Sun Communities (NYSE:SUI - Get Free Report) was downgraded by investment analysts at Robert W. Baird from an "outperform" rating to a "neutral" rating in a research note issued on Thursday, Briefing.com reports. They currently have a $126.00 price objective on the real estate investment trust's stock, down from their previous price objective of $145.00. Robert W. Baird's price target points to a potential downside of 4.42% from the company's previous close.
SUI has been the topic of a number of other research reports. Truist Financial lifted their target price on Sun Communities from $127.00 to $138.00 and gave the company a "hold" rating in a research report on Tuesday, August 13th. Royal Bank of Canada upped their price objective on shares of Sun Communities from $131.00 to $137.00 and gave the stock an "outperform" rating in a research report on Friday, August 2nd. StockNews.com lowered shares of Sun Communities from a "hold" rating to a "sell" rating in a research report on Friday, October 18th. Wells Fargo & Company upped their price target on shares of Sun Communities from $123.00 to $154.00 and gave the stock an "equal weight" rating in a report on Thursday, September 19th. Finally, Evercore ISI raised their price objective on Sun Communities from $149.00 to $150.00 and gave the company an "in-line" rating in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Sun Communities currently has an average rating of "Hold" and a consensus price target of $142.18.
Get Our Latest Analysis on Sun Communities
Shares of SUI stock opened at $131.83 on Thursday. Sun Communities has a fifty-two week low of $110.98 and a fifty-two week high of $147.83. The stock's fifty day moving average price is $135.71 and its two-hundred day moving average price is $126.78. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.42 and a current ratio of 1.42. The company has a market cap of $16.44 billion, a PE ratio of 153.29, a P/E/G ratio of 0.95 and a beta of 0.91.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its holdings in Sun Communities by 50.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,302,804 shares of the real estate investment trust's stock worth $424,677,000 after purchasing an additional 1,105,306 shares during the last quarter. PGGM Investments lifted its holdings in Sun Communities by 159.9% in the second quarter. PGGM Investments now owns 1,246,739 shares of the real estate investment trust's stock valued at $150,033,000 after buying an additional 767,126 shares during the period. Daiwa Securities Group Inc. boosted its position in Sun Communities by 24.0% during the second quarter. Daiwa Securities Group Inc. now owns 2,195,884 shares of the real estate investment trust's stock valued at $264,253,000 after acquiring an additional 424,842 shares during the last quarter. Hsbc Holdings PLC grew its holdings in Sun Communities by 199.1% during the 2nd quarter. Hsbc Holdings PLC now owns 358,284 shares of the real estate investment trust's stock worth $42,754,000 after acquiring an additional 238,498 shares during the period. Finally, National Bank of Canada FI raised its position in shares of Sun Communities by 499.9% in the 1st quarter. National Bank of Canada FI now owns 157,977 shares of the real estate investment trust's stock worth $18,562,000 after acquiring an additional 131,641 shares in the last quarter. 99.59% of the stock is owned by institutional investors and hedge funds.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Sun Communities, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sun Communities wasn't on the list.
While Sun Communities currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.