Sun Communities (NYSE:SUI) Downgraded by Wall Street Zen to Sell

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 note issued to investors on Saturday.

Several other research firms have also recently weighed in on SUI. Robert W. Baird boosted their price target on Sun Communities from $126.00 to $134.00 and gave the stock a “neutral” rating in a report on Monday, August 11th. Royal Bank Of Canada reduced their target price on Sun Communities from $147.00 to $143.00 and set an “outperform” rating on the stock in a report on Friday, August 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Sun Communities in a research note on Wednesday, October 8th. Wells Fargo & Company dropped their price target on Sun Communities from $135.00 to $132.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 27th. Finally, Jefferies Financial Group upgraded Sun Communities to a “strong-buy” rating in a report on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $137.86.

Sun Communities Stock Up 3.0%

SUI stock opened at $126.52 on Friday. Sun Communities has a 52 week low of $109.22 and a 52 week high of $137.77. The company has a quick ratio of 7.08, a current ratio of 7.08 and a debt-to-equity ratio of 0.55. The business has a 50-day simple moving average of $126.47 and a 200 day simple moving average of $125.29. The company has a market cap of $15.83 billion, a PE ratio of 15.85, a price-to-earnings-growth ratio of 4.05 and a beta of 0.86.

Sun Communities (NYSE:SUI) last released its earnings results on Wednesday, October 29th. The real estate investment trust reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.10. Sun Communities had a negative return on equity of 4.51% and a net margin of 42.58%.The firm had revenue of $697.20 million for the quarter, compared to analysts’ expectations of $713.32 million. During the same quarter in the previous year, the business posted $2.34 earnings per share. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. Sun Communities has set its Q4 2025 guidance at 1.310-1.390 EPS. FY 2025 guidance at 6.590-6.670 EPS. Sell-side analysts anticipate that Sun Communities will post 6.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Sun Communities

Large investors have recently made changes to their positions in the business. Norges Bank purchased a new stake in Sun Communities in the 2nd quarter worth about $925,926,000. Dodge & Cox boosted its stake in Sun Communities by 42.1% in 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 period. Nuveen LLC bought a new stake in shares of Sun Communities during the 1st quarter valued at about $112,395,000. Deutsche Bank AG boosted its position in shares of Sun Communities by 103.7% during the 1st quarter. Deutsche Bank AG now owns 1,611,425 shares of the real estate investment trust’s stock valued at $207,294,000 after acquiring an additional 820,422 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Sun Communities by 10.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,118,054 shares of the real estate investment trust’s stock valued at $787,029,000 after acquiring an additional 568,514 shares during the last quarter. 99.59% of the stock is owned by hedge funds and other institutional investors.

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.