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

Sun Communities (NYSE:SUI)‘s stock had its “market outperform” rating reiterated by equities researchers at JMP Securities in a note issued to investors on Thursday, Benzinga reports. They presently have a $150.00 target price on the real estate investment trust’s stock. JMP Securities’ price objective would indicate a potential upside of 28.58% from the stock’s previous close.

SUI has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Sun Communities in a research report on Tuesday, January 30th. They issued a “hold” rating and a $129.00 price target for the company. Royal Bank of Canada lowered their target price on Sun Communities from $142.00 to $130.00 and set an “outperform” rating on the stock in a research note on Wednesday. Truist Financial decreased their price objective on Sun Communities from $143.00 to $136.00 and set a “hold” rating for the company in a report on Monday, March 18th. BMO Capital Markets decreased their price objective on Sun Communities from $143.00 to $140.00 and set an “outperform” rating for the company in a report on Monday, January 22nd. Finally, Evercore ISI reduced their target price on Sun Communities from $145.00 to $128.00 and set an “outperform” rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Sun Communities currently has an average rating of “Hold” and an average target price of $138.92.

Sun Communities Trading Up 3.4 %

Shares of SUI stock traded up $3.88 during trading hours on Thursday, hitting $116.66. 560,824 shares of the company were exchanged, compared to its average volume of 813,625. The firm has a market cap of $14.54 billion, a P/E ratio of 100.41, a P/E/G ratio of 1.00 and a beta of 0.83. Sun Communities has a fifty-two week low of $102.74 and a fifty-two week high of $141.52. 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 50 day simple moving average of $126.11 and a two-hundred day simple moving average of $125.43.

Insider Buying and Selling

In related news, Director Craig Leupold sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $128.39, for a total value of $320,975.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Sun Communities news, Director Clunet R. Lewis sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $131.13, for a total value of $65,565.00. Following the completion of the sale, the director now owns 28,400 shares in the company, valued at $3,724,092. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Craig Leupold sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $128.39, for a total value of $320,975.00. The disclosure for this sale can be found here. Insiders sold 7,000 shares of company stock worth $912,460 in the last quarter. 1.89% of the stock is owned by insiders.

Hedge Funds Weigh In On Sun Communities

Hedge funds and other institutional investors have recently made changes to their positions in the business. Commonwealth Equity Services LLC grew its stake in Sun Communities by 2.0% in the third quarter. Commonwealth Equity Services LLC now owns 8,102 shares of the real estate investment trust’s stock worth $959,000 after purchasing an additional 155 shares during the period. Xponance Inc. grew its stake in shares of Sun Communities by 2.7% in the third quarter. Xponance Inc. now owns 7,377 shares of the real estate investment trust’s stock worth $873,000 after acquiring an additional 191 shares during the last quarter. Raymond James & Associates grew its stake in shares of Sun Communities by 6.6% in the third quarter. Raymond James & Associates now owns 63,723 shares of the real estate investment trust’s stock worth $7,541,000 after acquiring an additional 3,972 shares during the last quarter. Stratos Wealth Partners LTD. lifted its holdings in shares of Sun Communities by 9.2% during the third quarter. Stratos Wealth Partners LTD. now owns 1,846 shares of the real estate investment trust’s stock valued at $219,000 after purchasing an additional 155 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its holdings in shares of Sun Communities by 120.2% during the third quarter. Lindbrook Capital LLC now owns 229 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 125 shares in 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.