Sun Communities (NYSE:SUI) Price Target Raised to $142.00 at Truist Financial

Sun Communities (NYSE:SUI) had its target price lifted by Truist Financial from $136.00 to $142.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

Other equities research analysts also recently issued research reports about the company. Jefferies Financial Group dropped their price objective on Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Wells Fargo & Company dropped their price objective on Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Bank of America downgraded Sun Communities from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $147.00 to $114.00 in a report on Tuesday, November 12th. StockNews.com downgraded Sun Communities from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Finally, UBS Group downgraded Sun Communities from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $155.00 to $134.00 in a report on Thursday, November 14th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $135.55.

Sun Communities Trading Down 1.6 %

SUI stock opened at $131.50 on Monday. The company has a market cap of $16.75 billion, a P/E ratio of 70.70 and a beta of 0.90. Sun Communities has a twelve month low of $110.98 and a twelve month high of $147.83. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. The business has a fifty day moving average of $126.90 and a 200-day moving average of $129.66.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Phocas Financial Corp. acquired a new position in shares of Sun Communities during the fourth quarter worth about $238,000. Siemens Fonds Invest GmbH acquired a new position in shares of Sun Communities during the fourth quarter worth about $1,265,000. Mackenzie Financial Corp boosted its position in shares of Sun Communities by 11.6% during the fourth quarter. Mackenzie Financial Corp now owns 7,383 shares of the real estate investment trust’s stock worth $908,000 after buying an additional 765 shares during the period. Toronto Dominion Bank boosted its position in shares of Sun Communities by 6.8% during the fourth quarter. Toronto Dominion Bank now owns 16,743 shares of the real estate investment trust’s stock worth $2,059,000 after buying an additional 1,061 shares during the period. Finally, GF Fund Management CO. LTD. acquired a new position in shares of Sun Communities during the fourth quarter worth about $279,000. 99.59% of the stock is owned by institutional investors and hedge funds.

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.