Sun Communities (NYSE:SUI) Receives Hold (C) Rating from Weiss Ratings

Key Points

• Sun Communities' stock is currently rated "Hold" by Weiss Ratings, with a consensus price target of $137.86 among analysts.
• The company reported a Q2 earnings per share (EPS) of $1.76, which exceeded analysts' expectations, along with revenue of $623.50 million.
• Institutional investors hold 99.59% of Sun Communities' stock, indicating strong interest from large investment entities.

Sun Communities (NYSE:SUI - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Other equities research analysts have also issued research reports about the company. Wall Street Zen raised Sun Communities from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Wells Fargo & Company dropped their price objective 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 decreased their target price on Sun Communities from $147.00 to $143.00 and set an "outperform" rating on the stock in a research report on Friday, August 1st. Robert W. Baird upped their target price on Sun Communities from $126.00 to $134.00 and gave the company a "neutral" rating in a research note on Monday, August 11th. Finally, Evercore ISI upped their price target on Sun Communities from $136.00 to $138.00 and gave the stock an "in-line" rating in a research note on Monday, September 15th. Six investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $137.86.

Sun Communities Stock Performance

Shares of Sun Communities stock traded down $1.23 on Wednesday, reaching $124.93. 1,112,134 shares of the stock were exchanged, compared to its average volume of 774,625. Sun Communities has a twelve month low of $109.22 and a twelve month high of $140.49. The firm has a market capitalization of $15.63 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 6.51 and a beta of 0.86. The business has a 50 day moving average price of $127.32 and a two-hundred day moving average price of $125.39. The company has a quick ratio of 7.08, a current ratio of 7.08 and a debt-to-equity ratio of 0.55.

Sun Communities (NYSE:SUI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $1.76 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 during the quarter, compared to analysts' expectations of $614.79 million. During the same period in the previous year, the business earned $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. Analysts anticipate that Sun Communities will post 6.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sun Communities

Several hedge funds have recently modified their holdings of SUI. Opal Wealth Advisors LLC bought a new stake in shares of Sun Communities during the 1st quarter worth $29,000. Twin Tree Management LP acquired a new stake in Sun Communities during the first quarter valued at $29,000. Elevation Point Wealth Partners LLC bought a new position in Sun Communities during the second quarter valued at about $30,000. Ransom Advisory Ltd bought a new position in shares of Sun Communities in the first quarter worth about $31,000. Finally, MAI Capital Management increased its stake in shares of Sun Communities by 164.4% in the second quarter. MAI Capital Management now owns 267 shares of the real estate investment trust's stock worth $34,000 after purchasing an additional 166 shares during the period. 99.59% of the stock is currently owned by institutional investors and hedge funds.

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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