Sun Communities, Inc. (NYSE:SUI) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Sun Communities has a consensus “Moderate Buy” rating from 17 analysts: eight rate it a buy, two a strong buy, six a hold, and one a sell. The average 12-month price target is $139.42, above the reported share price of $119.46.
• The stock has traded between $115.90 and $137.85 over the past year, with a market capitalization of approximately $14.55 billion. Recent analyst targets range from $133 to $147.
• Institutional investors own 99.59% of Sun Communities, while director Gary Shiffman recently sold 25,031 shares for approximately $3.0 million; insiders retain a 1.58% ownership stake.

Shares of Sun Communities, Inc. (NYSE:SUI - Get Free Report) have earned a consensus rating of "Moderate Buy" from the seventeen research firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $139.4219.

Several brokerages have recently issued reports on SUI. Barclays upped their price objective on Sun Communities from $146.00 to $147.00 and gave the stock an "overweight" rating in a report on Monday, August 17th. Truist Financial reduced their price target on shares of Sun Communities from $141.00 to $138.00 and set a "buy" rating on the stock in a research report on Friday, June 26th. Mizuho decreased their price target on shares of Sun Communities from $143.00 to $137.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft set a $133.00 price target on shares of Sun Communities in a report on Thursday, May 14th. Finally, Odeon Capital Group set a $135.00 price objective on Sun Communities in a research note on Thursday, July 9th.

Sun Communities Trading Down 0.3%

Shares of Sun Communities stock opened at $119.46 on Friday. Sun Communities has a twelve month low of $115.90 and a twelve 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. The business has a 50-day moving average price of $121.47 and a 200-day moving average price of $125.51. The firm has a market cap of $14.55 billion, a price-to-earnings ratio of -16.85, a PEG ratio of 5.47 and a beta of 0.77.

Insider Activity

In other news, Director Gary Shiffman sold 25,031 shares of Sun Communities stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $119.96, for a total value of $3,002,718.76. Following the completion of the transaction, the director owned 857,761 shares in the company, valued at approximately $102,897,009.56. The trade was a 2.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.58% of the stock is owned by insiders.

Institutional Trading of Sun Communities

A number of institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Sun Communities by 9.1% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,003 shares of the real estate investment trust's stock valued at $127,000 after acquiring an additional 84 shares during the period. IFP Advisors Inc lifted its holdings in shares of Sun Communities by 3.2% in the 4th quarter. IFP Advisors Inc now owns 2,902 shares of the real estate investment trust's stock worth $360,000 after acquiring an additional 89 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Sun Communities by 13.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 773 shares of the real estate investment trust's stock worth $96,000 after purchasing an additional 90 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Sun Communities by 2.1% during the 4th quarter. CIBC Asset Management Inc now owns 5,467 shares of the real estate investment trust's stock worth $677,000 after purchasing an additional 112 shares during the period. Finally, Orion Porfolio Solutions LLC grew its holdings in Sun Communities by 1.3% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 9,335 shares of the real estate investment trust's stock valued at $1,181,000 after purchasing an additional 117 shares during the last quarter. 99.59% of the stock is currently owned by institutional investors.

About Sun Communities

Sun Communities, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company's portfolio spans more than 500 manufactured housing communities and over 160 RV resorts, offering affordable, long-term housing as well as short-stay recreational lodging. Through professional on-site management and amenity-rich community designs, Sun Communities serves a diverse customer base that includes retirees, workforce families and vacationers.

Founded in 1975 and headquartered in Southfield, Michigan, Sun Communities has grown organically and through strategic acquisitions to become one of the largest operators in its sector.

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