Sun Communities (NYSE:SUI) Given New $135.00 Price Target at Deutsche Bank Aktiengesellschaft

Sun Communities (NYSE:SUI - Get Free Report) had its price objective hoisted by equities research analysts at Deutsche Bank Aktiengesellschaft from $117.00 to $135.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a "hold" rating on the real estate investment trust's stock. Deutsche Bank Aktiengesellschaft's target price indicates a potential upside of 6.28% from the company's previous close.

Several other brokerages have also weighed in on SUI. Jefferies Financial Group initiated coverage on Sun Communities in a research note on Tuesday, April 8th. They issued a "buy" rating and a $150.00 price target for the company. Barclays started coverage on Sun Communities in a research note on Thursday, May 29th. They issued an "overweight" rating and a $141.00 price target for the company. Colliers Securities started coverage on shares of Sun Communities in a report on Friday, June 13th. They set a "neutral" rating and a $130.00 price objective on the stock. Wall Street Zen downgraded shares of Sun Communities from a "hold" rating to a "sell" rating in a report on Saturday. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $140.00 price objective on shares of Sun Communities in a report on Tuesday, May 20th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $138.08.

Sun Communities Stock Performance

Shares of NYSE SUI traded down $1.08 during trading on Wednesday, reaching $127.03. 189,108 shares of the company traded hands, compared to its average volume of 843,806. The firm's fifty day simple moving average is $123.98 and its 200 day simple moving average is $125.33. The stock has a market cap of $16.21 billion, a P/E ratio of 204.93, a PEG ratio of 8.71 and a beta of 0.86. Sun Communities has a 12-month low of $109.22 and a 12-month high of $147.83. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 1.01.

Sun Communities (NYSE:SUI - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $1.26 earnings per share for the quarter, beating analysts' consensus estimates of $1.18 by $0.08. The business had revenue of $470.20 million during the quarter, compared to analyst estimates of $538.63 million. Sun Communities had a return on equity of 1.41% and a net margin of 2.85%. The company's revenue was up .2% on a year-over-year basis. During the same quarter last year, the business posted $1.19 EPS. As a group, research analysts anticipate that Sun Communities will post 6.77 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Jeff Blau bought 3,665 shares of Sun Communities stock in a transaction on Friday, May 23rd. The shares were bought at an average cost of $117.99 per share, with a total value of $432,433.35. Following the completion of the purchase, the director now directly owns 3,665 shares of the company's stock, valued at approximately $432,433.35. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.89% of the company's stock.

Hedge Funds Weigh In On Sun Communities

Institutional investors have recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new stake in Sun Communities during the first quarter worth $29,000. Twin Tree Management LP purchased a new position in shares of Sun Communities during the 1st quarter worth $29,000. Ransom Advisory Ltd purchased a new position in shares of Sun Communities during the 1st quarter worth $31,000. Aster Capital Management DIFC Ltd grew its holdings in shares of Sun Communities by 263.6% during the 4th 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 during the period. Finally, GKV Capital Management Co. Inc. purchased a new position in shares of Sun Communities during the 1st quarter worth $42,000. 99.59% of the stock is 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.

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