Sun Communities (NYSE:SUI) Price Target Raised to $138.00 at Evercore ISI

Sun Communities (NYSE:SUI) had its target price upped by stock analysts at Evercore ISI from $136.00 to $138.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s price target would indicate a potential upside of 6.13% from the company’s current price.

Several other equities research analysts also recently commented on the company. Truist Financial raised their target price on Sun Communities from $137.00 to $141.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Wall Street Zen upgraded shares of Sun Communities from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. JMP Securities reissued a “market outperform” rating and set a $140.00 target price on shares of Sun Communities in a research report on Tuesday, May 20th. Morgan Stanley set a $142.00 price objective on shares of Sun Communities in a report on Thursday, September 4th. Finally, Robert W. Baird raised 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. Six research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Sun Communities presently has an average rating of “Hold” and a consensus price target of $137.86.

Sun Communities Trading Up 0.0%

Shares of Sun Communities stock traded up $0.03 during trading hours on Monday, hitting $130.03. The company’s stock had a trading volume of 44,366 shares, compared to its average volume of 871,360. The business has a fifty day moving average of $125.77 and a 200 day moving average of $125.74. Sun Communities has a 1-year low of $109.22 and a 1-year high of $147.50. 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 company has a market capitalization of $16.27 billion, a PE ratio of 12.72, a P/E/G ratio of 6.71 and a beta of 0.86.

Sun Communities (NYSE:SUI) last posted its earnings results on Wednesday, July 30th. The real estate investment trust reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.09. Sun Communities had a net margin of 48.86% and a negative return on equity of 0.60%. The business had revenue of $623.50 million for the quarter, compared to analyst estimates of $614.79 million. During the same quarter in the previous year, the business posted $1.86 EPS. Sun Communities has set its FY 2025 guidance at 6.510-6.670 EPS. Q3 2025 guidance at 2.130-2.230 EPS. As a group, equities analysts forecast that Sun Communities will post 6.77 EPS for the current year.

Hedge Funds Weigh In On Sun Communities

Several large investors have recently bought and sold shares of the stock. Captrust Financial Advisors lifted its stake in shares of Sun Communities by 3.7% in the 4th quarter. Captrust Financial Advisors now owns 3,627 shares of the real estate investment trust’s stock worth $446,000 after acquiring an additional 128 shares during the period. Janus Henderson Group PLC raised its holdings in Sun Communities by 5.3% during the fourth quarter. Janus Henderson Group PLC now owns 27,936 shares of the real estate investment trust’s stock worth $3,435,000 after purchasing an additional 1,400 shares in the last quarter. OMERS ADMINISTRATION Corp lifted its position in Sun Communities by 20.7% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 5,239 shares of the real estate investment trust’s stock worth $644,000 after purchasing an additional 898 shares during the period. Quantinno Capital Management LP increased its position in shares of Sun Communities by 12.4% during the 4th quarter. Quantinno Capital Management LP now owns 8,650 shares of the real estate investment trust’s stock valued at $1,064,000 after purchasing an additional 955 shares during the period. Finally, Snowden Capital Advisors LLC raised its stake in shares of Sun Communities by 10.6% in the 4th quarter. Snowden Capital Advisors LLC now owns 2,429 shares of the real estate investment trust’s stock worth $301,000 after buying an additional 232 shares in the last quarter. Institutional investors and hedge funds 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.