Sun Communities (NYSE:SUI – Get Free Report) had its price target raised by investment analysts at Wells Fargo & Company from $123.00 to $154.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 7.32% from the stock’s current price.
Several other research analysts have also commented on SUI. Robert W. Baird raised their price objective on shares of Sun Communities from $144.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, September 3rd. Evercore ISI lowered shares of Sun Communities from an “outperform” rating to an “inline” rating and raised their price objective for the company from $144.00 to $149.00 in a research note on Monday. StockNews.com cut shares of Sun Communities from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Truist Financial raised their target price on shares of Sun Communities from $127.00 to $138.00 and gave the company a “hold” rating in a report on Tuesday, August 13th. Finally, Royal Bank of Canada raised their target price on shares of Sun Communities from $131.00 to $137.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $140.91.
Read Our Latest Research Report on Sun Communities
Sun Communities Stock Up 0.3 %
Insiders Place Their Bets
In other Sun Communities news, CEO Baxter Underwood sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $131.43, for a total transaction of $394,290.00. Following the sale, the chief executive officer now owns 63,462 shares of the company’s stock, valued at $8,340,810.66. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.89% of the stock is owned by corporate insiders.
Institutional Trading of Sun Communities
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC acquired a new position in shares of Sun Communities in the 2nd quarter valued at $346,000. Northwestern Mutual Wealth Management Co. grew its position in Sun Communities by 15.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 762 shares of the real estate investment trust’s stock valued at $92,000 after buying an additional 102 shares during the last quarter. Liberty Mutual Group Asset Management Inc. grew its position in Sun Communities by 5.3% in the 2nd quarter. Liberty Mutual Group Asset Management Inc. now owns 33,293 shares of the real estate investment trust’s stock valued at $4,006,000 after buying an additional 1,665 shares during the last quarter. Mackenzie Financial Corp grew its position in Sun Communities by 118.2% in the 2nd quarter. Mackenzie Financial Corp now owns 7,055 shares of the real estate investment trust’s stock valued at $849,000 after buying an additional 3,821 shares during the last quarter. Finally, MBB Public Markets I LLC purchased a new position in Sun Communities in the 2nd quarter valued at $1,083,000. 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.
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