Sun Communities (NYSE:SUI) Rating Lowered to “Sell” at Wall Street Zen

Sun Communities (NYSE:SUI) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Several other research firms have also recently commented on SUI. Barclays assumed coverage on shares of Sun Communities in a research note on Thursday, May 29th. They set an “overweight” rating and a $141.00 price target on the stock. Jefferies Financial Group assumed coverage on shares of Sun Communities in a research note on Tuesday, April 8th. They set a “buy” rating and a $150.00 price target on the stock. Royal Bank Of Canada decreased their price target on shares of Sun Communities from $154.00 to $147.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th. Colliers Securities assumed coverage on shares of Sun Communities in a research note on Friday, June 13th. They set a “neutral” rating and a $130.00 price target on the stock. Finally, Bank of America increased their price target on shares of Sun Communities from $124.00 to $132.00 and gave the company an “underperform” rating in a research note on Monday, May 12th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $138.33.

Sun Communities Stock Performance

NYSE:SUI opened at $126.09 on Friday. Sun Communities has a 12-month low of $109.22 and a 12-month high of $147.83. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $16.09 billion, a PE ratio of 203.37, a price-to-earnings-growth ratio of 8.58 and a beta of 0.86. The firm has a 50-day moving average price of $123.75 and a 200 day moving average price of $125.30.

Sun Communities (NYSE:SUI) last posted its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.08. The company had revenue of $470.20 million during the quarter, compared to analyst estimates of $538.63 million. Sun Communities had a net margin of 2.85% and a return on equity of 1.41%. The company’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the business posted $1.19 earnings per share. Research analysts anticipate that Sun Communities will post 6.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jeff Blau bought 3,665 shares of the business’s stock in a transaction on Friday, May 23rd. The shares were bought at an average cost of $117.99 per share, for a total transaction of $432,433.35. Following the completion of the acquisition, the director now owns 3,665 shares in the company, valued at approximately $432,433.35. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.77% of the company’s stock.

Institutional Investors Weigh In On Sun Communities

Several hedge funds have recently bought and sold shares of SUI. Smartleaf Asset Management LLC raised its holdings in shares of Sun Communities by 45.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 124 shares during the period. Mutual of America Capital Management LLC raised its holdings in shares of Sun Communities by 4.4% during the fourth quarter. Mutual of America Capital Management LLC now owns 18,451 shares of the real estate investment trust’s stock worth $2,269,000 after acquiring an additional 772 shares during the period. LPL Financial LLC raised its holdings in shares of Sun Communities by 22.3% during the fourth quarter. LPL Financial LLC now owns 25,560 shares of the real estate investment trust’s stock worth $3,143,000 after acquiring an additional 4,665 shares during the period. Freestone Grove Partners LP acquired a new stake in shares of Sun Communities during the fourth quarter worth $716,000. Finally, Anson Funds Management LP acquired a new stake in shares of Sun Communities during the fourth quarter worth $2,704,000. 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.