Sun Communities (NYSE:SUI) Given New $142.00 Price Target at Truist Financial

Sun Communities (NYSE:SUI) had its price objective upped by Truist Financial from $141.00 to $142.00 in a research report released on Tuesday morning,Benzinga reports. Truist Financial currently has a buy rating on the real estate investment trust’s stock.

Several other equities analysts also recently commented on SUI. Weiss Ratings reiterated a “hold (c)” rating on shares of Sun Communities in a report on Wednesday, October 8th. Robert W. Baird upped their target price on Sun Communities from $126.00 to $134.00 and gave the company a “neutral” rating in a research note on Monday, August 11th. Royal Bank Of Canada increased their price target on Sun Communities from $142.00 to $143.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Jefferies Financial Group set a $142.00 price objective on Sun Communities and gave the company a “buy” rating in a report on Monday, November 3rd. Finally, Wall Street Zen upgraded Sun Communities from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $137.67.

Sun Communities Stock Performance

NYSE SUI opened at $125.58 on Tuesday. The business’s 50 day moving average price is $126.16 and its 200-day moving average price is $125.48. Sun Communities has a fifty-two week low of $109.22 and a fifty-two week high of $137.77. The company has a market cap of $15.53 billion, a P/E ratio of 15.74, a P/E/G ratio of 4.05 and a beta of 0.86. The company has a debt-to-equity ratio of 0.55, a quick ratio of 7.08 and a current ratio of 7.08.

Sun Communities (NYSE:SUI) last issued its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $2.28 earnings per share (EPS) for the quarter, topping 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 company had revenue of $697.20 million during the quarter, compared to the consensus estimate of $713.32 million. During the same period last year, the company earned $2.34 earnings per share. Sun Communities’s revenue 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 predict that Sun Communities will post 6.77 earnings per share for the current year.

Sun Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $4.16 dividend on an annualized basis and a yield of 3.3%. Sun Communities’s payout ratio is 52.13%.

Insider Buying and Selling at Sun Communities

In other news, Director Clunet R. Lewis sold 4,000 shares of the stock in a transaction on Monday, November 10th. The stock was sold at an average price of $126.24, for a total transaction of $504,960.00. Following the transaction, the director owned 26,000 shares of the company’s stock, valued at approximately $3,282,240. This represents a 13.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.89% of the company’s stock.

Institutional Trading of Sun Communities

A number of hedge funds have recently added to or reduced their stakes in the business. Versor Investments LP grew its holdings in Sun Communities by 92.5% during the first quarter. Versor Investments LP now owns 6,545 shares of the real estate investment trust’s stock worth $842,000 after acquiring an additional 3,145 shares during the period. Aew Capital Management L P lifted its holdings in Sun Communities by 7.2% in the second quarter. Aew Capital Management L P now owns 205,190 shares of the real estate investment trust’s stock valued at $25,954,000 after acquiring an additional 13,730 shares during the period. Deutsche Bank AG lifted its holdings in Sun Communities by 103.7% in the first 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 period. American National Bank & Trust purchased a new stake in Sun Communities in the 2nd quarter worth approximately $759,000. Finally, GAMMA Investing LLC grew its stake in shares of Sun Communities by 8.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,131 shares of the real estate investment trust’s stock worth $143,000 after purchasing an additional 84 shares during the period. 99.59% of the stock is owned by hedge funds and other institutional investors.

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.