Sun Communities (NYSE:SUI) Upgraded by Truist Financial to Buy Rating

Sun Communities (NYSE:SUI) was upgraded by equities researchers at Truist Financial from a “hold” rating to a “buy” rating in a report issued on Friday, MarketBeat.com reports.

SUI has been the topic of a number of other reports. Evercore ISI upped their price target on Sun Communities from $149.00 to $150.00 and gave the company an “in-line” rating in a report on Monday, October 21st. Baird R W cut shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Bank of America lowered shares of Sun Communities from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $147.00 to $114.00 in a research note on Tuesday, November 12th. BMO Capital Markets lowered their price objective on shares of Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Finally, Robert W. Baird downgraded shares of Sun Communities from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $145.00 to $126.00 in a research report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Sun Communities presently has a consensus rating of “Hold” and a consensus price target of $135.69.

Sun Communities Stock Up 1.4 %

SUI stock traded up $1.73 during trading on Friday, hitting $125.44. 122,603 shares of the stock traded hands, compared to its average volume of 857,746. The stock has a market cap of $15.98 billion, a price-to-earnings ratio of 67.49, a price-to-earnings-growth ratio of 0.49 and a beta of 0.89. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. Sun Communities has a 1 year low of $110.98 and a 1 year high of $147.83. The firm’s 50 day moving average is $124.37 and its two-hundred day moving average is $129.10.

Sun Communities (NYSE:SUI) last announced its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.20). The firm had revenue of $939.90 million for the quarter, compared to the consensus estimate of $980.41 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. Sun Communities’s revenue was down 4.4% on a year-over-year basis. During the same period last year, the business earned $2.57 EPS. On average, sell-side analysts anticipate that Sun Communities will post 6.78 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Aurora Investment Managers LLC. increased its stake in Sun Communities by 9.7% in the 4th quarter. Aurora Investment Managers LLC. now owns 27,490 shares of the real estate investment trust’s stock worth $3,380,000 after buying an additional 2,435 shares in the last quarter. HB Wealth Management LLC grew its position in shares of Sun Communities by 4.2% during the fourth quarter. HB Wealth Management LLC now owns 5,183 shares of the real estate investment trust’s stock worth $637,000 after purchasing an additional 207 shares in the last quarter. Arkadios Wealth Advisors raised its stake in Sun Communities by 13.1% during the 4th quarter. Arkadios Wealth Advisors now owns 5,847 shares of the real estate investment trust’s stock valued at $719,000 after purchasing an additional 678 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Sun Communities by 8.5% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,069 shares of the real estate investment trust’s stock worth $131,000 after purchasing an additional 84 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its stake in Sun Communities by 4.4% in the 4th quarter. Park Avenue Securities LLC now owns 4,811 shares of the real estate investment trust’s stock worth $592,000 after purchasing an additional 203 shares during the period. 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.