Sun Communities (NYSE:SUI) Price Target Raised to $145.00 at Robert W. Baird

Sun Communities (NYSE:SUI) had its price target boosted by Robert W. Baird from $144.00 to $145.00 in a report published on Tuesday, Benzinga reports. They currently have an outperform rating on the real estate investment trust’s stock.

SUI has been the topic of a number of other research reports. StockNews.com downgraded Sun Communities from a hold rating to a sell rating in a research note on Friday, August 9th. Truist Financial boosted their price target on shares of Sun Communities from $127.00 to $138.00 and gave the stock a hold rating in a research report on Tuesday, August 13th. Evercore ISI raised their price objective on shares of Sun Communities from $143.00 to $144.00 and gave the company an outperform rating in a research report on Wednesday, August 28th. Finally, Royal Bank of Canada boosted their target price on shares of Sun Communities from $131.00 to $137.00 and gave the stock an outperform rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $137.64.

Sun Communities Trading Up 0.2 %

Sun Communities stock opened at $135.46 on Tuesday. The stock has a market capitalization of $16.89 billion, a PE ratio of 116.78, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.42 and a quick ratio of 1.42. Sun Communities has a 12-month low of $102.74 and a 12-month high of $137.45. The firm has a 50 day simple moving average of $126.75 and a 200-day simple moving average of $124.19.

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 on Monday, August 5th. The shares were 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 in the company, valued at approximately $8,340,810.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.89% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SUI. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Sun Communities by 15.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 762 shares of the real estate investment trust’s stock valued at $92,000 after acquiring an additional 102 shares during the period. Liberty Mutual Group Asset Management Inc. boosted its stake in Sun Communities by 5.3% in the second quarter. Liberty Mutual Group Asset Management Inc. now owns 33,293 shares of the real estate investment trust’s stock worth $4,006,000 after purchasing an additional 1,665 shares in the last quarter. Mackenzie Financial Corp grew its holdings in shares of Sun Communities by 118.2% during the second quarter. Mackenzie Financial Corp now owns 7,055 shares of the real estate investment trust’s stock worth $849,000 after purchasing an additional 3,821 shares during the last quarter. MBB Public Markets I LLC acquired a new stake in shares of Sun Communities in the second quarter valued at $1,083,000. Finally, Dark Forest Capital Management LP acquired a new position in shares of Sun Communities during the second quarter worth approximately $1,508,000. 99.59% of the stock is owned by 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.