StockNews.com Upgrades Sun Communities (NYSE:SUI) to “Hold”

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

Other research analysts have also recently issued reports about the stock. Evercore ISI dropped their target price on shares of Sun Communities from $145.00 to $128.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. JMP Securities reaffirmed a “market outperform” rating and issued a $150.00 price objective on shares of Sun Communities in a research note on Thursday, May 2nd. Finally, Royal Bank of Canada decreased their target price on Sun Communities from $142.00 to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $134.40.

Sun Communities Price Performance

Shares of NYSE SUI traded up $6.47 during trading on Thursday, hitting $133.20. 1,089,979 shares of the company were exchanged, compared to its average volume of 743,556. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.78 and a quick ratio of 1.78. Sun Communities has a 1 year low of $102.74 and a 1 year high of $137.45. The company has a market cap of $16.60 billion, a price-to-earnings ratio of 114.83, a PEG ratio of 0.93 and a beta of 0.88. The firm’s fifty day moving average price is $120.04 and its 200 day moving average price is $123.48.

Institutional Investors Weigh In On Sun Communities

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bristlecone Advisors LLC boosted its position in Sun Communities by 2.4% during the second quarter. Bristlecone Advisors LLC now owns 3,655 shares of the real estate investment trust’s stock worth $440,000 after acquiring an additional 85 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Sun Communities by 0.3% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 29,808 shares of the real estate investment trust’s stock valued at $3,833,000 after acquiring an additional 100 shares during the last quarter. Yousif Capital Management LLC lifted its holdings in shares of Sun Communities by 1.7% during the 4th quarter. Yousif Capital Management LLC now owns 6,236 shares of the real estate investment trust’s stock worth $833,000 after acquiring an additional 105 shares during the period. US Bancorp DE boosted its position in shares of Sun Communities by 0.5% in the fourth quarter. US Bancorp DE now owns 20,541 shares of the real estate investment trust’s stock worth $2,745,000 after acquiring an additional 107 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. grew its holdings in Sun Communities by 5.9% in the first quarter. ZWJ Investment Counsel Inc. now owns 2,017 shares of the real estate investment trust’s stock valued at $259,000 after purchasing an additional 112 shares during the period. 99.59% of the stock is currently owned by hedge funds and other 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.