Colliers Securities Begins Coverage on Sun Communities (NYSE:SUI)

Equities research analysts at Colliers Securities initiated coverage on shares of Sun Communities (NYSE:SUI - Get Free Report) in a note issued to investors on Friday, Marketbeat.com reports. The brokerage set a "neutral" rating and a $130.00 price target on the real estate investment trust's stock. Colliers Securities' price objective suggests a potential upside of 5.28% from the stock's current price.

SUI has been the topic of a number of other research reports. JMP Securities reaffirmed a "market outperform" rating and set a $140.00 price target on shares of Sun Communities in a research note on Tuesday, May 20th. Royal Bank of Canada cut their target price on Sun Communities from $154.00 to $147.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Robert W. Baird reduced their target price on Sun Communities from $128.00 to $126.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Truist Financial set a $137.00 price target on Sun Communities and gave the stock a "buy" rating in a research note on Tuesday, June 3rd. Finally, Jefferies Financial Group started coverage on Sun Communities in a report on Tuesday, April 8th. They issued a "buy" rating and a $150.00 price objective on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, Sun Communities presently has an average rating of "Hold" and an average target price of $138.33.

Sun Communities Trading Down 1.8%

Shares of Sun Communities stock traded down $2.32 during trading hours on Friday, reaching $123.48. 1,163,148 shares of the company's stock were exchanged, compared to its average volume of 845,965. Sun Communities has a 52-week low of $109.22 and a 52-week high of $147.83. The company has a fifty day moving average of $123.01 and a 200-day moving average of $125.41. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $15.76 billion, a price-to-earnings ratio of 66.39 and a beta of 0.86.

Sun Communities (NYSE:SUI - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $1.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.18 by $0.08. The firm had revenue of $470.20 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the company earned $1.19 EPS. Sell-side analysts forecast that Sun Communities will post 6.77 EPS for the current fiscal year.

Insider Transactions at Sun Communities

In other Sun Communities news, Director Jeff Blau purchased 3,665 shares of Sun Communities stock in a transaction that occurred on Friday, May 23rd. The stock was purchased at an average price of $117.99 per share, with a total value of $432,433.35. Following the completion of the acquisition, the director now owns 3,665 shares of the company's stock, valued at approximately $432,433.35. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.77% of the company's stock.

Hedge Funds Weigh In On Sun Communities

Several institutional investors and hedge funds have recently made changes to their positions in the business. Twin Tree Management LP bought a new position in Sun Communities during the 1st quarter valued at $29,000. Opal Wealth Advisors LLC bought a new position in shares of Sun Communities during the first quarter worth about $29,000. Ransom Advisory Ltd acquired a new position in Sun Communities in the first quarter worth about $31,000. Aster Capital Management DIFC Ltd grew its stake 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 purchasing an additional 232 shares in the last quarter. Finally, GKV Capital Management Co. Inc. bought a new stake in Sun Communities in the first quarter valued at about $42,000. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

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.