Sun Communities (NYSE:SUI) Price Target Lowered to $132.00 at Wells Fargo & Company

Key Points

• Wells Fargo & Company has reduced its price target for Sun Communities from $135.00 to $132.00, maintaining an "equal weight" rating, indicating a potential upside of 5.82% based on the stock's previous close.
• Sun Communities recently reported an EPS of $1.76 for the last quarter, surpassing expectations, with guidance set for FY 2025 between 6.510-6.670 EPS.
• Analyst sentiments are mixed, with ratings varying from "buy" to "sell"; however, the company maintains an average target price of $138.21 based on analyst ratings.

Sun Communities (NYSE:SUI - Get Free Report) had its price target cut by equities researchers at Wells Fargo & Company from $135.00 to $132.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the real estate investment trust's stock. Wells Fargo & Company's target price indicates a potential upside of 5.82% from the stock's previous close.

A number of other analysts also recently weighed in on SUI. Bank of America boosted their target price on shares of Sun Communities from $124.00 to $132.00 and gave the stock an "underperform" rating in a report on Monday, May 12th. Barclays assumed coverage on shares of Sun Communities in a report on Thursday, May 29th. They issued an "overweight" rating and a $141.00 target price on the stock. Wall Street Zen upgraded shares of Sun Communities from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. JMP Securities restated a "market outperform" rating and issued a $140.00 target price on shares of Sun Communities in a report on Tuesday, May 20th. Finally, Colliers Securities began coverage on shares of Sun Communities in a report on Friday, June 13th. They set a "neutral" rating and a $130.00 price target on the stock. Six equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $138.21.

Sun Communities Stock Down 1.1%

SUI opened at $124.75 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 7.08 and a current ratio of 7.08. Sun Communities has a fifty-two week low of $109.22 and a fifty-two week high of $147.83. The firm's fifty day moving average is $125.65 and its 200 day moving average is $125.76. The stock has a market cap of $15.61 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 6.51 and a beta of 0.83.

Sun Communities (NYSE:SUI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $1.76 EPS for the quarter, topping the consensus estimate of $1.67 by $0.09. The business had revenue of $623.50 million for the quarter, compared to analysts' expectations of $614.79 million. Sun Communities had a net margin of 48.86% and a negative return on equity of 0.60%. During the same quarter in the previous year, the company earned $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. On average, sell-side analysts forecast that Sun Communities will post 6.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sun Communities

Hedge funds have recently modified their holdings of the business. Versor Investments LP lifted its position in Sun Communities by 92.5% during the first quarter. Versor Investments LP now owns 6,545 shares of the real estate investment trust's stock valued at $842,000 after acquiring an additional 3,145 shares during the last quarter. GAMMA Investing LLC lifted its position in Sun Communities by 23.8% during the first quarter. GAMMA Investing LLC now owns 1,047 shares of the real estate investment trust's stock valued at $135,000 after acquiring an additional 201 shares during the last quarter. Bessemer Group Inc. lifted its position in Sun Communities by 11.6% during the first quarter. Bessemer Group Inc. now owns 1,153 shares of the real estate investment trust's stock valued at $149,000 after acquiring an additional 120 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in Sun Communities by 9.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,042 shares of the real estate investment trust's stock valued at $520,000 after acquiring an additional 365 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in Sun Communities during the first quarter valued at approximately $2,392,000. 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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