StockNews.com Upgrades Sun Communities (NYSE:SUI) to “Hold”

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

Several other research analysts have also weighed in on the stock. Baird R W lowered shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Wells Fargo & Company boosted their price objective on Sun Communities from $123.00 to $154.00 and gave the company an “equal weight” rating in a report on Thursday, September 19th. Bank of America downgraded Sun Communities from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $147.00 to $114.00 in a report on Tuesday. Robert W. Baird downgraded Sun Communities from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $145.00 to $126.00 in a report on Thursday, November 7th. Finally, UBS Group upgraded shares of Sun Communities to a “strong-buy” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Sun Communities has an average rating of “Hold” and an average price target of $139.50.

Sun Communities Stock Down 2.3 %

Shares of Sun Communities stock traded down $2.94 during trading hours on Tuesday, hitting $124.18. 1,245,130 shares of the company’s stock traded hands, compared to its average volume of 831,265. Sun Communities has a twelve month low of $110.98 and a twelve month high of $147.83. The company has a market cap of $15.48 billion, a PE ratio of 66.76, a PEG ratio of 0.96 and a beta of 0.91. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.09. The stock has a 50 day simple moving average of $135.16 and a 200-day simple moving average of $126.95.

Sun Communities (NYSE:SUI) last posted its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.20). The business had revenue of $939.90 million for the quarter, compared to analysts’ expectations of $980.41 million. Sun Communities had a return on equity of 3.26% and a net margin of 7.46%. Sun Communities’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.57 earnings per share. Equities research analysts anticipate that Sun Communities will post 6.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SUI. Assetmark Inc. raised its stake in shares of Sun Communities by 2,111.1% in the 3rd quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 190 shares in the last quarter. Quest Partners LLC grew its position in Sun Communities by 12,700.0% in the second quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 381 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Sun Communities by 89.1% in the third quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock valued at $68,000 after buying an additional 236 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of Sun Communities during the 2nd quarter valued at $62,000. Finally, Blue Trust Inc. boosted its stake in shares of Sun Communities by 230.7% during the 3rd quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock worth $84,000 after acquiring an additional 436 shares in the last quarter. 99.59% of the stock is owned by institutional investors and hedge funds.

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.