Sun Communities (NYSE:SUI) Given New $142.00 Price Target at Wells Fargo & Company

Sun Communities (NYSE:SUI) had its price target reduced by Wells Fargo & Company from $150.00 to $142.00 in a research note published on Friday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the real estate investment trust’s stock.

Other analysts also recently issued research reports about the company. Evercore restated an “outperform” rating and issued a $144.00 target price on shares of Sun Communities in a research report on Wednesday, April 29th. Weiss Ratings downgraded Sun Communities from a “buy (b-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Colliers Securities upgraded Sun Communities from a “neutral” rating to a “buy” rating and set a $150.00 target price for the company in a research report on Friday, May 22nd. Mizuho initiated coverage on shares of Sun Communities in a report on Tuesday, March 31st. They issued an “outperform” rating and a $143.00 target price on the stock. Finally, Citigroup raised their target price on shares of Sun Communities from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Ten analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Sun Communities presently has an average rating of “Moderate Buy” and an average target price of $141.27.

Sun Communities Stock Down 1.2%

Shares of NYSE SUI opened at $123.47 on Friday. Sun Communities has a 52 week low of $115.53 and a 52 week high of $137.85. The business has a 50-day simple moving average of $127.02 and a two-hundred day simple moving average of $127.55. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 0.60. The company has a market cap of $15.22 billion, a P/E ratio of 11.21, a P/E/G ratio of 4.12 and a beta of 0.82.

Sun Communities (NYSE:SUI) last issued its earnings results on Monday, April 27th. The real estate investment trust reported ($0.07) EPS for the quarter, missing the consensus estimate of $1.31 by ($1.38). The company had revenue of $500.50 million during the quarter, compared to the consensus estimate of $472.40 million. Sun Communities had a return on equity of 0.16% and a net margin of 62.29%.The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.26 EPS. Sun Communities has set its Q2 2026 guidance at 1.710-1.790 EPS and its FY 2026 guidance at 6.870-7.070 EPS. Research analysts anticipate that Sun Communities will post 6.92 earnings per share for the current fiscal year.

Sun Communities Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 3.6%. This is a positive change from Sun Communities’s previous quarterly dividend of $1.04. The ex-dividend date of this dividend was Tuesday, March 31st. Sun Communities’s dividend payout ratio is presently 40.69%.

Insider Buying and Selling at Sun Communities

In other news, EVP Fernando Castro-Caratini sold 23,750 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $124.43, for a total transaction of $2,955,212.50. Following the transaction, the executive vice president directly owned 9,998 shares of the company’s stock, valued at $1,244,051.14. This represents a 70.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Clunet R. Lewis sold 3,200 shares of the company’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $136.15, for a total value of $435,680.00. The SEC filing for this sale provides additional information. Insiders sold 30,750 shares of company stock worth $3,907,731 over the last three months. Corporate insiders own 1.58% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SUI. Vanguard Group Inc. increased its position in Sun Communities by 1.4% in the third quarter. Vanguard Group Inc. now owns 18,289,956 shares of the real estate investment trust’s stock worth $2,359,404,000 after buying an additional 249,501 shares in the last quarter. Handelsbanken Fonder AB increased its position in Sun Communities by 31.5% in the third quarter. Handelsbanken Fonder AB now owns 43,298 shares of the real estate investment trust’s stock worth $5,585,000 after buying an additional 10,382 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in Sun Communities in the third quarter worth about $3,406,000. Land & Buildings Investment Management LLC increased its position in Sun Communities by 21.2% in the third quarter. Land & Buildings Investment Management LLC now owns 234,797 shares of the real estate investment trust’s stock worth $30,289,000 after buying an additional 41,050 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co purchased a new stake in Sun Communities in the third quarter worth about $2,002,000. 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.