Sun Communities (NYSE:SUI) PT Raised to $138.00 at Truist Financial

Sun Communities (NYSE:SUI) had its target price upped by research analysts at Truist Financial from $127.00 to $138.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s price target indicates a potential upside of 4.62% from the company’s previous close.

Several other equities research analysts have also issued reports on the company. Royal Bank of Canada raised their price objective on Sun Communities from $131.00 to $137.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Evercore ISI dropped their price objective on shares of Sun Communities from $145.00 to $128.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. JMP Securities reissued a “market outperform” rating and issued a $150.00 target price on shares of Sun Communities in a research note on Thursday, May 2nd. Finally, StockNews.com cut shares of Sun Communities from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $135.30.

Sun Communities Stock Up 1.2 %

Shares of NYSE:SUI opened at $131.90 on Tuesday. The company has a market cap of $16.44 billion, a price-to-earnings ratio of 113.71, a PEG ratio of 0.96 and a beta of 0.88. Sun Communities has a 12 month low of $102.74 and a 12 month high of $137.45. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.09. The company has a 50-day moving average price of $122.49 and a 200 day moving average price of $123.58.

Insiders Place Their Bets

In other news, CEO Baxter Underwood sold 3,000 shares of Sun Communities stock in a transaction that occurred 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 sale, the chief executive officer now owns 63,462 shares of the company’s stock, valued at $8,340,810.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.89% of the company’s stock.

Hedge Funds Weigh In On Sun Communities

A number of hedge funds and other institutional investors have recently made changes to their positions in SUI. Farmers & Merchants Investments Inc. purchased a new stake in Sun Communities in the first quarter worth about $26,000. V Square Quantitative Management LLC bought a new stake in shares of Sun Communities in the 4th quarter valued at about $32,000. CKW Financial Group purchased a new stake in shares of Sun Communities in the 1st quarter worth approximately $38,000. Quest Partners LLC purchased a new stake in shares of Sun Communities in the 4th quarter worth approximately $51,000. Finally, 1620 Investment Advisors Inc. bought a new position in shares of Sun Communities during the second quarter valued at approximately $62,000. 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.