Sun Communities (NYSE:SUI) Stock Rating Lowered by Wall Street Zen

Sun Communities (NYSE:SUI) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

A number of other research analysts have also weighed in on SUI. Bank of America boosted 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. Royal Bank Of Canada decreased their target price on Sun Communities from $154.00 to $147.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. Barclays started coverage on Sun Communities in a report on Thursday, May 29th. They set an “overweight” rating and a $141.00 target price on the stock. JMP Securities restated a “market outperform” rating and issued a $140.00 price target on shares of Sun Communities in a research note on Tuesday, May 20th. Finally, Robert W. Baird reduced their price target on Sun Communities from $128.00 to $126.00 and set a “neutral” rating for the company in a research note on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $138.33.

Sun Communities Stock Up 0.1%

NYSE:SUI opened at $126.09 on Friday. 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 price-to-earnings ratio of 203.37, a price-to-earnings-growth ratio of 8.59 and a beta of 0.86. Sun Communities has a twelve month low of $109.22 and a twelve month high of $147.83. The stock’s 50 day moving average price is $123.75 and its two-hundred day moving average price is $125.28.

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

Insider Activity

In related news, Director Jeff Blau bought 3,665 shares of the business’s stock in a transaction dated Friday, May 23rd. The stock was purchased at an average cost of $117.99 per share, for a total transaction of $432,433.35. Following the transaction, the director now owns 3,665 shares in the company, valued at $432,433.35. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.89% of the company’s stock.

Institutional Trading of Sun Communities

A number of institutional investors have recently modified their holdings of SUI. Voya Investment Management LLC lifted its position in shares of Sun Communities by 4.9% during the 1st quarter. Voya Investment Management LLC now owns 15,740 shares of the real estate investment trust’s stock worth $2,025,000 after buying an additional 742 shares during the last quarter. Nicola Wealth Management LTD. lifted its position in shares of Sun Communities by 26.5% during the 1st quarter. Nicola Wealth Management LTD. now owns 10,984 shares of the real estate investment trust’s stock worth $1,413,000 after buying an additional 2,300 shares during the last quarter. First Hawaiian Bank lifted its position in shares of Sun Communities by 25.3% during the 1st quarter. First Hawaiian Bank now owns 28,125 shares of the real estate investment trust’s stock worth $3,618,000 after buying an additional 5,685 shares during the last quarter. Inspire Investing LLC lifted its position in shares of Sun Communities by 5.7% during the 1st quarter. Inspire Investing LLC now owns 14,129 shares of the real estate investment trust’s stock worth $1,818,000 after buying an additional 761 shares during the last quarter. Finally, Anson Funds Management LP lifted its position in shares of Sun Communities by 67.9% during the 1st quarter. Anson Funds Management LP now owns 36,920 shares of the real estate investment trust’s stock worth $4,749,000 after buying an additional 14,930 shares during the last quarter. 99.59% of the stock is currently owned by 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.