Sun Communities (NYSE:SUI) Given New $137.00 Price Target at Truist Financial

Sun Communities (NYSE:SUI - Get Free Report) had its target price lifted by research analysts at Truist Financial from $135.00 to $137.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the real estate investment trust's stock. Truist Financial's target price would suggest a potential upside of 9.92% from the company's current price.

Other equities analysts have also issued reports about the stock. Jefferies Financial Group started coverage on shares of Sun Communities in a report on Tuesday, April 8th. They issued a "buy" rating and a $150.00 price target on the stock. Robert W. Baird lowered 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. Bank of America upped 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. Barclays began coverage on shares of Sun Communities in a research report on Thursday, May 29th. They set an "overweight" rating and a $141.00 price target for the company. Finally, Wall Street Zen upgraded shares of Sun Communities from a "sell" rating to a "hold" rating in a research report on Saturday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Sun Communities presently has an average rating of "Hold" and an average target price of $139.09.

Sun Communities Trading Up 1.3%

NYSE SUI traded up $1.63 during trading on Tuesday, hitting $124.64. The stock had a trading volume of 693,880 shares, compared to its average volume of 836,385. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. The stock has a market capitalization of $15.91 billion, a price-to-earnings ratio of 67.01 and a beta of 0.86. Sun Communities has a one year low of $109.22 and a one year high of $147.83. The stock has a 50 day simple moving average of $123.27 and a 200 day simple moving average of $125.49.

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

Institutional Investors Weigh In On Sun Communities

A number of hedge funds have recently added to or reduced their stakes in SUI. Norges Bank acquired a new stake in Sun Communities during the 4th quarter worth approximately $888,783,000. Dodge & Cox grew its position in Sun Communities by 42.1% during the 1st quarter. Dodge & Cox now owns 13,647,820 shares of the real estate investment trust's stock worth $1,755,656,000 after purchasing an additional 4,041,802 shares during the last quarter. Cohen & Steers Inc. grew its position in Sun Communities by 30.3% during the 4th quarter. Cohen & Steers Inc. now owns 16,373,446 shares of the real estate investment trust's stock worth $2,013,414,000 after purchasing an additional 3,811,528 shares during the last quarter. FMR LLC grew its position in Sun Communities by 51.3% during the 4th quarter. FMR LLC now owns 7,917,870 shares of the real estate investment trust's stock worth $973,660,000 after purchasing an additional 2,684,214 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Sun Communities by 19.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,549,540 shares of the real estate investment trust's stock valued at $682,429,000 after acquiring an additional 911,857 shares in the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

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.