Sun Communities (NYSE:SUI) Stock Rating Lowered by StockNews.com

Sun Communities (NYSE:SUI) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

Several other equities analysts have also recently weighed in on the company. BMO Capital Markets lowered their price target on Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Baird R W downgraded Sun Communities from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Robert W. Baird cut 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 report on Thursday, November 7th. Bank of America lowered shares of Sun Communities from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $147.00 to $114.00 in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company raised their price objective on shares of Sun Communities from $123.00 to $154.00 and gave the stock an “equal weight” rating in a report on Thursday, September 19th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $139.08.

Sun Communities Price Performance

Shares of NYSE:SUI opened at $128.52 on Wednesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. The firm has a market cap of $16.37 billion, a price-to-earnings ratio of 68.68, a price-to-earnings-growth ratio of 0.53 and a beta of 0.91. The business has a 50-day simple moving average of $133.24 and a two-hundred day simple moving average of $127.33. Sun Communities has a fifty-two week low of $110.98 and a fifty-two week high of $147.83.

Sun Communities (NYSE:SUI) last released its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.20). The company 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 firm’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.57 earnings per share. On average, analysts expect that Sun Communities will post 6.78 earnings per share for the current year.

Institutional Investors Weigh In On Sun Communities

A number of institutional investors have recently bought and sold shares of the business. FMR LLC boosted its stake in shares of Sun Communities by 37.6% in the third quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust’s stock worth $707,329,000 after acquiring an additional 1,430,630 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Sun Communities by 50.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,302,804 shares of the real estate investment trust’s stock worth $424,677,000 after purchasing an additional 1,105,306 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Sun Communities by 3.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,949,862 shares of the real estate investment trust’s stock valued at $354,986,000 after buying an additional 111,569 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of 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 last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Sun Communities by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,784,547 shares of the real estate investment trust’s stock valued at $214,752,000 after buying an additional 10,592 shares during the last quarter. Hedge funds and other 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.