Jefferies Financial Group Lowers Sun Communities (NYSE:SUI) Price Target to $142.00

Sun Communities (NYSE:SUI) had its price target lowered by stock analysts at Jefferies Financial Group from $145.00 to $142.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 13.86% from the stock’s current price.

A number of other research analysts also recently commented on the stock. Wells Fargo & Company reduced their price objective on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th. Bank of America cut 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 report on Tuesday, November 12th. StockNews.com lowered Sun Communities from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Baird R W downgraded Sun Communities from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Robert W. Baird lowered Sun Communities from an “outperform” rating to a “neutral” rating and decreased 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, eight have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Sun Communities presently has an average rating of “Hold” and a consensus price target of $135.69.

Sun Communities Trading Up 1.9 %

NYSE:SUI opened at $124.72 on Thursday. The stock has a market cap of $15.89 billion, a price-to-earnings ratio of 67.05, a price-to-earnings-growth ratio of 0.51 and a beta of 0.88. Sun Communities has a one year low of $110.98 and a one year high of $147.83. 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 business’s 50-day simple moving average is $125.95 and its 200 day simple moving average is $128.81.

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

Institutional Investors Weigh In On Sun Communities

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC boosted its holdings in shares of Sun Communities by 37.6% in 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 acquiring an additional 1,430,630 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of 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. raised its stake 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 buying an additional 424,842 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Sun Communities by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,784,547 shares of the real estate investment trust’s stock valued at $214,752,000 after buying an additional 10,592 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Sun Communities by 1,061.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,323,479 shares of the real estate investment trust’s stock valued at $178,868,000 after buying an additional 1,209,522 shares in the last quarter. 99.59% of the stock is currently owned by institutional investors.

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.