Sun Communities (NYSE:SUI) Upgraded by Wells Fargo & Company to Overweight Rating

Sun Communities (NYSE:SUI) was upgraded by equities research analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a report released on Friday. The firm currently has a $150.00 price objective on the real estate investment trust’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 10.50% from the company’s current price.

SUI has been the subject of several other reports. Barclays restated an “overweight” rating and issued a $144.00 price target on shares of Sun Communities in a research note on Tuesday, January 13th. Royal Bank Of Canada lifted their target price on Sun Communities from $142.00 to $143.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Truist Financial upped their price target on shares of Sun Communities from $141.00 to $142.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Deutsche Bank Aktiengesellschaft raised shares of Sun Communities from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a research report on Tuesday, January 20th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Sun Communities in a report on Wednesday, January 21st. Seven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $138.77.

Sun Communities Trading Up 2.4%

Shares of NYSE:SUI opened at $135.75 on Friday. Sun Communities has a 12-month low of $109.22 and a 12-month high of $137.77. The stock has a market cap of $16.79 billion, a PE ratio of 12.64, a P/E/G ratio of 4.41 and a beta of 0.90. The business has a 50 day moving average of $126.66 and a 200-day moving average of $126.41. The company has a quick ratio of 6.01, a current ratio of 6.01 and a debt-to-equity ratio of 0.58.

Insider Transactions at Sun Communities

In related news, Director Gary A. Shiffman sold 156,875 shares of Sun Communities stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $123.53, for a total value of $19,378,768.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.77% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sun Communities

Large investors have recently modified their holdings of the business. Norges Bank acquired a new position in shares of Sun Communities during the 2nd quarter worth $925,926,000. Wellington Management Group LLP grew its position in Sun Communities by 1,224.1% in the third quarter. Wellington Management Group LLP now owns 4,485,795 shares of the real estate investment trust’s stock valued at $578,668,000 after acquiring an additional 4,147,015 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Sun Communities by 37,933.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,474,162 shares of the real estate investment trust’s stock worth $182,663,000 after acquiring an additional 1,470,286 shares in the last quarter. Dodge & Cox lifted its holdings in shares of Sun Communities by 4.0% in the second quarter. Dodge & Cox now owns 14,198,760 shares of the real estate investment trust’s stock worth $1,796,001,000 after acquiring an additional 550,940 shares during the last quarter. Finally, M&T Bank Corp lifted its holdings in shares of Sun Communities by 20,348.9% in the fourth quarter. M&T Bank Corp now owns 498,339 shares of the real estate investment trust’s stock worth $61,749,000 after acquiring an additional 495,902 shares during the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Company Profile

Sun Communities, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company’s portfolio spans more than 500 manufactured housing communities and over 160 RV resorts, offering affordable, long-term housing as well as short-stay recreational lodging. Through professional on-site management and amenity-rich community designs, Sun Communities serves a diverse customer base that includes retirees, workforce families and vacationers.

Founded in 1975 and headquartered in Southfield, Michigan, Sun Communities has grown organically and through strategic acquisitions to become one of the largest operators in its sector.