Sun Communities (NYSE:SUI – Get Free Report) had its target price increased by equities researchers at Truist Financial from $127.00 to $138.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s price objective would indicate a potential upside of 6.05% from the stock’s current price.
A number of other brokerages also recently commented on SUI. StockNews.com downgraded Sun Communities from a “hold” rating to a “sell” rating in a report on Friday. JMP Securities reaffirmed a “market outperform” rating and issued a $150.00 target price on shares of Sun Communities in a research report on Thursday, May 2nd. Evercore ISI cut their target price on shares of Sun Communities from $145.00 to $128.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Finally, Royal Bank of Canada increased their price target on shares of Sun Communities from $131.00 to $137.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Sun Communities presently has a consensus rating of “Hold” and a consensus target price of $135.30.
View Our Latest Research Report on Sun Communities
Sun Communities Trading Down 0.3 %
SUI opened at $130.13 on Tuesday. Sun Communities has a one year low of $102.74 and a one year high of $137.45. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.42 and a quick ratio of 1.42. The business has a 50 day simple moving average of $121.99 and a two-hundred day simple moving average of $123.47. The firm has a market capitalization of $16.22 billion, a price-to-earnings ratio of 112.18, a PEG ratio of 0.96 and a beta of 0.88.
Insider Transactions at Sun Communities
In related news, CEO Baxter Underwood sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was 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 of the company’s stock, valued at approximately $8,340,810.66. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.89% of the company’s stock.
Institutional Trading of Sun Communities
Institutional investors have recently bought and sold shares of the company. Norges Bank bought a new position in shares of Sun Communities in the fourth quarter worth approximately $576,397,000. Price T Rowe Associates Inc. MD lifted its position 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 valued at $424,677,000 after acquiring an additional 1,105,306 shares in the last quarter. PGGM Investments boosted its stake in Sun Communities by 159.9% during the 2nd quarter. PGGM Investments now owns 1,246,739 shares of the real estate investment trust’s stock valued at $150,033,000 after purchasing an additional 767,126 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Sun Communities by 75.3% in the 4th quarter. Russell Investments Group Ltd. now owns 1,327,781 shares of the real estate investment trust’s stock worth $177,638,000 after purchasing an additional 570,329 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in shares of Sun Communities by 24.0% in the second quarter. Daiwa Securities Group Inc. now owns 2,195,884 shares of the real estate investment trust’s stock worth $264,253,000 after purchasing an additional 424,842 shares during the last quarter. 99.59% of the stock is owned by hedge funds and other institutional investors.
About Sun Communities
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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Source: defenseworld.net
