Sun Communities (NYSE:SUI) Price Target Cut to $142.00 by Analysts at Jefferies Financial Group

Sun Communities (NYSE:SUI) had its target price trimmed by Jefferies Financial Group from $145.00 to $142.00 in a research report report published on Thursday morning,Benzinga reports. The firm currently has a buy rating on the real estate investment trust’s stock.

Other equities research analysts also recently issued research reports about the company. Robert W. Baird downgraded Sun Communities from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $145.00 to $126.00 in a research report on Thursday, November 7th. Wells Fargo & Company decreased their price target on Sun Communities from $154.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th. Royal Bank of Canada dropped their target price on Sun Communities from $147.00 to $135.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Baird R W lowered Sun Communities from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, 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 research report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $135.69.

Sun Communities Trading Down 0.5 %

SUI stock opened at $122.40 on Thursday. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. Sun Communities has a 52-week low of $110.98 and a 52-week high of $147.83. The company’s 50-day simple moving average is $126.13 and its 200-day simple moving average is $128.75. The firm has a market cap of $15.59 billion, a P/E ratio of 65.81, a PEG ratio of 0.51 and a beta of 0.88.

Sun Communities (NYSE:SUI) last posted its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $2.31 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 firm had revenue of $939.90 million during the quarter, compared to analyst estimates of $980.41 million. During the same period in the prior year, the company posted $2.57 earnings per share. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, equities analysts forecast that Sun Communities will post 6.78 EPS for the current fiscal year.

Sun Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.94 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.76 annualized dividend and a yield of 3.07%. Sun Communities’s dividend payout ratio (DPR) is 202.15%.

Institutional Trading of Sun Communities

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. raised its position in Sun Communities by 6.9% during the 3rd quarter. Victory Capital Management Inc. now owns 77,203 shares of the real estate investment trust’s stock worth $10,434,000 after buying an additional 5,008 shares during the last quarter. FMR LLC lifted its stake in shares of Sun Communities by 37.6% in the third quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust’s stock valued at $707,329,000 after purchasing an additional 1,430,630 shares during the period. KBC Group NV boosted its holdings in Sun Communities by 303.3% during the third quarter. KBC Group NV now owns 109,939 shares of the real estate investment trust’s stock worth $14,858,000 after buying an additional 82,682 shares in the last quarter. AMG National Trust Bank acquired a new position in Sun Communities during the third quarter worth about $1,690,000. Finally, Swedbank AB increased its stake in Sun Communities by 52.8% in the 3rd quarter. Swedbank AB now owns 162,368 shares of the real estate investment trust’s stock valued at $21,944,000 after purchasing an additional 56,132 shares in the last quarter. 99.59% of the stock is 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.