Sun Communities (NYSE:SUI) Coverage Initiated by Analysts at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of Sun Communities (NYSE:SUI) in a report released on Thursday morning, MarketBeat reports. The brokerage issued a buy rating and a $160.00 price objective on the real estate investment trust’s stock.

Several other equities analysts also recently issued reports on SUI. Truist Financial upped their price objective on shares of Sun Communities from $127.00 to $138.00 and gave the company a “hold” rating in a research note on Tuesday, August 13th. UBS Group raised Sun Communities to a “strong-buy” rating in a research note on Thursday, October 10th. Royal Bank of Canada raised their price objective on Sun Communities from $131.00 to $137.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Wells Fargo & Company upped their target price on Sun Communities from $123.00 to $154.00 and gave the company an “equal weight” rating in a research note on Thursday, September 19th. Finally, Evercore ISI lowered Sun Communities from an “outperform” rating to an “inline” rating and raised their price target for the stock from $144.00 to $149.00 in a research note on Monday, September 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.82.

Sun Communities Trading Down 1.0 %

Shares of SUI stock opened at $136.19 on Thursday. The company has a market capitalization of $16.97 billion, a price-to-earnings ratio of 117.41, a PEG ratio of 0.95 and a beta of 0.91. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.09. The firm has a 50-day moving average price of $135.31 and a 200 day moving average price of $125.74. Sun Communities has a twelve month low of $102.74 and a twelve month high of $147.83.

Sun Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend was Monday, September 30th. Sun Communities’s payout ratio is currently 324.14%.

Insider Buying and Selling

In other Sun Communities news, CEO Baxter Underwood sold 3,000 shares of Sun Communities stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $131.43, for a total transaction of $394,290.00. Following the transaction, the chief executive officer now directly owns 63,462 shares of the company’s stock, valued at $8,340,810.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.89% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SUI. Price T Rowe Associates Inc. MD grew its stake in shares of Sun Communities by 50.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,302,804 shares of the real estate investment trust’s stock valued at $424,677,000 after buying an additional 1,105,306 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Sun Communities by 3.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,949,862 shares of the real estate investment trust’s stock valued at $354,986,000 after acquiring an additional 111,569 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Sun Communities by 24.0% during the second quarter. Daiwa Securities Group Inc. now owns 2,195,884 shares of the real estate investment trust’s stock valued at $264,253,000 after purchasing an additional 424,842 shares during the period. Centersquare Investment Management LLC lifted its position in shares of Sun Communities by 4.7% during the first quarter. Centersquare Investment Management LLC now owns 2,171,868 shares of the real estate investment trust’s stock worth $279,259,000 after purchasing an additional 96,529 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Sun Communities by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,784,547 shares of the real estate investment trust’s stock valued at $214,752,000 after purchasing an additional 10,592 shares during the period. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Company Profile

Established in 1975, Sun Communities, Inc became a publicly owned corporation in December 1993. The Company is a fully integrated REIT listed on the New York Stock Exchange under the symbol: SUI. As of December 31, 2023, the Company owned, operated, or had an interest in a portfolio of 667 developed MH, RV and Marina properties comprising 179,310 developed sites and approximately 48,030 wet slips and dry storage spaces in the U.S., the UK and Canada.