Mizuho Has Lowered Expectations for Sun Communities (NYSE:SUI) Stock Price

Key Points

• Mizuho lowered Sun Communities’ price target slightly from $137 to $136 while maintaining an “outperform” rating, implying approximately 19.23% upside from the current price.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $138.86, though ratings range from Strong Buy to Sell.
• Sun Communities shares opened at $114.07, near their 12-month low of $113.74. Institutional investors and hedge funds own approximately 99.59% of the company’s stock.

Sun Communities (NYSE:SUI - Get Free Report) had its price objective cut by research analysts at Mizuho from $137.00 to $136.00 in a research note issued on Monday, Benzinga reports. The firm currently has an "outperform" rating on the real estate investment trust's stock. Mizuho's price target indicates a potential upside of 19.23% from the stock's current price.

SUI has been the topic of a number of other research reports. Royal Bank Of Canada downgraded Sun Communities from a "moderate buy" rating to a "hold" rating in a research note on Monday, August 10th. Odeon Capital Group set a $135.00 price target on Sun Communities in a research note on Thursday, July 9th. Jefferies Financial Group upgraded Sun Communities to a "strong-buy" rating in a report on Wednesday, July 22nd. Barclays boosted their price target on Sun Communities from $146.00 to $147.00 and gave the company an "overweight" rating in a research note on Monday, August 17th. Finally, Weiss Ratings downgraded Sun Communities from a "hold (c)" rating to a "sell (d+)" rating in a report on Wednesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $138.86.

Sun Communities Trading Up 0.3%

Shares of NYSE:SUI opened at $114.07 on Monday. The firm has a fifty day moving average of $120.50 and a two-hundred day moving average of $124.32. The firm has a market capitalization of $13.89 billion, a P/E ratio of -16.09, a price-to-earnings-growth ratio of 5.19 and a beta of 0.77. Sun Communities has a 12-month low of $113.74 and a 12-month high of $137.85. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.70.

Insider Buying and Selling

In other Sun Communities news, Director Gary Shiffman sold 25,031 shares of the firm's stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $119.96, for a total transaction of $3,002,718.76. Following the transaction, the director directly owned 857,761 shares in the company, valued at $102,897,009.56. This trade represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.58% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Oslo Pensjonsforsikring AS acquired a new stake in Sun Communities in the 1st quarter worth approximately $49,000. Allworth Financial LP raised its position in shares of Sun Communities by 141.6% in the fourth quarter. Allworth Financial LP now owns 430 shares of the real estate investment trust's stock valued at $53,000 after purchasing an additional 252 shares during the period. Eurizon SLJ Capital Ltd bought a new position in shares of Sun Communities in the fourth quarter valued at approximately $56,000. Avalon Trust Co bought a new position in shares of Sun Communities in the second quarter valued at approximately $61,000. Finally, V Square Quantitative Management LLC lifted its stake in shares of Sun Communities by 36.7% in the first quarter. V Square Quantitative Management LLC now owns 548 shares of the real estate investment trust's stock worth $69,000 after buying an additional 147 shares during the last quarter. Institutional investors and hedge funds own 99.59% of the company's stock.

About Sun Communities

Sun Communities, Inc NYSE: SUI is a real estate investment trust that owns, operates and develops residential and recreational properties. Its portfolio is centered on manufactured housing communities, where residents typically lease sites for manufactured homes, as well as recreational vehicle communities and resorts that provide short-term and long-term accommodations.

The company also operates marinas, offering services that may include boat slips, storage, fueling and related amenities.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.