Sun Communities (NYSE:SUI) Stock Gets Price Target Cut from Truist Financial

Sun Communities (NYSE:SUI) had its price objective lowered by equities research analysts at Truist Financial from $136.00 to $129.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Truist Financial‘s price target points to a potential upside of 10.80% from the stock’s current price.

A number of other research analysts also recently issued reports on SUI. Morgan Stanley cut their price target on Sun Communities from $135.00 to $126.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 12th. Barclays dropped their price objective on Sun Communities from $147.00 to $143.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 14th. Odeon Capital Group set a $135.00 target price on Sun Communities in a research note on Thursday, July 9th. Royal Bank Of Canada reduced their target price on shares of Sun Communities from $148.00 to $140.00 and set an “outperform” rating for the company in a report on Tuesday, October 13th. Finally, UBS Group reissued a “neutral” rating on shares of Sun Communities in a research report on Tuesday, October 27th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $136.25.

Sun Communities Stock Down 0.3%

Shares of SUI stock traded down $0.39 on Tuesday, hitting $116.42. The stock had a trading volume of 163,445 shares, compared to its average volume of 1,172,917. Sun Communities has a one year low of $109.77 and a one year high of $137.85. The business has a 50 day moving average price of $116.07 and a 200 day moving average price of $123.43. The company has a market cap of $13.90 billion, a PE ratio of -18.90, a P/E/G ratio of 4.72 and a beta of 0.76. The company has a quick ratio of 2.52, a current ratio of 4.68 and a debt-to-equity ratio of 0.69.

Sun Communities (NYSE:SUI) last issued its earnings results on Monday, October 26th. The real estate investment trust reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.05. The company had revenue of $558.20 million for the quarter, compared to analysts’ expectations of $563.59 million. Sun Communities had a negative net margin of 36.00% and a positive return on equity of 5.02%. The firm’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the prior year, the business earned $2.28 EPS. Research analysts anticipate that Sun Communities will post 7.01 earnings per share for the current fiscal year.

Institutional Trading of Sun Communities

A number of institutional investors have recently bought and sold shares of the stock. CX Institutional increased its position in shares of Sun Communities by 1,076.7% in the 3rd quarter. CX Institutional now owns 353 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 323 shares during the period. Oslo Pensjonsforsikring AS acquired a new stake in Sun Communities during the 1st quarter worth about $49,000. Avalon Trust Co purchased a new stake in Sun Communities during the 2nd quarter valued at about $61,000. V Square Quantitative Management LLC grew its stake in Sun Communities by 36.7% during the 1st quarter. V Square Quantitative Management LLC now owns 548 shares of the real estate investment trust’s stock valued at $69,000 after purchasing an additional 147 shares during the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new stake in Sun Communities during the 2nd quarter valued at about $72,000. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Sun Communities Company Profile

Sun Communities, Inc (NYSE:SUI) is a real estate investment trust that owns, operates and develops manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company provides residential sites for manufactured homes, seasonal and long-term RV accommodations, and marina facilities that include boat slips and related storage services.

Sun Communities also offers vacation accommodations and amenities such as swimming pools, clubhouses, recreational facilities and community services.