Barclays Initiates Coverage on Sun Communities (NYSE:SUI)

Stock analysts at Barclays assumed coverage on shares of Sun Communities (NYSE:SUI) in a research report issued on Thursday, MarketBeat Ratings reports. The firm set an “overweight” rating and a $141.00 price target on the real estate investment trust’s stock. Barclays‘s price objective suggests a potential upside of 14.28% from the stock’s current price.

A number of other analysts have also recently weighed in on the company. Jefferies Financial Group began coverage on Sun Communities in a research report on Tuesday, April 8th. They set a “buy” rating and a $150.00 price objective for the company. Bank of America increased their price objective on Sun Communities from $124.00 to $132.00 and gave the stock an “underperform” rating in a research report on Monday, May 12th. Truist Financial decreased their price objective on Sun Communities from $142.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Robert W. Baird reduced their price target on Sun Communities from $128.00 to $126.00 and set a “neutral” rating for the company in a report on Thursday, May 8th. Finally, Royal Bank of Canada reduced their price target on Sun Communities from $154.00 to $147.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $138.91.

Sun Communities Stock Up 0.8%

Sun Communities stock opened at $123.38 on Thursday. Sun Communities has a twelve month low of $109.22 and a twelve month high of $147.83. The stock has a 50 day moving average of $123.49 and a two-hundred day moving average of $125.51. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $15.75 billion, a price-to-earnings ratio of 66.33 and a beta of 0.86.

Sun Communities (NYSE:SUI) last posted its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.08. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The company had revenue of $470.20 million during the quarter, compared to analysts’ expectations of $538.63 million. During the same period last year, the firm earned $1.19 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. As a group, research analysts expect that Sun Communities will post 6.77 earnings per share for the current year.

Hedge Funds Weigh In On Sun Communities

Hedge funds and other institutional investors have recently bought and sold shares of the company. Twin Tree Management LP acquired a new position in Sun Communities during the first quarter worth $29,000. Opal Wealth Advisors LLC acquired a new position in Sun Communities during the first quarter worth $29,000. Ransom Advisory Ltd acquired a new position in Sun Communities during the first quarter worth $31,000. Aster Capital Management DIFC Ltd raised its holdings in Sun Communities by 263.6% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 232 shares during the last quarter. Finally, GKV Capital Management Co. Inc. acquired a new position in Sun Communities during the first quarter worth $42,000. 99.59% of the stock is owned by institutional investors and hedge funds.

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.