5,861 shares during the last quarter. Zimmer Partners LP bought a new position in shares of Sun Communities in the 3rd quarter worth $5,068,000. Quadrature Capital Ltd bought a new position in shares of Sun Communities in the 3rd quarter worth $2,386,000. Finally, Quantinno Capital Management LP increased its holdings in shares of Sun Communities by 22.0% in the 3rd quarter. Quantinno Capital Management LP now owns 7,695 shares of the real estate investment trust’s stock worth $1,040,000 after buying an additional 1,390 shares during the last quarter. 99.59% of the stock is currently owned by hedge funds and other 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.