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 research report issued to clients and investors on Friday, MarketBeat Ratings 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 points to a potential upside of 5.44% from the stock's current price.

A number of other analysts have also recently weighed in on SUI. Jefferies Financial Group initiated coverage on shares of Sun Communities in a report on Tuesday, April 8th. They issued a "buy" rating and a $150.00 price target on the stock. Truist Financial set a $137.00 price target on shares of Sun Communities and gave the stock a "buy" rating in a report on Tuesday, June 3rd. Barclays started coverage on Sun Communities in a research report on Thursday, May 29th. They set an "overweight" rating and a $141.00 price target on the stock. JMP Securities reissued a "market outperform" rating and issued a $140.00 price objective on shares of Sun Communities in a research report on Tuesday, May 20th. Finally, Royal Bank of Canada reduced 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. 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. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $138.33.

Sun Communities Stock Down 0.3%

Shares of NYSE:SUI traded down $0.32 during trading hours on Friday, hitting $123.29. The company's stock had a trading volume of 661,438 shares, compared to its average volume of 807,902. The firm's fifty day moving average price is $123.19 and its 200 day moving average price is $125.34. Sun Communities has a 52 week low of $109.22 and a 52 week high of $147.83. The company has a market capitalization of $15.74 billion, a price-to-earnings ratio of 66.28 and a beta of 0.86. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61.

Sun Communities (NYSE:SUI - Get Free Report) 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 business had revenue of $470.20 million for 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 business's revenue was up .2% compared to the same quarter last year. During the same period last year, the business posted $1.19 EPS. As a group, research analysts expect that Sun Communities will post 6.77 EPS for the current year.

Insider Activity at Sun Communities

In related news, Director Jeff Blau purchased 3,665 shares of the firm's stock in a transaction on Friday, May 23rd. The stock was bought at an average cost 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 $432,433.35. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.77% of the stock is currently owned by insiders.

Institutional Trading of Sun Communities

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nicola Wealth Management LTD. boosted its stake in shares of Sun Communities by 26.5% during the 1st quarter. Nicola Wealth Management LTD. now owns 10,984 shares of the real estate investment trust's stock worth $1,413,000 after acquiring an additional 2,300 shares in the last quarter. First Hawaiian Bank boosted its position in Sun Communities by 25.3% during the first quarter. First Hawaiian Bank now owns 28,125 shares of the real estate investment trust's stock worth $3,618,000 after purchasing an additional 5,685 shares in the last quarter. Inspire Investing LLC boosted its position in Sun Communities by 5.7% during the first quarter. Inspire Investing LLC now owns 14,129 shares of the real estate investment trust's stock worth $1,818,000 after purchasing an additional 761 shares in the last quarter. Anson Funds Management LP grew its holdings in Sun Communities by 67.9% in the first quarter. Anson Funds Management LP now owns 36,920 shares of the real estate investment trust's stock valued at $4,749,000 after purchasing an additional 14,930 shares during the period. Finally, Strs Ohio purchased a new stake in shares of Sun Communities in the first quarter valued at approximately $27,381,000. Institutional investors and hedge funds own 99.59% of the company's stock.

Sun Communities Company Profile

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.