Sun Communities, Inc. (NYSE:SUI) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Sun Communities, Inc. (NYSE:SUIGet Free Report) have earned an average rating of “Moderate Buy” from the eleven research firms that are currently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $136.27.

A number of research analysts have recently issued reports on SUI shares. Compass Point increased their target price on Sun Communities from $116.00 to $125.00 and gave the company a “neutral” rating in a research report on Thursday, March 21st. JMP Securities reissued a “market outperform” rating and issued a $150.00 price objective on shares of Sun Communities in a research note on Thursday, May 2nd. Royal Bank of Canada reduced their price objective on Sun Communities from $142.00 to $130.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Evercore ISI reduced their price objective on Sun Communities from $145.00 to $128.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Finally, Truist Financial reduced their price objective on Sun Communities from $143.00 to $136.00 and set a “hold” rating for the company in a research note on Monday, March 18th.

Read Our Latest Research Report on SUI

Insiders Place Their Bets

In other Sun Communities news, Director Clunet R. Lewis sold 500 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $131.13, for a total value of $65,565.00. Following the completion of the sale, the director now directly owns 28,400 shares of the company’s stock, valued at approximately $3,724,092. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Craig Leupold sold 2,500 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $128.39, for a total transaction of $320,975.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Clunet R. Lewis sold 500 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $131.13, for a total value of $65,565.00. Following the transaction, the director now owns 28,400 shares of the company’s stock, valued at $3,724,092. The disclosure for this sale can be found here. Insiders sold 7,000 shares of company stock valued at $912,460 in the last three months. 1.89% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sun Communities

A number of hedge funds have recently modified their holdings of the business. Cetera Advisors LLC purchased a new position in Sun Communities during the 1st quarter valued at about $515,000. Swedbank AB purchased a new position in Sun Communities during the 1st quarter valued at about $13,660,000. Virtu Financial LLC purchased a new position in Sun Communities during the 1st quarter valued at about $1,106,000. Tidal Investments LLC boosted its holdings in Sun Communities by 9.4% during the 1st quarter. Tidal Investments LLC now owns 8,869 shares of the real estate investment trust’s stock valued at $1,129,000 after acquiring an additional 763 shares during the period. Finally, California State Teachers Retirement System boosted its holdings in Sun Communities by 0.5% during the 1st quarter. California State Teachers Retirement System now owns 196,038 shares of the real estate investment trust’s stock valued at $25,207,000 after acquiring an additional 986 shares during the period. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Sun Communities Trading Up 0.1 %

Shares of NYSE:SUI opened at $117.99 on Friday. Sun Communities has a 1 year low of $102.74 and a 1 year high of $141.52. The firm has a market capitalization of $14.71 billion, a price-to-earnings ratio of 101.72, a price-to-earnings-growth ratio of 1.04 and a beta of 0.83. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.78 and a quick ratio of 1.78. The business’s 50 day moving average price is $120.18 and its 200-day moving average price is $126.55.

Sun Communities Company Profile

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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.

Further Reading

Analyst Recommendations for Sun Communities (NYSE:SUI)

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