Sun Communities (NYSE:SUI) Earns “Market Outperform” Rating from JMP Securities

Sun Communities (NYSE:SUI)‘s stock had its “market outperform” rating reaffirmed by equities research analysts at JMP Securities in a report issued on Tuesday, Benzinga reports. They presently have a $150.00 target price on the real estate investment trust’s stock. JMP Securities’ target price would indicate a potential upside of 25.74% from the stock’s current price.

SUI has been the subject of a number of other reports. Barclays lowered their price target on Sun Communities from $157.00 to $155.00 and set an “overweight” rating for the company in a research note on Friday, January 26th. Compass Point upped their price target on Sun Communities from $116.00 to $125.00 and gave the company a “neutral” rating in a research note on Thursday, March 21st. Truist Financial lowered their price target 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. BMO Capital Markets lowered their price target on Sun Communities from $143.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Sun Communities in a research note on Tuesday, January 30th. They issued a “hold” rating and a $129.00 price target for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $141.17.

Sun Communities Trading Up 0.8 %

NYSE:SUI traded up $1.00 on Tuesday, hitting $119.29. 71,094 shares of the stock were exchanged, compared to its average volume of 796,676. The stock has a market capitalization of $14.87 billion, a price-to-earnings ratio of 104.55, a P/E/G ratio of 7.53 and a beta of 0.80. Sun Communities has a 52 week low of $102.74 and a 52 week high of $141.52. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.66 and a current ratio of 1.66. The company’s 50-day moving average price is $127.74 and its 200 day moving average price is $125.22.

Insider Transactions at Sun Communities

In other news, Director Clunet R. Lewis sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $131.13, for a total transaction of $65,565.00. Following the sale, the director now owns 28,400 shares in the company, valued at approximately $3,724,092. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related 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 value of $320,975.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Clunet R. Lewis sold 500 shares of the stock in a transaction on Tuesday, March 5th. The shares were 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 owns 28,400 shares in the company, valued at approximately $3,724,092. The disclosure for this sale can be found here. Insiders have sold a total of 7,000 shares of company stock worth $912,460 in the last 90 days. Corporate insiders own 1.89% of the company’s stock.

Institutional Investors Weigh In On Sun Communities

A number of large investors have recently added to or reduced their stakes in SUI. AE Wealth Management LLC raised its stake in Sun Communities by 8.9% in the 3rd quarter. AE Wealth Management LLC now owns 3,171 shares of the real estate investment trust’s stock valued at $375,000 after acquiring an additional 259 shares during the period. SG Americas Securities LLC grew its holdings in shares of Sun Communities by 19.5% during the 3rd quarter. SG Americas Securities LLC now owns 10,361 shares of the real estate investment trust’s stock worth $1,226,000 after purchasing an additional 1,691 shares in the last quarter. Avior Wealth Management LLC boosted its stake in Sun Communities by 2.6% in the third quarter. Avior Wealth Management LLC now owns 3,727 shares of the real estate investment trust’s stock valued at $441,000 after buying an additional 96 shares in the last quarter. Presima Securities ULC boosted its stake in Sun Communities by 21.0% in the third quarter. Presima Securities ULC now owns 163,500 shares of the real estate investment trust’s stock valued at $19,349,000 after buying an additional 28,400 shares in the last quarter. Finally, Manning & Napier Group LLC boosted its stake in Sun Communities by 7.5% in the third quarter. Manning & Napier Group LLC now owns 110,031 shares of the real estate investment trust’s stock valued at $13,021,000 after buying an additional 7,641 shares in the last quarter. Institutional investors own 99.59% of the company’s stock.

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.