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

Sun Communities (NYSE:SUI) was downgraded by UBS Group from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday,Briefing.com Automated Import reports. They presently have a $134.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $155.00. UBS Group’s target price points to a potential upside of 6.44% from the stock’s previous close.

SUI has been the subject of several other reports. StockNews.com upgraded shares of Sun Communities from a “sell” rating to a “hold” rating in a research report on Tuesday. Baird R W downgraded shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Royal Bank of Canada decreased their price target on shares of Sun Communities from $147.00 to $135.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. BMO Capital Markets decreased their price target on shares of Sun Communities from $145.00 to $138.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Finally, Bank of America downgraded shares of Sun Communities from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $147.00 to $114.00 in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $139.08.

Sun Communities Price Performance

Shares of NYSE SUI opened at $125.89 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. The company has a market capitalization of $16.04 billion, a PE ratio of 67.68, a PEG ratio of 0.95 and a beta of 0.91. The stock’s 50 day moving average price is $134.93 and its 200-day moving average price is $126.99. Sun Communities has a twelve month low of $110.98 and a twelve month high of $147.83.

Sun Communities (NYSE:SUI) last issued its earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). The business had revenue of $939.90 million for the quarter, compared to the consensus estimate of $980.41 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The company’s revenue was down 4.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.57 EPS. On average, equities analysts anticipate that Sun Communities will post 6.76 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC boosted its stake in shares of Sun Communities by 37.6% during the 3rd quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust’s stock worth $707,329,000 after acquiring an additional 1,430,630 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Sun Communities by 50.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,302,804 shares of the real estate investment trust’s stock worth $424,677,000 after acquiring an additional 1,105,306 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Sun Communities by 3.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,949,862 shares of the real estate investment trust’s stock worth $354,986,000 after acquiring an additional 111,569 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Sun Communities by 24.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 2,195,884 shares of the real estate investment trust’s stock worth $264,253,000 after acquiring an additional 424,842 shares during the last quarter. Finally, Centersquare Investment Management LLC boosted its stake in shares of Sun Communities by 4.7% during the 1st quarter. Centersquare Investment Management LLC now owns 2,171,868 shares of the real estate investment trust’s stock worth $279,259,000 after acquiring an additional 96,529 shares during the last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.

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.