Jefferies Financial Group Lowers Sun Communities (NYSE:SUI) Price Target to $142.00

Sun Communities (NYSE:SUI) had its price objective decreased by equities researchers at Jefferies Financial Group from $145.00 to $142.00 in a research note issued to investors 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 would suggest a potential upside of 13.86% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Wells Fargo & Company reduced their target price on 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. Evercore ISI raised their target price on shares of Sun Communities from $149.00 to $150.00 and gave the stock an “in-line” rating in a research report on Monday, October 21st. Royal Bank of Canada cut their price target on Sun Communities from $147.00 to $135.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Baird R W cut Sun Communities from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Bank of America lowered Sun Communities from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $147.00 to $114.00 in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Sun Communities has a consensus rating of “Hold” and an average target price of $135.69.

Sun Communities Stock Up 1.9 %

Sun Communities stock opened at $124.72 on Thursday. The company has a market capitalization of $15.89 billion, a P/E ratio of 67.05, a PEG ratio of 0.51 and a beta of 0.88. Sun Communities has a fifty-two week low of $110.98 and a fifty-two week high of $147.83. The stock has a 50-day simple moving average of $125.95 and a 200-day simple moving average of $128.81. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61.

Sun Communities (NYSE:SUI) last posted its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). The business had revenue of $939.90 million during 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 quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.57 earnings per share. Equities research analysts expect that Sun Communities will post 6.78 earnings per share for the current year.

Hedge Funds Weigh In On Sun Communities

A number of hedge funds have recently made changes to their positions in the business. CIBC Asset Management Inc raised its position in Sun Communities by 4.4% in the second quarter. CIBC Asset Management Inc now owns 4,173 shares of the real estate investment trust’s stock valued at $502,000 after purchasing an additional 175 shares during the period. Wolverine Asset Management LLC purchased a new stake in shares of Sun Communities during the 2nd quarter valued at about $598,000. Victory Capital Management Inc. lifted its position in Sun Communities by 4.3% during the 2nd quarter. Victory Capital Management Inc. now owns 72,195 shares of the real estate investment trust’s stock worth $8,688,000 after acquiring an additional 2,989 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Sun Communities in the 2nd quarter worth approximately $6,603,000. Finally, Acadian Asset Management LLC acquired a new stake in Sun Communities in the second quarter valued at approximately $228,000. 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.