Sun Communities’ (SUI) Market Outperform Rating Reiterated at JMP Securities

Sun Communities (NYSE:SUI)‘s stock had its “market outperform” rating reiterated by equities researchers at JMP Securities in a report issued on Tuesday, Benzinga reports. They presently have a $150.00 target price on the real estate investment trust’s stock. JMP Securities’ target price suggests a potential upside of 24.69% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Barclays reduced their target price on shares of Sun Communities from $157.00 to $155.00 and set an “overweight” rating for the company in a research report on Friday, January 26th. Deutsche Bank Aktiengesellschaft began coverage on shares of Sun Communities in a research report on Tuesday, January 30th. They set a “hold” rating and a $129.00 price objective for the company. Compass Point upped their price objective on shares of Sun Communities from $116.00 to $125.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st. Truist Financial cut their price objective on shares of Sun Communities from $143.00 to $136.00 and set a “hold” rating for the company in a research report on Monday, March 18th. Finally, BMO Capital Markets cut their price objective on shares of Sun Communities from $143.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday, January 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $141.17.

Sun Communities Trading Up 0.2 %

Shares of Sun Communities stock opened at $120.30 on Tuesday. The firm has a 50-day moving average of $127.51 and a 200-day moving average of $125.20. The stock has a market cap of $14.99 billion, a PE ratio of 105.53, a PEG ratio of 7.57 and a beta of 0.80. Sun Communities has a 52-week low of $102.74 and a 52-week high of $141.52. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.66 and a current ratio of 1.66.

Insider Transactions at Sun Communities

In other news, CEO Baxter Underwood sold 4,000 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $131.48, for a total value of $525,920.00. Following the completion of the transaction, the chief executive officer now owns 66,852 shares of the company’s stock, valued at $8,789,700.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Baxter Underwood sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $131.48, for a total value of $525,920.00. Following the completion of the transaction, the chief executive officer now owns 66,852 shares of the company’s stock, valued at $8,789,700.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Craig Leupold sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $128.39, for a total value of $320,975.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,000 shares of company stock valued at $912,460. 1.89% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SUI. Farmers & Merchants Investments Inc. acquired a new stake in Sun Communities during the 1st quarter valued at approximately $26,000. Lindbrook Capital LLC increased its position in Sun Communities by 120.2% during the 3rd quarter. Lindbrook Capital LLC now owns 229 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 125 shares during the period. V Square Quantitative Management LLC acquired a new stake in Sun Communities during the 4th quarter valued at approximately $32,000. CKW Financial Group acquired a new stake in Sun Communities during the 1st quarter valued at approximately $38,000. Finally, Quest Partners LLC acquired a new stake in Sun Communities during the 4th quarter valued at approximately $51,000. Institutional investors and hedge funds 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.