Sun Communities (NYSE:SUI) Earns Market Outperform Rating from JMP Securities

Sun Communities (NYSE:SUI - Get Free Report)'s stock had its "market outperform" rating reiterated by equities research analysts at JMP Securities in a research note issued on Monday,Benzinga reports. They currently have a $140.00 price target on the real estate investment trust's stock, down from their previous price target of $150.00. JMP Securities' price objective would suggest a potential upside of 14.52% from the company's previous close.

A number of other research firms also recently weighed in on SUI. Royal Bank of Canada reaffirmed an "outperform" rating on shares of Sun Communities in a research report on Friday, February 28th. Truist Financial lowered their target price on Sun Communities from $142.00 to $135.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Finally, Jefferies Financial Group assumed coverage on Sun Communities in a research report on Tuesday, April 8th. They set a "buy" rating and a $150.00 price target for the company. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Sun Communities currently has an average rating of "Hold" and an average target price of $135.70.

Sun Communities Stock Up 0.0 %

SUI traded up $0.05 during trading on Monday, hitting $122.25. The company had a trading volume of 547,892 shares, compared to its average volume of 839,829. The company has a market capitalization of $15.60 billion, a PE ratio of 65.73 and a beta of 0.84. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. Sun Communities has a one year low of $109.22 and a one year high of $147.83. The firm's 50-day moving average price is $127.22 and its 200 day moving average price is $126.90.

Sun Communities (NYSE:SUI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.02. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The company had revenue of $745.90 million during the quarter, compared to analysts' expectations of $724.68 million. As a group, equities analysts expect that Sun Communities will post 6.77 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SUI. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Sun Communities by 8.5% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,069 shares of the real estate investment trust's stock worth $131,000 after acquiring an additional 84 shares during the period. Cascade Investment Advisors Inc. boosted its stake in Sun Communities by 0.8% in the 4th quarter. Cascade Investment Advisors Inc. now owns 10,373 shares of the real estate investment trust's stock valued at $1,276,000 after purchasing an additional 85 shares during the period. Utah Retirement Systems grew its holdings in Sun Communities by 0.5% in the 4th quarter. Utah Retirement Systems now owns 20,503 shares of the real estate investment trust's stock valued at $2,521,000 after buying an additional 100 shares in the last quarter. Cetera Trust Company N.A grew its holdings in Sun Communities by 6.0% in the 4th quarter. Cetera Trust Company N.A now owns 1,865 shares of the real estate investment trust's stock valued at $229,000 after buying an additional 105 shares in the last quarter. Finally, Bessemer Group Inc. increased its position in Sun Communities by 11.6% during the 1st quarter. Bessemer Group Inc. now owns 1,153 shares of the real estate investment trust's stock worth $149,000 after buying an additional 120 shares during the period. Institutional investors and hedge funds 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.