Sun Communities (NYSE:SUI) Earns Overweight Rating from Analysts at Barclays

Research analysts at Barclays began coverage on shares of Sun Communities (NYSE:SUI - Get Free Report) in a report issued on Thursday, Marketbeat reports. The brokerage set an "overweight" rating and a $141.00 price target on the real estate investment trust's stock. Barclays's target price suggests a potential upside of 14.28% from the stock's previous close.

Other equities analysts have also recently issued research reports about the stock. Jefferies Financial Group started coverage on shares of Sun Communities in a research report on Tuesday, April 8th. They issued a "buy" rating and a $150.00 price target for the company. Royal Bank of Canada decreased their price target on shares of Sun Communities from $154.00 to $147.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. JMP Securities reissued a "market outperform" rating and issued a $140.00 price target on shares of Sun Communities in a research report on Tuesday, May 20th. Bank of America lifted their price objective on shares of Sun Communities from $124.00 to $132.00 and gave the stock an "underperform" rating in a research report on Monday, May 12th. Finally, Robert W. Baird decreased their price objective on shares of Sun Communities from $128.00 to $126.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $138.91.

Sun Communities Trading Up 0.8%

Sun Communities stock traded up $0.97 during trading on Thursday, hitting $123.38. The company had a trading volume of 1,137,516 shares, compared to its average volume of 837,882. Sun Communities has a 1-year low of $109.22 and a 1-year high of $147.83. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. The company's 50 day simple moving average is $123.49 and its 200-day simple moving average is $125.51. The stock has a market cap of $15.75 billion, a price-to-earnings ratio of 66.33 and a beta of 0.86.

Sun Communities (NYSE:SUI - Get Free Report) last posted its earnings results on Monday, May 5th. The real estate investment trust reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.08. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The firm had revenue of $470.20 million during the quarter, compared to the consensus estimate of $538.63 million. During the same quarter last year, the firm earned $1.19 EPS. The firm's revenue for the quarter was up .2% on a year-over-year basis. As a group, analysts expect that Sun Communities will post 6.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Sun Communities

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Anson Funds Management LP increased its stake 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. Strs Ohio acquired a new position in Sun Communities in the first quarter valued at $27,381,000. Acadian Asset Management LLC acquired a new position in Sun Communities in the first quarter valued at $362,000. Ransom Advisory Ltd acquired a new position in Sun Communities in the first quarter valued at $31,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Sun Communities by 2.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,404,160 shares of the real estate investment trust's stock valued at $180,631,000 after purchasing an additional 39,849 shares during the period. 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.