Sun Communities (NYSE:SUI) Given New $138.00 Price Target at Evercore ISI

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 objective raised by equities researchers at Evercore ISI from $136.00 to $138.00 in a report released on Monday,Benzinga reports. The firm currently has an "in-line" rating on the real estate investment trust's stock. Evercore ISI's price target would suggest a potential upside of 6.13% from the stock's current price.

SUI has been the topic of a number of other research reports. Morgan Stanley set a $142.00 price objective on Sun Communities in a report on Thursday, September 4th. Truist Financial upped their price objective on Sun Communities from $137.00 to $141.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. JMP Securities reissued a "market outperform" rating and issued a $140.00 target price on shares of Sun Communities in a report on Tuesday, May 20th. Robert W. Baird boosted their target price on shares of Sun Communities from $126.00 to $134.00 and gave the stock a "neutral" rating in a research report on Monday, August 11th. Finally, Barclays initiated coverage on shares of Sun Communities in a report on Thursday, May 29th. They issued an "overweight" rating and a $141.00 price target for the company. Six research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $137.86.

Sun Communities Stock Performance

NYSE:SUI traded up $0.03 during trading hours on Monday, reaching $130.03. 44,366 shares of the company's stock were exchanged, compared to its average volume of 871,360. The company has a quick ratio of 7.08, a current ratio of 7.08 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $16.27 billion, a price-to-earnings ratio of 12.72, a P/E/G ratio of 6.71 and a beta of 0.86. Sun Communities has a 1-year low of $109.22 and a 1-year high of $147.50. The company has a 50-day moving average of $125.77 and a 200 day moving average of $125.74.

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

Institutional Trading of Sun Communities

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SUI. Twin Tree Management LP acquired a new position in Sun Communities during the first quarter worth approximately $29,000. Opal Wealth Advisors LLC purchased a new stake in shares of Sun Communities during the 1st quarter valued at $29,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Sun Communities during the 2nd quarter worth $30,000. Ransom Advisory Ltd purchased a new position in shares of Sun Communities in the 1st quarter worth $31,000. Finally, MAI Capital Management boosted its holdings in Sun Communities by 164.4% in the second quarter. MAI Capital Management now owns 267 shares of the real estate investment trust's stock valued at $34,000 after acquiring an additional 166 shares during the last quarter. Hedge funds and other institutional investors 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.

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