Sun Communities (NYSE:SUI) Stock Rating Upgraded by UBS Group

Sun Communities (NYSE:SUI) was upgraded by investment analysts at UBS Group to a “strong-buy” rating in a research report issued on Thursday, Zacks.com reports.

Other research analysts have also recently issued research reports about the company. Robert W. Baird increased their price objective on Sun Communities from $144.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 3rd. Evercore ISI cut shares of Sun Communities from an “outperform” rating to an “inline” rating and raised their price objective for the company from $144.00 to $149.00 in a research note on Monday, September 16th. Royal Bank of Canada increased their target price on shares of Sun Communities from $131.00 to $137.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. StockNews.com upgraded shares of Sun Communities from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Wells Fargo & Company upped their price target on Sun Communities from $123.00 to $154.00 and gave the stock an “equal weight” rating in a report on Thursday, September 19th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Sun Communities presently has a consensus rating of “Moderate Buy” and an average target price of $142.20.

Sun Communities Price Performance

Shares of SUI opened at $129.78 on Thursday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.09. The stock’s 50 day moving average is $134.84 and its two-hundred day moving average is $125.43. Sun Communities has a twelve month low of $102.74 and a twelve month high of $147.83. The firm has a market capitalization of $16.18 billion, a PE ratio of 150.90, a P/E/G ratio of 0.93 and a beta of 0.91.

Insider Activity at Sun Communities

In other Sun Communities news, CEO Baxter Underwood sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $131.43, for a total value of $394,290.00. Following the sale, the chief executive officer now directly owns 63,462 shares of the company’s stock, valued at approximately $8,340,810.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.89% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Farmers & Merchants Investments Inc. purchased a new position in shares of Sun Communities in the 1st quarter valued at $26,000. V Square Quantitative Management LLC purchased a new stake in shares of Sun Communities in the fourth quarter worth about $32,000. Quest Partners LLC grew its stake in shares of Sun Communities by 12,700.0% in the second quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 381 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of Sun Communities during the 2nd quarter valued at about $62,000. Finally, Fidelis Capital Partners LLC acquired a new position in Sun Communities during the 1st quarter worth approximately $83,000. 99.59% of the stock is owned by hedge funds and other institutional investors.

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.