Jefferies Financial Group Has Lowered Expectations for Sun Communities (NYSE:SUI) Stock Price

Sun Communities (NYSE:SUI) had its price target dropped by analysts at Jefferies Financial Group from $145.00 to $142.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 15.43% from the stock’s previous close.

SUI has been the subject of a number of other research reports. Evercore ISI raised their price objective on Sun Communities from $149.00 to $150.00 and gave the company an “in-line” rating in a research report on Monday, October 21st. UBS Group downgraded Sun Communities from a “buy” rating to a “neutral” rating and reduced their price target for the company from $155.00 to $134.00 in a report on Thursday, November 14th. Wells Fargo & Company dropped their price target 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. StockNews.com lowered shares of Sun Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Finally, Robert W. Baird downgraded shares of Sun Communities from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $145.00 to $126.00 in a research note 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 company. According to MarketBeat, Sun Communities currently has an average rating of “Hold” and an average price target of $135.69.

Sun Communities Stock Up 0.0 %

Sun Communities stock traded up $0.05 on Thursday, hitting $123.02. 131,205 shares of the stock traded hands, compared to its average volume of 832,894. The business’s fifty day simple moving average is $126.44 and its 200 day simple moving average is $128.79. The firm has a market cap of $15.67 billion, a P/E ratio of 66.14, a price-to-earnings-growth ratio of 0.51 and a beta of 0.88. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. Sun Communities has a 1 year low of $110.98 and a 1 year high of $147.83.

Sun Communities (NYSE:SUI) last issued its quarterly 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 for the quarter, compared to analysts’ expectations of $980.41 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The company’s revenue was down 4.4% on a year-over-year basis. During the same period last year, the business earned $2.57 earnings per share. As a group, sell-side analysts forecast that Sun Communities will post 6.78 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SUI. FMR LLC grew its stake in shares of Sun Communities by 37.6% during the 3rd quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust’s stock valued at $707,329,000 after purchasing an additional 1,430,630 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position 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 during the period. Daiwa Securities Group Inc. grew its position in Sun Communities by 24.0% during the second quarter. Daiwa Securities Group Inc. now owns 2,195,884 shares of the real estate investment trust’s stock valued at $264,253,000 after buying an additional 424,842 shares during the period. Westfield Capital Management Co. LP increased its holdings in Sun Communities by 58.8% during the third quarter. Westfield Capital Management Co. LP now owns 959,879 shares of the real estate investment trust’s stock valued at $129,728,000 after buying an additional 355,427 shares during the last quarter. Finally, Adelante Capital Management LLC raised its position in Sun Communities by 168.7% in the third quarter. Adelante Capital Management LLC now owns 559,129 shares of the real estate investment trust’s stock worth $75,566,000 after acquiring an additional 351,017 shares during the period. 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.