Sun Communities (NYSE:SUI) Now Covered by Jefferies Financial Group

Equities research analysts at Jefferies Financial Group began coverage on shares of Sun Communities (NYSE:SUI) in a report issued on Tuesday, MarketBeat reports. The firm set a “buy” rating and a $150.00 price target on the real estate investment trust’s stock. Jefferies Financial Group’s target price suggests a potential upside of 23.39% from the company’s current price.

A number of other research analysts have also recently issued reports on SUI. Wells Fargo & Company decreased their price objective on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Truist Financial boosted their price objective on shares of Sun Communities from $136.00 to $142.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Finally, Royal Bank of Canada reissued an “outperform” rating on shares of Sun Communities in a research report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $137.40.

Sun Communities Price Performance

NYSE:SUI opened at $121.57 on Tuesday. The company has a 50-day moving average of $128.17 and a 200-day moving average of $127.79. The company has a market capitalization of $15.51 billion, a price-to-earnings ratio of 65.36 and a beta of 0.84. Sun Communities has a 52 week low of $109.22 and a 52 week high of $147.83. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61.

Sun Communities (NYSE:SUI) last announced its quarterly earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.02. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The firm had revenue of $745.90 million during the quarter, compared to the consensus estimate of $724.68 million. As a group, equities research analysts anticipate that Sun Communities will post 6.77 earnings per share for the current fiscal year.

Institutional Trading of Sun Communities

Several institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Sun Communities in the 4th quarter worth about $888,783,000. Cohen & Steers Inc. increased its position in shares of Sun Communities by 30.3% during the fourth quarter. Cohen & Steers Inc. now owns 16,373,446 shares of the real estate investment trust’s stock valued at $2,013,414,000 after buying an additional 3,811,528 shares during the period. Dodge & Cox increased its position in shares of Sun Communities by 61.1% in the fourth quarter. Dodge & Cox now owns 9,606,018 shares of the real estate investment trust’s stock worth $1,181,252,000 after purchasing an additional 3,644,853 shares during the last quarter. FMR LLC increased its position in shares of Sun Communities by 51.3% in the fourth quarter. FMR LLC now owns 7,917,870 shares of the real estate investment trust’s stock worth $973,660,000 after purchasing an additional 2,684,214 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Sun Communities by 19.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,549,540 shares of the real estate investment trust’s stock valued at $682,429,000 after acquiring an additional 911,857 shares during 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.