Jefferies Financial Group Has Lowered Expectations for Sun Communities (NYSE:SUI) Stock Price

Sun Communities (NYSE:SUI) had its price target decreased by Jefferies Financial Group from $145.00 to $142.00 in a research note issued to investors on Thursday,Benzinga reports. Jefferies Financial Group currently has a buy rating on the real estate investment trust’s stock.

A number of other research firms have also weighed in on SUI. UBS Group lowered Sun Communities from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $155.00 to $134.00 in a research report on Thursday, November 14th. Evercore ISI raised their price objective on Sun Communities from $149.00 to $150.00 and gave the company an “in-line” rating in a research report on Monday, October 21st. BMO Capital Markets reduced their target price on Sun Communities from $145.00 to $138.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Baird R W lowered Sun Communities from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, StockNews.com lowered Sun Communities from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $135.69.

Sun Communities Trading Up 1.9 %

SUI opened at $124.72 on Thursday. The stock has a market cap of $15.89 billion, a PE ratio of 67.05, a PEG ratio of 0.51 and a beta of 0.88. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. The business has a 50 day moving average of $125.95 and a 200-day moving average of $128.81. Sun Communities has a 52 week low of $110.98 and a 52 week high of $147.83.

Sun Communities (NYSE:SUI) last posted its quarterly earnings data 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). Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The company had revenue of $939.90 million for the quarter, compared to the consensus estimate of $980.41 million. During the same period last year, the business earned $2.57 EPS. The firm’s quarterly revenue was down 4.4% on a year-over-year basis. Equities research analysts predict that Sun Communities will post 6.78 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Tuesday, December 31st. Sun Communities’s payout ratio is currently 202.15%.

Institutional Trading of Sun Communities

Several large investors have recently modified their holdings of SUI. FMR LLC grew its holdings in shares of Sun Communities by 37.6% in the third quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust’s stock worth $707,329,000 after acquiring an additional 1,430,630 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Sun Communities by 1,061.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,323,479 shares of the real estate investment trust’s stock valued at $178,868,000 after purchasing an additional 1,209,522 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in Sun Communities by 24.0% during the second quarter. Daiwa Securities Group Inc. now owns 2,195,884 shares of the real estate investment trust’s stock valued at $264,253,000 after purchasing an additional 424,842 shares in the last quarter. Westfield Capital Management Co. LP lifted its position in Sun Communities by 58.8% during the third quarter. Westfield Capital Management Co. LP now owns 959,879 shares of the real estate investment trust’s stock valued at $129,728,000 after purchasing an additional 355,427 shares in the last quarter. Finally, Adelante Capital Management LLC lifted its position in Sun Communities by 168.7% during the third quarter. Adelante Capital Management LLC now owns 559,129 shares of the real estate investment trust’s stock valued at $75,566,000 after purchasing an additional 351,017 shares in the last quarter. 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.