JMP Securities Reiterates Market Outperform Rating for Sun Communities (NYSE:SUI)

Sun Communities (NYSE:SUI)‘s stock had its “market outperform” rating reaffirmed by equities researchers at JMP Securities in a research note issued on Tuesday, Benzinga reports. They currently have a $150.00 target price on the real estate investment trust’s stock. JMP Securities’ target price would indicate a potential upside of 24.69% from the stock’s previous close.

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

Sun Communities Stock Up 0.2 %

Shares of NYSE:SUI opened at $120.30 on Tuesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.66 and a current ratio of 1.66. The company has a market cap of $14.99 billion, a PE ratio of 105.53, a price-to-earnings-growth ratio of 7.57 and a beta of 0.80. Sun Communities has a 52 week low of $102.74 and a 52 week high of $141.52. The firm has a 50 day simple moving average of $127.51 and a 200 day simple moving average of $125.20.

Insider Activity at Sun Communities

In related 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 transaction, the chief executive officer now directly 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 is accessible through this link. In other Sun Communities news, CEO Baxter Underwood sold 4,000 shares of the 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 directly owns 66,852 shares of the company’s stock, valued at approximately $8,789,700.96. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Craig Leupold sold 2,500 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $128.39, for a total transaction of $320,975.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,000 shares of company stock worth $912,460. 1.89% of the stock is owned by insiders.

Institutional Trading of Sun Communities

A number of hedge funds have recently bought and sold shares of SUI. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Sun Communities by 5.3% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 673,215 shares of the real estate investment trust’s stock worth $89,975,000 after acquiring an additional 33,795 shares during the period. Strs Ohio lifted its holdings in shares of Sun Communities by 8.6% during the 4th quarter. Strs Ohio now owns 301,096 shares of the real estate investment trust’s stock worth $40,241,000 after acquiring an additional 23,792 shares during the period. Stratos Wealth Partners LTD. lifted its holdings in shares of Sun Communities by 9.2% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 1,846 shares of the real estate investment trust’s stock worth $219,000 after acquiring an additional 155 shares during the period. DNB Asset Management AS lifted its holdings in shares of Sun Communities by 5.6% during the 4th quarter. DNB Asset Management AS now owns 17,647 shares of the real estate investment trust’s stock worth $2,359,000 after acquiring an additional 932 shares during the period. Finally, Arizona State Retirement System lifted its holdings in shares of Sun Communities by 0.7% during the 4th quarter. Arizona State Retirement System now owns 34,195 shares of the real estate investment trust’s stock worth $4,570,000 after acquiring an additional 253 shares during the period. 99.59% of the stock is owned by institutional investors.

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.