Jefferies Financial Group Initiates Coverage on Sun Communities (NYSE:SUI)

Investment analysts at Jefferies Financial Group initiated coverage on shares of Sun Communities (NYSE:SUI) in a report released on Tuesday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $150.00 price target on the real estate investment trust’s stock. Jefferies Financial Group’s price objective points to a potential upside of 23.39% from the stock’s previous close.

Several other analysts have also recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating on shares of Sun Communities in a research note on Friday, February 28th. Truist Financial upped their price objective on shares of Sun Communities from $136.00 to $142.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Finally, Wells Fargo & Company cut their target price on shares of 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. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Sun Communities presently has a consensus rating of “Hold” and an average target price of $137.40.

Sun Communities Price Performance

Shares of SUI opened at $121.57 on Tuesday. Sun Communities has a fifty-two week low of $109.22 and a fifty-two week high of $147.83. The company has a market capitalization of $15.51 billion, a price-to-earnings ratio of 65.36 and a beta of 0.84. The firm has a 50-day simple moving average of $128.17 and a 200-day simple moving average of $127.79. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61.

Sun Communities (NYSE:SUI) last announced its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 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. On average, equities research analysts anticipate that Sun Communities will post 6.77 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SUI. Aster Capital Management DIFC Ltd grew its stake in Sun Communities by 263.6% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 232 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in Sun Communities by 45.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 124 shares during the last quarter. CKW Financial Group grew its stake in Sun Communities by 45.0% in the 4th quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 135 shares during the last quarter. Parallel Advisors LLC grew its stake in Sun Communities by 66.4% in the 1st quarter. Parallel Advisors LLC now owns 476 shares of the real estate investment trust’s stock valued at $61,000 after buying an additional 190 shares during the last quarter. Finally, Natixis acquired a new position in Sun Communities in the 4th quarter valued at $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.