StockNews.com Downgrades Sun Communities (NYSE:SUI) to Sell

Sun Communities (NYSE:SUI) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

Several other research analysts have also issued reports on SUI. Wells Fargo & Company upped their target price on shares of Sun Communities from $123.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 19th. UBS Group lowered Sun Communities from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $155.00 to $134.00 in a research report on Thursday, November 14th. Royal Bank of Canada dropped their target price on Sun Communities from $147.00 to $135.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. BMO Capital Markets reduced their price target 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, Evercore ISI upped their price objective on shares of Sun Communities from $149.00 to $150.00 and gave the company an “in-line” rating in a research note on Monday, October 21st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Sun Communities has a consensus rating of “Hold” and an average target price of $139.08.

Sun Communities Stock Performance

Shares of SUI opened at $126.61 on Wednesday. The stock’s 50-day simple moving average is $133.84 and its 200 day simple moving average is $127.27. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. The stock has a market capitalization of $16.13 billion, a price-to-earnings ratio of 68.07, a price-to-earnings-growth ratio of 0.53 and a beta of 0.91. Sun Communities has a 52-week low of $110.98 and a 52-week high of $147.83.

Sun Communities (NYSE:SUI) last posted its quarterly earnings data 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). Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The company had revenue of $939.90 million during the quarter, compared to the consensus estimate of $980.41 million. During the same quarter last year, the company posted $2.57 earnings per share. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. Research analysts forecast that Sun Communities will post 6.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SUI. FMR LLC increased its stake in shares of Sun Communities by 37.6% during the third quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust’s stock valued at $707,329,000 after buying an additional 1,430,630 shares during the period. Price T Rowe Associates Inc. MD increased its position in Sun Communities by 50.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,302,804 shares of the real estate investment trust’s stock valued at $424,677,000 after purchasing an additional 1,105,306 shares during the period. Massachusetts Financial Services Co. MA increased its position in Sun Communities by 3.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,949,862 shares of the real estate investment trust’s stock valued at $354,986,000 after purchasing an additional 111,569 shares during the period. Daiwa Securities Group Inc. lifted its position in shares of Sun Communities by 24.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 2,195,884 shares of the real estate investment trust’s stock worth $264,253,000 after purchasing an additional 424,842 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Sun Communities by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,784,547 shares of the real estate investment trust’s stock worth $214,752,000 after purchasing an additional 10,592 shares during the period. 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.