Weiss Ratings Reaffirms “Hold (C)” Rating for Sun Communities (NYSE:SUI)

Sun Communities (NYSE:SUI)‘s stock had its “hold (c)” rating reissued by research analysts at Weiss Ratings in a report issued on Friday,Weiss Ratings reports.

Several other analysts also recently commented on SUI. Morgan Stanley set a $142.00 price objective on Sun Communities in a research note on Thursday, September 4th. Jefferies Financial Group raised Sun Communities to a “strong-buy” rating in a research note on Monday, October 20th. Royal Bank Of Canada dropped their price objective on Sun Communities from $147.00 to $143.00 and set an “outperform” rating on the stock in a research note on Friday, August 1st. Wells Fargo & Company dropped their price objective on Sun Communities from $135.00 to $132.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 27th. Finally, Truist Financial raised their price objective on Sun Communities from $137.00 to $141.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $137.86.

Sun Communities Stock Up 0.6%

NYSE:SUI opened at $124.03 on Friday. Sun Communities has a 12-month low of $109.22 and a 12-month high of $138.73. The company has a quick ratio of 7.08, a current ratio of 7.08 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $15.52 billion, a P/E ratio of 12.14, a P/E/G ratio of 6.34 and a beta of 0.86. The stock’s fifty day simple moving average is $126.81 and its 200-day simple moving average is $125.15.

Sun Communities (NYSE:SUI) last posted its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.09. Sun Communities had a negative return on equity of 0.60% and a net margin of 48.86%.The business had revenue of $623.50 million for the quarter, compared to analyst estimates of $614.79 million. During the same period last year, the company earned $1.86 EPS. Sun Communities has set its FY 2025 guidance at 6.510-6.670 EPS. Q3 2025 guidance at 2.130-2.230 EPS. Equities research analysts expect that Sun Communities will post 6.77 earnings per share for the current year.

Institutional Trading of Sun Communities

A number of institutional investors have recently modified their holdings of SUI. Norges Bank bought a new stake in shares of Sun Communities in the second quarter valued at about $925,926,000. Dodge & Cox lifted its holdings in shares of Sun Communities by 42.1% in the first quarter. Dodge & Cox now owns 13,647,820 shares of the real estate investment trust’s stock valued at $1,755,656,000 after purchasing an additional 4,041,802 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Sun Communities in the first quarter valued at about $112,395,000. Deutsche Bank AG raised its holdings in Sun Communities by 103.7% during the first quarter. Deutsche Bank AG now owns 1,611,425 shares of the real estate investment trust’s stock worth $207,294,000 after acquiring an additional 820,422 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Sun Communities by 10.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,118,054 shares of the real estate investment trust’s stock worth $787,029,000 after acquiring an additional 568,514 shares in the last quarter. 99.59% of the stock is currently 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.