Sun Communities (NYSE:SUI) Rating Reiterated by JMP Securities

Sun Communities (NYSE:SUI)‘s stock had its “market outperform” rating reiterated by stock analysts at JMP Securities in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $150.00 target price on the real estate investment trust’s stock. JMP Securities’ price objective suggests a potential upside of 28.58% from the stock’s previous close.

Several other research analysts have also recently issued reports on SUI. Deutsche Bank Aktiengesellschaft started coverage on shares of Sun Communities in a report on Tuesday, January 30th. They set a “hold” rating and a $129.00 price target for the company. Truist Financial cut their price target on shares of Sun Communities from $143.00 to $136.00 and set a “hold” rating for the company in a report on Monday, March 18th. BMO Capital Markets dropped their target price on shares of Sun Communities from $143.00 to $140.00 and set an “outperform” rating for the company in a report on Monday, January 22nd. Royal Bank of Canada dropped their target price on shares of Sun Communities from $142.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Evercore ISI dropped their target price on shares of Sun Communities from $145.00 to $128.00 and set an “outperform” rating for the company in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $138.92.

Sun Communities Stock Performance

Shares of SUI traded up $3.88 during mid-day trading on Thursday, hitting $116.66. 560,824 shares of the company’s stock were exchanged, compared to its average volume of 813,625. Sun Communities has a fifty-two week low of $102.74 and a fifty-two week high of $141.52. The firm has a market capitalization of $14.54 billion, a P/E ratio of 100.41, a P/E/G ratio of 1.00 and a beta of 0.83. The business’s 50 day moving average is $126.11 and its two-hundred day moving average is $125.43. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.05.

Insider Transactions at Sun Communities

In related news, CEO Baxter Underwood sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $131.48, for a total transaction of $525,920.00. Following the sale, the chief executive officer now owns 66,852 shares in the company, valued at $8,789,700.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Baxter Underwood sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $131.48, for a total transaction of $525,920.00. Following the sale, the chief executive officer now owns 66,852 shares in the company, valued at $8,789,700.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Craig Leupold sold 2,500 shares of Sun Communities stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $128.39, for a total transaction of $320,975.00. The disclosure for this sale can be found here. Insiders sold a total of 7,000 shares of company stock valued at $912,460 in the last ninety days. Corporate insiders own 1.89% of the company’s stock.

Hedge Funds Weigh In On Sun Communities

Hedge funds have recently made changes to their positions in the business. Farmers & Merchants Investments Inc. purchased a new position in shares of Sun Communities in the 1st quarter valued at $26,000. Lindbrook Capital LLC boosted its holdings in shares of Sun Communities by 120.2% in the 3rd quarter. Lindbrook Capital LLC now owns 229 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 125 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Sun Communities in the 4th quarter valued at about $32,000. CKW Financial Group acquired a new position in shares of Sun Communities in the 1st quarter valued at about $38,000. Finally, Quest Partners LLC acquired a new position in Sun Communities during the 4th quarter valued at about $51,000. Hedge funds and other 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.