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

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

Several other brokerages have also recently weighed in on SUI. Wells Fargo & Company increased their price target on Sun Communities from $123.00 to $154.00 and gave the company an “equal weight” rating in a research note on Thursday, September 19th. Royal Bank of Canada lifted their price target on Sun Communities from $131.00 to $137.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Truist Financial boosted their price target on Sun Communities from $127.00 to $138.00 and gave the company a “hold” rating in a report on Tuesday, August 13th. Evercore ISI cut Sun Communities from an “outperform” rating to an “inline” rating and boosted their price target for the stock from $144.00 to $149.00 in a research report on Monday, September 16th. Finally, Robert W. Baird increased their price target on Sun Communities from $144.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, September 3rd. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.20.

Sun Communities Stock Up 0.7 %

NYSE:SUI opened at $129.78 on Thursday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $16.18 billion, a price-to-earnings ratio of 150.90, a price-to-earnings-growth ratio of 0.93 and a beta of 0.91. Sun Communities has a twelve month low of $102.74 and a twelve month high of $147.83. The stock’s 50 day moving average price is $134.96 and its two-hundred day moving average price is $125.40.

Insider Activity at Sun Communities

In related news, CEO Baxter Underwood sold 3,000 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now owns 63,462 shares in the company, valued at approximately $8,340,810.66. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.89% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sun Communities

A number of hedge funds have recently made changes to their positions in the stock. Centersquare Investment Management LLC raised its holdings in Sun Communities by 4.7% during the 1st quarter. Centersquare Investment Management LLC now owns 2,171,868 shares of the real estate investment trust’s stock worth $279,259,000 after purchasing an additional 96,529 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Sun Communities by 8.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 143,209 shares of the real estate investment trust’s stock valued at $18,414,000 after acquiring an additional 11,195 shares during the period. Manning & Napier Advisors LLC bought a new stake in Sun Communities during the second quarter valued at $13,164,000. SG Americas Securities LLC grew its holdings in shares of Sun Communities by 145.0% during the first quarter. SG Americas Securities LLC now owns 20,576 shares of the real estate investment trust’s stock worth $2,646,000 after purchasing an additional 12,177 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Sun Communities in the first quarter worth approximately $1,106,000. 99.59% of the stock is currently owned by institutional investors and hedge funds.

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.