Sun Communities (NYSE:SUI) Earns “Market Outperform” Rating from JMP Securities

Sun Communities (NYSE:SUI)‘s stock had its “market outperform” rating restated by investment analysts at JMP Securities in a report released on Tuesday, Benzinga reports. They currently have a $150.00 price target on the real estate investment trust’s stock. JMP Securities’ target price indicates a potential upside of 25.74% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Compass Point increased their target price on shares of Sun Communities from $116.00 to $125.00 and gave the stock a “neutral” rating in a report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Sun Communities in a research report on Tuesday, January 30th. They issued a “hold” rating and a $129.00 price objective on the stock. BMO Capital Markets dropped their target price on shares of Sun Communities from $143.00 to $140.00 and set an “outperform” rating on the stock in a research report on Monday, January 22nd. Barclays dropped their target price on shares of Sun Communities from $157.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, January 26th. Finally, Truist Financial dropped their target price on shares of Sun Communities from $143.00 to $136.00 and set a “hold” rating on the stock in a research report on Monday, March 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Sun Communities presently has a consensus rating of “Hold” and a consensus price target of $141.17.

Sun Communities Trading Up 0.8 %

NYSE:SUI traded up $1.00 on Tuesday, hitting $119.29. The stock had a trading volume of 71,094 shares, compared to its average volume of 796,676. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.05. The stock has a market cap of $14.87 billion, a price-to-earnings ratio of 104.55, a PEG ratio of 7.53 and a beta of 0.80. The company has a fifty day moving average price of $127.74 and a two-hundred day moving average price of $125.22. Sun Communities has a 1-year low of $102.74 and a 1-year high of $141.52.

Insiders Place Their Bets

In other news, CEO Baxter Underwood sold 4,000 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $131.48, for a total value of $525,920.00. Following the completion of the sale, the chief executive officer now owns 66,852 shares in the company, valued at approximately $8,789,700.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Baxter Underwood sold 4,000 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $131.48, for a total value of $525,920.00. Following the completion of the sale, the chief executive officer now owns 66,852 shares in the company, valued at approximately $8,789,700.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Clunet R. Lewis sold 500 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $131.13, for a total transaction of $65,565.00. Following the completion of the sale, the director now owns 28,400 shares of the company’s stock, valued at approximately $3,724,092. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,000 shares of company stock valued at $912,460. Insiders own 1.89% of the company’s stock.

Institutional Trading of Sun Communities

Several hedge funds have recently made changes to their positions in SUI. Farmers & Merchants Investments Inc. acquired a new stake in shares of Sun Communities in the first quarter valued at about $26,000. Lindbrook Capital LLC increased its holdings in Sun Communities by 120.2% during the 3rd quarter. Lindbrook Capital LLC now owns 229 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 125 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in Sun Communities during the 4th quarter valued at about $32,000. CKW Financial Group purchased a new position in Sun Communities during the 1st quarter valued at about $38,000. Finally, Quest Partners LLC purchased a new position in Sun Communities during the 4th quarter valued at about $51,000. Institutional investors and hedge funds own 99.59% of the company’s stock.

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.