Sun Communities (NYSE:SUI) Price Target Cut to $143.00 by Analysts at Barclays

Sun Communities (NYSE:SUI) had its price objective reduced by Barclays from $147.00 to $143.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s target price suggests a potential upside of 26.27% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley reduced their price target on Sun Communities from $135.00 to $126.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 12th. Weiss Ratings downgraded Sun Communities from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, October 8th. Wells Fargo & Company reduced their price objective on Sun Communities from $142.00 to $141.00 and set an “overweight” rating on the stock in a research note on Monday, August 10th. Royal Bank Of Canada lowered their price objective on shares of Sun Communities from $148.00 to $140.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, Bank of America raised Sun Communities from an “underperform” rating to a “neutral” rating and set a $140.00 target price for the company in a report on Thursday, August 27th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $137.36.

Sun Communities Trading Up 0.3%

NYSE SUI opened at $113.25 on Wednesday. Sun Communities has a 12 month low of $109.77 and a 12 month high of $137.85. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.70. The company has a market cap of $13.79 billion, a PE ratio of -15.95, a PEG ratio of 4.91 and a beta of 0.76. The stock has a 50 day moving average of $117.27 and a 200-day moving average of $121.74.

Hedge Funds Weigh In On Sun Communities

Institutional investors have recently modified their holdings of the company. CX Institutional lifted its position in Sun Communities by 1,076.7% in the 3rd quarter. CX Institutional now owns 353 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 323 shares in the last quarter. Oslo Pensjonsforsikring AS purchased a new position in Sun Communities during the 1st quarter worth $49,000. Avalon Trust Co bought a new stake in shares of Sun Communities in the 2nd quarter worth $61,000. V Square Quantitative Management LLC lifted its position in shares of Sun Communities by 36.7% during the first quarter. V Square Quantitative Management LLC now owns 548 shares of the real estate investment trust’s stock valued at $69,000 after purchasing an additional 147 shares in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of Sun Communities in the 2nd quarter worth approximately $72,000. 99.59% of the stock is owned by institutional investors and hedge funds.

Sun Communities Company Profile

Sun Communities, Inc is a real estate investment trust that owns, operates and develops residential communities and recreational properties. Its portfolio primarily includes manufactured housing communities, recreational vehicle resorts and marinas.

The company provides housing and leisure-oriented accommodations through communities offering manufactured homes, seasonal and long-term RV sites, and related amenities. Its marina operations include wet slips, dry storage and other services for boat owners.

Founded in 1975, Sun Communities serves residents, vacationers and boaters across the United States, with additional operations in the United Kingdom.