Compass Point Lowers Sun Communities (NYSE:SUI) Price Target to $116.00

Sun Communities (NYSE:SUI) had its price target decreased by equities researchers at Compass Point from $125.00 to $116.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. Compass Point’s price target suggests a potential upside of 7.37% from the stock’s current price.

A number of other analysts have also recently issued reports on SUI. JMP Securities dropped their price objective on Sun Communities from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Tuesday, August 15th. StockNews.com began coverage on Sun Communities in a research report on Thursday, October 5th. They issued a “sell” rating on the stock. BMO Capital Markets lowered their target price on Sun Communities from $148.00 to $143.00 and set an “outperform” rating for the company in a research note on Monday, September 11th. Bank of America cut Sun Communities from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $148.00 to $128.00 in a research note on Monday, October 2nd. Finally, Evercore ISI lowered their price target on Sun Communities from $139.00 to $132.00 in a report on Monday, October 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $142.82.

Sun Communities Trading Up 0.3 %

Shares of Sun Communities stock opened at $108.04 on Friday. The stock has a fifty day simple moving average of $117.00 and a 200 day simple moving average of $126.91. Sun Communities has a 12-month low of $102.74 and a 12-month high of $163.83. The company has a market capitalization of $13.44 billion, a P/E ratio of 59.04, a price-to-earnings-growth ratio of 3.87 and a beta of 0.71. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.94.

Sun Communities (NYSE:SUI) last announced its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.95 by ($1.23). Sun Communities had a net margin of 7.17% and a return on equity of 2.81%. The business had revenue of $863.50 million during the quarter, compared to the consensus estimate of $834.99 million. During the same quarter last year, the company earned $2.02 EPS. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Sun Communities will post 7.1 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Marc Farrugia sold 4,962 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $123.90, for a total value of $614,791.80. Following the transaction, the executive vice president now directly owns 5,093 shares of the company’s stock, valued at approximately $631,022.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Baxter Underwood purchased 400 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was acquired at an average price of $119.93 per share, for a total transaction of $47,972.00. Following the acquisition, the chief executive officer now directly owns 73,633 shares of the company’s stock, valued at $8,830,805.69. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Marc Farrugia sold 4,962 shares of Sun Communities stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $123.90, for a total transaction of $614,791.80. Following the completion of the sale, the executive vice president now owns 5,093 shares of the company’s stock, valued at approximately $631,022.70. The disclosure for this sale can be found here. Insiders own 2.06% of the company’s stock.

Hedge Funds Weigh In On Sun Communities

Institutional investors have recently modified their holdings of the business. Lindbrook Capital LLC lifted its position in shares of Sun Communities by 120.2% during the 3rd quarter. Lindbrook Capital LLC now owns 229 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 125 shares during the last quarter. Eagle Bay Advisors LLC purchased a new stake in shares of Sun Communities in the second quarter valued at about $27,000. V Square Quantitative Management LLC acquired a new position in shares of Sun Communities during the second quarter worth about $31,000. Headlands Technologies LLC acquired a new position in shares of Sun Communities during the first quarter worth about $39,000. Finally, Covestor Ltd increased its stake in shares of Sun Communities by 25.8% during the second quarter. Covestor Ltd now owns 503 shares of the real estate investment trust’s stock worth $66,000 after acquiring an additional 103 shares during the period. Institutional investors and hedge funds own 94.79% 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 June 30, 2023, the Company owned, operated, or had an interest in a portfolio of 671 developed MH, RV and Marina properties comprising approximately 180,060 developed sites and approximately 48,180 wet slips and dry storage spaces in the U.S., the UK and Canada.