Sun Communities (NYSE:SUI) Research Coverage Started at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of Sun Communities (NYSE:SUI) in a research note issued on Thursday, Briefing.com reports. The brokerage set a “buy” rating and a $160.00 price target on the real estate investment trust’s stock. Jefferies Financial Group’s price target suggests a potential upside of 17.59% from the stock’s current price.

SUI has been the subject of several other reports. Evercore ISI cut Sun Communities from an “outperform” rating to an “inline” rating and increased their price target for the company from $144.00 to $149.00 in a research report on Monday, September 16th. Royal Bank of Canada increased their price target on Sun Communities from $131.00 to $137.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Wells Fargo & Company raised their price objective on Sun Communities from $123.00 to $154.00 and gave the company an “equal weight” rating in a research report on Thursday, September 19th. Robert W. Baird raised their price objective on Sun Communities from $144.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, September 3rd. Finally, Truist Financial raised their price objective on Sun Communities from $127.00 to $138.00 and gave the company a “hold” rating in a research report on Tuesday, August 13th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $143.82.

Sun Communities Stock Up 1.8 %

SUI stock opened at $136.07 on Thursday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a market capitalization of $16.96 billion, a P/E ratio of 158.22, a P/E/G ratio of 0.95 and a beta of 0.91. The business has a 50-day moving average of $135.04 and a 200-day moving average of $125.54. Sun Communities has a fifty-two week low of $102.74 and a fifty-two week high of $147.83.

Insider Buying and Selling at Sun Communities

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

Hedge Funds Weigh In On Sun Communities

Hedge funds and other institutional investors have recently modified their holdings of the business. Bristlecone Advisors LLC grew its position in Sun Communities by 2.4% during the 2nd 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. Toronto Dominion Bank grew its position in shares of Sun Communities by 0.8% in the 2nd quarter. Toronto Dominion Bank now owns 11,916 shares of the real estate investment trust’s stock valued at $1,434,000 after buying an additional 98 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Sun Communities by 15.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 762 shares of the real estate investment trust’s stock valued at $92,000 after buying an additional 102 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of Sun Communities by 1.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 7,034 shares of the real estate investment trust’s stock valued at $846,000 after buying an additional 115 shares during the last quarter. Finally, Fifth Third Bancorp grew its position in shares of Sun Communities by 2.8% in the 2nd quarter. Fifth Third Bancorp now owns 5,179 shares of the real estate investment trust’s stock valued at $623,000 after buying an additional 142 shares during the last quarter. Institutional investors own 99.59% of the company’s stock.

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.