Evercore ISI Boosts Sun Communities (NYSE:SUI) Price Target to $138.00

Key Points

• Evercore ISI has raised its price target for Sun Communities from $136.00 to $138.00, suggesting a potential upside of 6.13% from current levels.
• Analysts maintain an average rating of "Hold" for the stock, with six giving it a "Buy" rating and eight issuing "Hold" ratings.
• Sun Communities reported a quarterly EPS of $1.76, exceeding expectations, and has set guidance for FY 2025 EPS between 6.510-6.670.

Sun Communities (NYSE:SUI - Get Free Report) had its price target lifted by Evercore ISI from $136.00 to $138.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "in-line" rating on the real estate investment trust's stock. Evercore ISI's price target indicates a potential upside of 7.37% from the company's current price.

SUI has been the topic of several other reports. Wells Fargo & Company dropped their target price on Sun Communities from $135.00 to $132.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 27th. Royal Bank Of Canada lowered their price objective on Sun Communities from $147.00 to $143.00 and set an "outperform" rating for the company in a research note on Friday, August 1st. JMP Securities restated a "market outperform" rating and set a $140.00 price objective on shares of Sun Communities in a research note on Tuesday, May 20th. Colliers Securities assumed coverage on Sun Communities in a research note on Friday, June 13th. They set a "neutral" rating and a $130.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft set a $135.00 price objective on Sun Communities and gave the company a "hold" rating in a research note on Wednesday, June 25th. Six equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $137.86.

Sun Communities Trading Up 0.4%

Shares of Sun Communities stock traded up $0.53 during trading hours on Monday, reaching $128.53. The stock had a trading volume of 375,123 shares, compared to its average volume of 873,400. The firm has a market capitalization of $16.09 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 6.63 and a beta of 0.86. The company has a current ratio of 7.08, a quick ratio of 7.08 and a debt-to-equity ratio of 0.55. Sun Communities has a 1 year low of $109.22 and a 1 year high of $144.62. The firm has a 50 day simple moving average of $125.87 and a two-hundred day simple moving average of $125.67.

Sun Communities (NYSE:SUI - Get Free Report) last announced its earnings results on Wednesday, July 30th. The real estate investment trust reported $1.76 EPS for the quarter, beating the consensus estimate of $1.67 by $0.09. The business had revenue of $623.50 million for the quarter, compared to the consensus estimate of $614.79 million. Sun Communities had a negative return on equity of 0.60% and a net margin of 48.86%.During the same period last year, the business posted $1.86 EPS. Sun Communities has set its FY 2025 guidance at 6.510-6.670 EPS. Q3 2025 guidance at 2.130-2.230 EPS. As a group, equities research analysts anticipate that Sun Communities will post 6.77 earnings per share for the current year.

Institutional Trading of Sun Communities

Several hedge funds have recently added to or reduced their stakes in SUI. Captrust Financial Advisors raised its stake in Sun Communities by 3.7% during the 4th quarter. Captrust Financial Advisors now owns 3,627 shares of the real estate investment trust's stock valued at $446,000 after acquiring an additional 128 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Sun Communities by 5.3% in the 4th quarter. Janus Henderson Group PLC now owns 27,936 shares of the real estate investment trust's stock worth $3,435,000 after buying an additional 1,400 shares in the last quarter. OMERS ADMINISTRATION Corp raised its stake in shares of Sun Communities by 20.7% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 5,239 shares of the real estate investment trust's stock worth $644,000 after buying an additional 898 shares in the last quarter. Quantinno Capital Management LP raised its stake in shares of Sun Communities by 12.4% in the 4th quarter. Quantinno Capital Management LP now owns 8,650 shares of the real estate investment trust's stock worth $1,064,000 after buying an additional 955 shares in the last quarter. Finally, Snowden Capital Advisors LLC raised its stake in shares of Sun Communities by 10.6% in the 4th quarter. Snowden Capital Advisors LLC now owns 2,429 shares of the real estate investment trust's stock worth $301,000 after buying an additional 232 shares in the last quarter. Institutional investors own 99.59% of the company's stock.

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.