Sun Communities (NYSE:SUI) PT Set at $135.00 by Deutsche Bank Aktiengesellschaft

Sun Communities (NYSE:SUI) has been assigned a $135.00 price objective by investment analysts at Deutsche Bank Aktiengesellschaft in a note issued to investors on Wednesday, MarketBeat.com reports. The firm currently has a “hold” rating on the real estate investment trust’s stock. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 6.28% from the company’s current price.

Several other research firms have also weighed in on SUI. Truist Financial set a $137.00 price objective on shares of Sun Communities and gave the stock a “buy” rating in a research note on Tuesday, June 3rd. Royal Bank Of Canada cut their target price on shares of Sun Communities from $154.00 to $147.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. Jefferies Financial Group began coverage on shares of Sun Communities in a report on Tuesday, April 8th. They issued a “buy” rating and a $150.00 price target for the company. Barclays initiated coverage on shares of Sun Communities in a research report on Thursday, May 29th. They issued an “overweight” rating and a $141.00 price objective for the company. Finally, Bank of America lifted their target price on Sun Communities from $124.00 to $132.00 and gave the stock an “underperform” rating in a report on Monday, May 12th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $138.08.

Sun Communities Stock Down 0.8%

NYSE:SUI opened at $127.02 on Wednesday. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 1.01. Sun Communities has a 12-month low of $109.22 and a 12-month high of $147.83. The stock’s fifty day simple moving average is $124.08 and its 200-day simple moving average is $125.34. The firm has a market capitalization of $16.21 billion, a P/E ratio of 204.87, a P/E/G ratio of 8.72 and a beta of 0.86.

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

Insider Activity

In other news, Director Jeff Blau acquired 3,665 shares of the firm’s stock in a transaction that occurred on Friday, May 23rd. The stock was acquired 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 $432,433.35. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.77% of the company’s stock.

Institutional Investors Weigh In On Sun Communities

Several institutional investors have recently bought and sold shares of the company. Norges Bank bought a new position in shares of Sun Communities during the 4th quarter worth approximately $888,783,000. Dodge & Cox boosted its holdings in Sun Communities by 42.1% during the first 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% in the fourth quarter. Cohen & Steers Inc. now owns 16,373,446 shares of the real estate investment trust’s stock valued at $2,013,414,000 after purchasing an additional 3,811,528 shares in the last quarter. FMR LLC increased its stake in Sun Communities by 51.3% in the 4th quarter. FMR LLC now owns 7,917,870 shares of the real estate investment trust’s stock valued at $973,660,000 after buying an additional 2,684,214 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Sun Communities by 19.7% in the 4th 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 buying an additional 911,857 shares during the last quarter. Institutional investors own 99.59% of the company’s stock.

About Sun Communities

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.