Sun Communities (NYSE:SUI) Raised to Hold at Wall Street Zen

Key Points

• Sun Communities has been upgraded from a "sell" to a "hold" rating by Wall Street Zen, indicating a positive shift in analyst sentiment toward the stock.
• The company's current average price target is $137.86, with various analysts providing differing price target adjustments, reflecting varying views on its potential performance.
• Sun Communities reported a quarterly EPS of $1.76, exceeding expectations, and has a consistent financial profile with a market cap of approximately $15.70 billion.

Sun Communities (NYSE:SUI - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

SUI has been the topic of several other research reports. Colliers Securities initiated coverage on shares of Sun Communities in a report on Friday, June 13th. They issued a "neutral" rating and a $130.00 price target on the stock. JMP Securities reaffirmed a "market outperform" rating and issued a $140.00 price target on shares of Sun Communities in a report on Tuesday, May 20th. Robert W. Baird reduced their price target on shares of Sun Communities from $128.00 to $126.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft set a $135.00 price target on shares of Sun Communities and gave the company a "hold" rating in a report on Wednesday, June 25th. 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 on the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Sun Communities has a consensus rating of "Hold" and a consensus target price of $138.43.

Sun Communities Price Performance

SUI stock traded up $0.29 during trading on Friday, reaching $125.51. 506,708 shares of the company were exchanged, compared to its average volume of 879,236. The company has a market cap of $15.71 billion, a P/E ratio of 12.30, a PEG ratio of 8.48 and a beta of 0.83. Sun Communities has a 52-week low of $109.22 and a 52-week high of $147.83. The stock's 50 day moving average price is $125.22 and its 200 day moving average price is $125.75. 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 (NYSE:SUI - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $1.76 EPS for the quarter, topping analysts' consensus estimates of $1.67 by $0.09. The firm had revenue of $623.50 million for the quarter, compared to the consensus estimate 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 firm earned $1.86 earnings per share. As a group, analysts predict that Sun Communities will post 6.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jeff Blau purchased 3,665 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The stock was purchased at an average price of $117.99 per share, with a total value of $432,433.35. Following the completion of the transaction, the director owned 3,665 shares of the company's stock, valued at approximately $432,433.35. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.89% of the company's stock.

Institutional Investors Weigh In On Sun Communities

Large investors have recently made changes to their positions in the business. Twin Tree Management LP acquired a new stake in shares of Sun Communities in the first quarter worth $29,000. Opal Wealth Advisors LLC acquired a new stake in shares of Sun Communities in the first quarter worth $29,000. Ransom Advisory Ltd acquired a new stake in shares of Sun Communities in the first quarter worth $31,000. MAI Capital Management increased its position 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 acquiring an additional 166 shares in the last quarter. Finally, GKV Capital Management Co. Inc. acquired a new stake in shares of Sun Communities in the first quarter worth $42,000. Institutional investors and hedge funds 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.