Sun Communities (NYSE:SUI) Raised to Strong-Buy at UBS Group

Sun Communities (NYSE:SUI) was upgraded by analysts at UBS Group to a “strong-buy” rating in a research report issued on Thursday, Zacks.com reports.

Several other brokerages have also recently weighed in on SUI. Wells Fargo & Company increased their price target on Sun Communities from $123.00 to $154.00 and gave the company an “equal weight” rating in a research note on Thursday, September 19th. Evercore ISI lowered Sun Communities from an “outperform” rating to an “inline” rating and increased their price target for the stock from $144.00 to $149.00 in a report on Monday, September 16th. Truist Financial raised their target price on Sun Communities from $127.00 to $138.00 and gave the company a “hold” rating in a report on Tuesday, August 13th. StockNews.com upgraded Sun Communities from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Royal Bank of Canada lifted their price target on Sun Communities from $131.00 to $137.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Sun Communities presently has an average rating of “Moderate Buy” and an average price target of $142.20.

Sun Communities Price Performance

Shares of SUI opened at $129.78 on Thursday. The stock has a market cap of $16.18 billion, a PE ratio of 150.90, a PEG ratio of 0.93 and a beta of 0.91. The business has a 50-day simple moving average of $134.96 and a two-hundred day simple moving average of $125.40. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.09. Sun Communities has a 12-month low of $102.74 and a 12-month high of $147.83.

Insider Activity

In related news, CEO Baxter Underwood sold 3,000 shares of Sun Communities stock in a transaction on Monday, August 5th. The stock was 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 approximately $8,340,810.66. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.89% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sun Communities

Large investors have recently added to or reduced their stakes in the business. Farmers & Merchants Investments Inc. bought a new stake in Sun Communities during the first quarter worth about $26,000. V Square Quantitative Management LLC purchased a new position in Sun Communities during the fourth quarter valued at $32,000. Quest Partners LLC lifted its position in Sun Communities by 12,700.0% during the second quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 381 shares during the period. 1620 Investment Advisors Inc. purchased a new position in shares of Sun Communities in the 2nd quarter worth about $62,000. Finally, Fidelis Capital Partners LLC purchased a new position in shares of Sun Communities in the 1st quarter worth about $83,000. Institutional investors own 99.59% of the company’s stock.

About Sun Communities

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.