Truist reduced its FY27 FFO estimate for SUI to $7.15 after the company sold its UK portfolio, shifting focus to manufactured housing.
Truist lowered its price target for Sun Communities (SUI) to $138 from $141 and maintained a Buy rating on June 26, 2026. The firm adjusted its FY27 funds from operations (FFO) estimate to $7.15 from $7.43 following the announced UK portfolio sale, which is expected to shift manufactured housing to about 70% of net operating income.
Prior to Truist’s move, RBC Capital and Wells Fargo also reduced their price targets for SUI this month. RBC Capital cut its target to $149 from $151, while Wells Fargo lowered its estimate to $142 from $150, both citing the UK asset sale as a key factor in their revised models.
The UK exit removes a perceived overhang on the stock, with analysts noting the transaction aligns with expectations despite a significant impairment. The shift in portfolio composition is seen as supportive of a valuation premium over multifamily REITs.