Sun Communities (NYSE:SUI) Coverage Initiated at Colliers Securities

Investment analysts at Colliers Securities began coverage on shares of Sun Communities (NYSE:SUI) in a note issued to investors on Friday,Briefing.com Automated Import reports. The brokerage set a “neutral” rating and a $130.00 price target on the real estate investment trust’s stock. Colliers Securities’ price objective indicates a potential upside of 3.34% from the stock’s previous close.

Several other brokerages have also issued reports on SUI. JMP Securities reissued a “market outperform” rating and issued a $140.00 target price on shares of Sun Communities in a research report on Tuesday, May 20th. Jefferies Financial Group assumed coverage on Sun Communities in a research report on Tuesday, April 8th. They set a “buy” rating and a $150.00 price objective for the company. Robert W. Baird reduced their target price on shares of Sun Communities from $128.00 to $126.00 and set a “neutral” rating on the stock in a research report on Thursday, May 8th. Bank of America increased their price target on shares of Sun Communities from $124.00 to $132.00 and gave the stock an “underperform” rating in a research note on Monday, May 12th. Finally, Barclays assumed coverage on shares of Sun Communities in a report on Thursday, May 29th. They issued an “overweight” rating and a $141.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Sun Communities currently has an average rating of “Hold” and a consensus price target of $138.33.

Sun Communities Price Performance

Shares of SUI stock opened at $125.80 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. Sun Communities has a fifty-two week low of $109.22 and a fifty-two week high of $147.83. The firm has a market cap of $16.06 billion, a P/E ratio of 67.63 and a beta of 0.86. The business’s 50 day moving average price is $123.01 and its 200-day moving average price is $125.41.

Sun Communities (NYSE:SUI) last issued its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.08. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The business had revenue of $470.20 million for the quarter, compared to the consensus estimate of $538.63 million. During the same period in the previous year, the firm earned $1.19 EPS. The company’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities research analysts anticipate that Sun Communities will post 6.77 earnings per share for the current year.

Insider Buying and Selling at Sun Communities

In related news, Director Jeff Blau bought 3,665 shares of the firm’s stock in a transaction on Friday, May 23rd. The stock was acquired at an average cost of $117.99 per share, for a total transaction of $432,433.35. Following the purchase, the director now owns 3,665 shares in the company, valued at approximately $432,433.35. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.77% of the company’s stock.

Institutional Trading of Sun Communities

A number of hedge funds have recently bought and sold shares of SUI. Smartleaf Asset Management LLC increased its position in shares of Sun Communities by 45.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 124 shares during the last quarter. Mutual of America Capital Management LLC raised its position in Sun Communities by 4.4% in the fourth quarter. Mutual of America Capital Management LLC now owns 18,451 shares of the real estate investment trust’s stock worth $2,269,000 after acquiring an additional 772 shares during the period. LPL Financial LLC grew its position in shares of Sun Communities by 22.3% during the 4th quarter. LPL Financial LLC now owns 25,560 shares of the real estate investment trust’s stock valued at $3,143,000 after acquiring an additional 4,665 shares during the period. Freestone Grove Partners LP purchased a new stake in shares of Sun Communities in the 4th quarter worth $716,000. Finally, Anson Funds Management LP purchased a new position in Sun Communities during the fourth quarter valued at $2,704,000. Hedge funds and other 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.