Mizuho Lowers Sun Communities (NYSE:SUI) Price Target to $136.00

Sun Communities (NYSE:SUI) had its target price lowered by Mizuho from $137.00 to $136.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. Mizuho’s price objective points to a potential upside of 19.37% from the stock’s previous close.

Several other research firms have also commented on SUI. Wall Street Zen lowered shares of Sun Communities from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Odeon Capital Group set a $135.00 target price on shares of Sun Communities in a research note on Thursday, July 9th. Royal Bank Of Canada downgraded shares of Sun Communities from a “moderate buy” rating to a “hold” rating in a research note on Monday, August 10th. Barclays increased their target price on shares of Sun Communities from $146.00 to $147.00 and gave the stock an “overweight” rating in a report on Monday, August 17th. Finally, Truist Financial dropped their price target on shares of Sun Communities from $138.00 to $136.00 and set a “buy” rating for the company in a research note on Friday, September 11th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Sun Communities currently has an average rating of “Moderate Buy” and an average price target of $139.30.

Sun Communities Price Performance

SUI opened at $113.94 on Monday. The stock’s 50-day moving average price is $120.23 and its 200 day moving average price is $124.01. Sun Communities has a 12-month low of $113.18 and a 12-month high of $137.85. The firm has a market cap of $13.88 billion, a price-to-earnings ratio of -16.07, a PEG ratio of 5.19 and a beta of 0.77. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.70.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in Sun Communities in the second quarter valued at $1,649,715,000. Norges Bank purchased a new position in shares of Sun Communities during the fourth quarter worth about $753,364,000. Geode Capital Management LLC grew its holdings in shares of Sun Communities by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,338,358 shares of the real estate investment trust’s stock worth $288,937,000 after purchasing an additional 9,539 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Sun Communities by 2.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,812,301 shares of the real estate investment trust’s stock worth $228,280,000 after purchasing an additional 51,588 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Sun Communities by 2.1% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,536,249 shares of the real estate investment trust’s stock worth $184,212,000 after purchasing an additional 31,497 shares in the last quarter. 99.59% of the stock is owned by hedge funds and other institutional investors.

Sun Communities Company Profile

Sun Communities, Inc (NYSE:SUI) is a real estate investment trust that owns, operates and develops residential and recreational properties. Its portfolio is centered on manufactured housing communities, where residents typically lease sites for manufactured homes, as well as recreational vehicle communities and resorts that provide short-term and long-term accommodations.

The company also operates marinas, offering services that may include boat slips, storage, fueling and related amenities.