Sun Communities’ EqualWeight Rating Maintained by Analyst with Lowered Price Target
November 17, 2023
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Sun Communities ($NYSE:SUI) (NYSE:SUI) recently had its EqualWeight rating maintained by a leading analyst, though with a lowered price target. Sun Communities is a real estate investment trust that owns and operates manufactured home and recreational vehicle communities throughout the United States. The company also provides various rental services in the communities. The reduced target is due to the slowdown in Sun Communities’ rental growth and occupancy levels during the coronavirus pandemic. Despite this, the analyst believes Sun Communities is still well-positioned for a long-term recovery, noting that it has a solid balance sheet and healthy dividend payout.
The analyst praised Sun Communities for its continual focus on improving service quality, as well as its ability to raise prices quicker than peers in the space. Furthermore, the company has several initiatives for additional growth such as its new land-lease communities and American LandMaster side operations. They believe the company is in a solid position to weather the storm of the pandemic and come out on top in the future.
Stock Price
On Tuesday, SUN COMMUNITIES‘ stock opened at $116.7 and closed at $120.5, a rise of 5.8% from its prior closing price of 113.9. Despite the lowered target price, SUN COMMUNITIES’ stock price rose steadily throughout the day, indicating that investors remain confident in the company’s future prospects. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Sun Communities. More…
| Total Revenues | Net Income | Net Margin |
| 3.12k | 227.4 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Sun Communities. More…
| Operations | Investing | Financing |
| 718 | -1.14k | 369.4 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Sun Communities. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 17.61k | 9.46k | 62.19 |
Key Ratios Snapshot
Some of the financial key ratios for Sun Communities are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | 17.8% |
| FCF Margin | ROE | ROA |
| – | – | – |
Analysis
At GoodWhale, we have conducted an analysis of SUN COMMUNITIES‘ fundamentals. Our analysis shows that according to Star Chart, SUN COMMUNITIES is strong in terms of asset, dividend, growth, and profitability. Additionally, SUN COMMUNITIES has an intermediate health score of 6/10 with regard to its cashflows and debt. This score implies that SUN COMMUNITIES is likely to pay off its debt and fund its future operations. Therefore, we believe that this type of company would be attractive to dividend-focused investors who are seeking a long-term investment with steady returns. Additionally, value investors may also be interested in SUN COMMUNITIES due to its strong fundamentals and commitment to dividend payments. More…
Peers
The competition between Sun Communities Inc and its competitors American Homes 4 Rent, American Campus Communities Inc, Canadian Apartment Properties Real Estate Investment Trust is fierce. All four companies are vying for the top spot in the market and are constantly innovating and improving their offerings to attract and retain customers. While Sun Communities Inc may have the edge in terms of size and scale, its competitors are not far behind and are constantly challenging it.
– American Homes 4 Rent ($NYSE:AMH)
American Homes 4 Rent is a real estate investment trust that focuses on acquiring, renovating, and leasing single-family homes as rental properties. The company was founded in 2012 and is based in Agoura Hills, California. As of December 31, 2020, American Homes 4 Rent owned 53,949 single-family homes in 26 states.
– American Campus Communities Inc ($TSX:CAR.UN)
Canadian Apartment Properties Real Estate Investment Trust is a real estate investment trust that owns, operates and invests in apartment buildings in Canada. The company has a market cap of $6.83 billion as of 2022.
Summary
Sun Communities, Inc. is an investment opportunity for investors looking to capitalize on an increasing demand for lifestyle and recreational services. Recently, an analyst has maintained an equal weight rating on the company with a lowered price target. This news caused the stock price to move up the same day. Investors should consider the fact that Sun Communities is a leading provider of lifestyle and recreational services in North America, offering quality and value to its residents and customers.
Additionally, Sun Communities offers more diverse options and services than competitors, including affordable housing options for seniors, millennials, and families. Investors may benefit from considering Sun Communities as a potential long-term investment opportunity.
