Sun Communities (NYSE:SUI) Stock Rating Upgraded by Wall Street Zen

Sun Communities (NYSE:SUI) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other equities research analysts also recently weighed in on the company. Jefferies Financial Group assumed coverage on Sun Communities in a report on Tuesday, April 8th. They issued a “buy” rating and a $150.00 price objective for the company. Bank of America increased their price objective on Sun Communities from $124.00 to $132.00 and gave the company an “underperform” rating in a report on Monday, May 12th. Truist Financial cut their price target on Sun Communities from $142.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Barclays began coverage on Sun Communities in a research note on Thursday. They set an “overweight” rating and a $141.00 price target for the company. Finally, Robert W. Baird cut their price target on Sun Communities from $128.00 to $126.00 and set a “neutral” rating for the company in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $138.91.

Sun Communities Stock Performance

Shares of SUI opened at $123.38 on Friday. The stock has a 50 day moving average price of $123.49 and a 200 day moving average price of $125.51. 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 $15.75 billion, a price-to-earnings ratio of 66.33 and a beta of 0.86. Sun Communities has a 52-week low of $109.22 and a 52-week high of $147.83.

Sun Communities (NYSE:SUI) last announced its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.08. The firm had revenue of $470.20 million during the quarter, compared to the consensus estimate of $538.63 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.19 earnings per share. Research analysts predict that Sun Communities will post 6.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Opal Wealth Advisors LLC purchased a new position in Sun Communities in the first quarter worth $29,000. Twin Tree Management LP purchased a new position in Sun Communities in the first quarter worth $29,000. Ransom Advisory Ltd purchased a new position in Sun Communities in the first quarter worth $31,000. Aster Capital Management DIFC Ltd raised its position in Sun Communities by 263.6% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 232 shares in the last quarter. Finally, GKV Capital Management Co. Inc. purchased a new position in shares of Sun Communities in the first quarter valued at $42,000. 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.