Wells Fargo & Company Forecasts Strong Price Appreciation for Sun Communities (NYSE:SUI) Stock

Sun Communities (NYSE:SUI) had its target price raised by investment analysts at Wells Fargo & Company from $132.00 to $133.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 5.37% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Jefferies Financial Group set a $142.00 price objective on shares of Sun Communities and gave the company a “buy” rating in a research report on Monday, November 3rd. Truist Financial raised their target price on shares of Sun Communities from $137.00 to $141.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Morgan Stanley set a $142.00 price target on shares of Sun Communities in a report on Thursday, September 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Sun Communities in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Sun Communities from a “sell” rating to a “hold” rating in a report on Sunday. Five analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $137.31.

Sun Communities Trading Down 0.3%

NYSE SUI traded down $0.40 during mid-day trading on Monday, reaching $126.23. 18,293 shares of the stock were exchanged, compared to its average volume of 864,527. The stock has a 50 day simple moving average of $126.38 and a 200-day simple moving average of $125.43. Sun Communities has a one year low of $109.22 and a one year high of $137.77. The company has a debt-to-equity ratio of 0.55, a current ratio of 7.08 and a quick ratio of 7.08. The stock has a market cap of $15.61 billion, a P/E ratio of 15.78, a P/E/G ratio of 4.05 and a beta of 0.86.

Sun Communities (NYSE:SUI) last issued its earnings results on Wednesday, October 29th. The real estate investment trust reported $2.28 EPS for the quarter, beating the consensus estimate 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 business posted $2.34 EPS. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. Sun Communities has set its Q4 2025 guidance at 1.310-1.390 EPS. FY 2025 guidance at 6.590-6.670 EPS. On average, analysts anticipate that Sun Communities will post 6.77 EPS for the current year.

Institutional Investors Weigh In On Sun Communities

Several hedge funds and other institutional investors have recently made changes to their positions in SUI. GAMMA Investing LLC increased its position in Sun Communities by 8.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,131 shares of the real estate investment trust’s stock valued at $143,000 after acquiring an additional 84 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Sun Communities by 9.1% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,003 shares of the real estate investment trust’s stock valued at $127,000 after purchasing an additional 84 shares in the last quarter. Assetmark Inc. boosted its position in Sun Communities by 55.7% during the third quarter. Assetmark Inc. now owns 271 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 97 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Sun Communities by 0.4% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 27,108 shares of the real estate investment trust’s stock valued at $3,487,000 after purchasing an additional 100 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Sun Communities by 4.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,504 shares of the real estate investment trust’s stock valued at $322,000 after buying an additional 102 shares in the last quarter. Institutional investors and hedge funds 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.