Sun Communities, Inc. (NYSE:SUI) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Sun Communities, Inc. (NYSE:SUI) have been given a consensus recommendation of “Hold” by the twelve analysts that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $134.55.

A number of equities analysts have issued reports on the company. Jefferies Financial Group cut their price target on Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. StockNews.com cut shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. 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 note on Thursday, November 7th. BMO Capital Markets dropped their price target on Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Finally, Bank of America cut Sun Communities from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $147.00 to $114.00 in a research note on Tuesday, November 12th.

Institutional Trading of Sun Communities

Large investors have recently added to or reduced their stakes in the company. Cohen & Steers Inc. boosted its stake in Sun Communities by 30.3% during the fourth quarter. Cohen & Steers Inc. now owns 16,373,446 shares of the real estate investment trust’s stock worth $2,013,414,000 after buying an additional 3,811,528 shares during the period. Dodge & Cox boosted its stake in shares of Sun Communities by 61.1% during the 4th quarter. Dodge & Cox now owns 9,606,018 shares of the real estate investment trust’s stock worth $1,181,252,000 after purchasing an additional 3,644,853 shares during the period. FMR LLC grew its holdings in Sun Communities by 51.3% during the 4th quarter. FMR LLC now owns 7,917,870 shares of the real estate investment trust’s stock valued at $973,660,000 after purchasing an additional 2,684,214 shares during the last quarter. Norges Bank purchased a new stake in Sun Communities in the 4th quarter worth about $888,783,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in Sun Communities by 19.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,549,540 shares of the real estate investment trust’s stock worth $682,429,000 after purchasing an additional 911,857 shares during the last quarter. Institutional investors own 99.59% of the company’s stock.

Sun Communities Stock Performance

NYSE SUI opened at $136.44 on Tuesday. Sun Communities has a 1 year low of $110.98 and a 1 year high of $147.83. 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. The firm’s fifty day moving average price is $126.07 and its two-hundred day moving average price is $129.64.

Sun Communities (NYSE:SUI) last posted its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $745.90 million during the quarter, compared to the consensus estimate of $724.68 million. As a group, research analysts anticipate that Sun Communities will post 6.77 EPS for the current year.

About Sun Communities

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.