On Nov 08, major Wall Street analysts update their ratings for $Sun Communities Inc (SUI.US)$, with price targets ranging from $135 to $150.
Evercore analyst Steve Sakwa maintains with a hold rating, and adjusts the target price from $149 to $150.
BMO Capital analyst John Kim maintains with a buy rating, and adjusts the target price from $136 to $138.
RBC Capital analyst Brad Heffern maintains with a buy rating, and adjusts the target price from $147 to $135.
Truist Financial analyst Anthony Hau maintains with a hold rating.
Furthermore, according to the comprehensive report, the opinions of $Sun Communities Inc (SUI.US)$'s main analysts recently are as follows:
Sun Communities experienced one of the most challenging quarters in recent memory, with a combination of increased expenses, subdued demand in the transient/marina segment, hurricane repercussions, and a slower response in adjusting expenses negatively impacting the company's outlook. As a result, there has been a 5% decrease in the guidance for 2024.
Sun Communities' third-quarter results were notably disappointing, marked by a core FFO per share miss and lowered guidance. Concurrently, the company announced substantial management changes, including the retirements of the CEO and a board member. It is anticipated that these adjustments may precede more considerable strategic shifts, potentially involving the divestiture or sale of Park Holidays or Safe Harbor.
The relative resiliency of the business model for Sun Communities is acknowledged, yet the company's quarterly reports have shown a lack of resilience. With an adjustment in guidance for North America same-store Net Operating Income (NOI) growth by 2.25% across every segment, there is a cautious approach until the company can demonstrate consistent, stable quarters.
Here are the latest investment ratings and price targets for $Sun Communities Inc (SUI.US)$ from 4 analysts:
Note:
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