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

Sun Communities (NYSE:SUI)‘s stock had its “market outperform” rating reaffirmed by research analysts at JMP Securities in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $150.00 target price on the real estate investment trust’s stock. JMP Securities’ target price would indicate a potential upside of 27.88% from the company’s current price.

A number of other research analysts have also recently weighed in on SUI. Evercore ISI dropped their price objective on shares of Sun Communities from $145.00 to $128.00 and set an “outperform” rating for the company in a report on Wednesday. Barclays reduced their price objective on Sun Communities from $157.00 to $155.00 and set an “overweight” rating for the company in a research note on Friday, January 26th. Royal Bank of Canada decreased their target price on shares of Sun Communities from $142.00 to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday. BMO Capital Markets cut their price target on shares of Sun Communities from $143.00 to $140.00 and set an “outperform” rating for the company in a report on Monday, January 22nd. Finally, Compass Point boosted their price objective on shares of Sun Communities from $116.00 to $125.00 and gave the stock a “neutral” rating in a report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $138.92.

Sun Communities Trading Up 0.6 %

Shares of Sun Communities stock traded up $0.66 during trading hours on Thursday, hitting $117.30. The company’s stock had a trading volume of 697,971 shares, compared to its average volume of 696,598. The firm has a fifty day moving average of $125.83 and a 200-day moving average of $125.37. The stock has a market cap of $14.62 billion, a price-to-earnings ratio of 101.12, a P/E/G ratio of 1.04 and a beta of 0.83. Sun Communities has a twelve month low of $102.74 and a twelve month 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.

Insider Activity at Sun Communities

In other Sun Communities news, Director Craig Leupold sold 2,500 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $128.39, for a total transaction of $320,975.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Baxter Underwood sold 4,000 shares of Sun Communities stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $131.48, for a total transaction of $525,920.00. Following the transaction, the chief executive officer now owns 66,852 shares in the company, valued at approximately $8,789,700.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Craig Leupold sold 2,500 shares of the stock in a transaction 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. Over the last three months, insiders sold 7,000 shares of company stock worth $912,460. 1.89% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sun Communities

Institutional investors and hedge funds have recently modified their holdings of the stock. Farmers & Merchants Investments Inc. acquired a new position in Sun Communities in the 1st quarter worth $26,000. Lindbrook Capital LLC raised its position in shares of Sun Communities by 120.2% during the 3rd quarter. Lindbrook Capital LLC now owns 229 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 125 shares in the last quarter. V Square Quantitative Management LLC bought a new position in Sun Communities during the fourth quarter worth $32,000. CKW Financial Group bought a new position in Sun Communities during the first quarter worth $38,000. Finally, Quest Partners LLC acquired a new position in Sun Communities in the fourth quarter worth $51,000. Hedge funds and other 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.