Analysts Set Sun Communities, Inc. (NYSE:SUI) Price Target at $139.42

Sun Communities, Inc. (NYSE:SUI) has been assigned a consensus rating of “Moderate Buy” from the seventeen analysts that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $139.4219.

Several research analysts have recently commented on SUI shares. Deutsche Bank Aktiengesellschaft set a $133.00 target price on Sun Communities in a research note on Thursday, May 14th. Barclays raised their price target on Sun Communities from $146.00 to $147.00 and gave the company an “overweight” rating in a report on Monday, August 17th. Mizuho dropped their price objective on shares of Sun Communities from $143.00 to $137.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 30th. Wells Fargo & Company cut their target price on shares of Sun Communities from $142.00 to $141.00 and set an “overweight” rating for the company in a research note on Monday, August 10th. Finally, Colliers Securities raised shares of Sun Communities from a “neutral” rating to a “buy” rating and set a $150.00 target price for the company in a report on Friday, May 22nd.

Sun Communities Trading Up 0.0%

Shares of NYSE:SUI opened at $119.46 on Friday. Sun Communities has a 52-week low of $115.90 and a 52-week high of $137.85. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.52 and a current ratio of 2.52. The company has a market capitalization of $14.55 billion, a P/E ratio of -16.85, a price-to-earnings-growth ratio of 5.45 and a beta of 0.77. The company has a 50-day simple moving average of $121.44 and a 200 day simple moving average of $125.39.

Insider Activity at Sun Communities

In other news, Director Gary Shiffman sold 25,031 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $119.96, for a total value of $3,002,718.76. Following the transaction, the director owned 857,761 shares of the company’s stock, valued at approximately $102,897,009.56. This represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.58% of the company’s stock.

Institutional Investors Weigh In On Sun Communities

Institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Sun Communities by 9.1% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,003 shares of the real estate investment trust’s stock worth $127,000 after purchasing an additional 84 shares during the period. IFP Advisors Inc lifted its holdings in shares of Sun Communities by 3.2% during the fourth quarter. IFP Advisors Inc now owns 2,902 shares of the real estate investment trust’s stock worth $360,000 after purchasing an additional 89 shares during the period. EverSource Wealth Advisors LLC increased its position in Sun Communities by 13.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 773 shares of the real estate investment trust’s stock valued at $96,000 after purchasing an additional 90 shares during the period. CIBC Asset Management Inc raised its stake in Sun Communities by 2.1% during the fourth quarter. CIBC Asset Management Inc now owns 5,467 shares of the real estate investment trust’s stock worth $677,000 after buying an additional 112 shares during the last quarter. Finally, Orion Porfolio Solutions LLC raised its position in shares of Sun Communities by 1.3% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 9,335 shares of the real estate investment trust’s stock worth $1,181,000 after acquiring an additional 117 shares in the last quarter. Institutional investors own 99.59% of the company’s stock.

About Sun Communities

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.