Sun Communities (NYSE:SUI) Price Target Cut to $138.00 by Analysts at BMO Capital Markets

Sun Communities (NYSE:SUI) had its price target cut by analysts at BMO Capital Markets from $145.00 to $138.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the real estate investment trust’s stock. BMO Capital Markets’ target price suggests a potential upside of 12.33% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Robert W. Baird cut shares of Sun Communities from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $145.00 to $126.00 in a research note on Thursday. StockNews.com cut shares of Sun Communities from a “hold” rating to a “sell” rating in a report on Friday, October 18th. Jefferies Financial Group initiated coverage on shares of Sun Communities in a report on Thursday, October 17th. They issued a “buy” rating and a $160.00 target price on the stock. Royal Bank of Canada upped their price objective on shares of Sun Communities from $131.00 to $137.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, Evercore ISI boosted their target price on Sun Communities from $149.00 to $150.00 and gave the company an “in-line” rating in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $141.82.

Sun Communities Price Performance

Sun Communities stock traded down $8.91 during mid-day trading on Thursday, hitting $122.85. 3,296,305 shares of the company were exchanged, compared to its average volume of 817,802. Sun Communities has a 1-year low of $110.98 and a 1-year high of $147.83. The company has a market capitalization of $15.32 billion, a PE ratio of 141.28, a price-to-earnings-growth ratio of 0.95 and a beta of 0.91. The business has a fifty day moving average of $135.71 and a 200 day moving average of $126.78. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.09.

Hedge Funds Weigh In On Sun Communities

Hedge funds have recently modified their holdings of the stock. Assetmark Inc. boosted its position in Sun Communities by 2,111.1% during the third quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 190 shares during the last quarter. Quest Partners LLC grew its stake in shares of Sun Communities by 12,700.0% in the second quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 381 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in Sun Communities in the second quarter valued at $62,000. Farther Finance Advisors LLC lifted its stake in Sun Communities by 89.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock valued at $68,000 after purchasing an additional 236 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Sun Communities by 230.7% in the third quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock valued at $84,000 after buying an additional 436 shares during the last quarter. Institutional investors 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.