StockNews.com Lowers Sun Communities (NYSE:SUI) to Sell

Sun Communities (NYSE:SUI) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

Several other equities analysts also recently commented on SUI. Evercore ISI downgraded Sun Communities from an “outperform” rating to an “inline” rating and boosted their price objective for the company from $144.00 to $149.00 in a research report on Monday, September 16th. Truist Financial boosted their price target on Sun Communities from $127.00 to $138.00 and gave the stock a “hold” rating in a report on Tuesday, August 13th. Royal Bank of Canada increased their price objective on shares of Sun Communities from $131.00 to $137.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. UBS Group raised shares of Sun Communities to a “strong-buy” rating in a report on Thursday, October 10th. Finally, Robert W. Baird upped their target price on shares of Sun Communities from $144.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $143.82.

Sun Communities Stock Up 1.1 %

Shares of SUI stock opened at $137.57 on Friday. The company has a market capitalization of $17.15 billion, a price-to-earnings ratio of 118.59, a PEG ratio of 0.95 and a beta of 0.91. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.42 and a quick ratio of 1.42. The company’s fifty day moving average price is $135.20 and its 200-day moving average price is $125.63. Sun Communities has a one year low of $102.74 and a one year high of $147.83.

Insider Transactions at Sun Communities

In related news, CEO Baxter Underwood sold 3,000 shares of Sun Communities stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $131.43, for a total value of $394,290.00. Following the completion of the sale, the chief executive officer now directly owns 63,462 shares in the company, valued at $8,340,810.66. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.89% of the company’s stock.

Institutional Investors Weigh In On Sun Communities

Several large investors have recently modified their holdings of the business. Farmers & Merchants Investments Inc. purchased a new position in Sun Communities during the first quarter valued at approximately $26,000. Quest Partners LLC raised its position in shares of Sun Communities by 12,700.0% in the 2nd quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 381 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of Sun Communities during the 2nd quarter worth $62,000. Fidelis Capital Partners LLC bought a new stake in Sun Communities during the first quarter valued at about $83,000. Finally, Crewe Advisors LLC bought a new stake in Sun Communities during the first quarter valued at about $90,000. Institutional investors own 99.59% of the company’s stock.

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.