Sun Communities, Inc. (NYSE:SUI) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Sun Communities, Inc. (NYSE:SUI) has received an average recommendation of “Moderate Buy” from the twelve ratings firms that are covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $143.91.

A number of analysts have commented on SUI shares. StockNews.com cut shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Friday, October 18th. Wells Fargo & Company upped their price target on shares of Sun Communities from $123.00 to $154.00 and gave the company an “equal weight” rating in a research report on Thursday, September 19th. Royal Bank of Canada upped their price target on shares of Sun Communities from $131.00 to $137.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Robert W. Baird upped their price target on shares of Sun Communities from $144.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, September 3rd. Finally, Jefferies Financial Group started coverage on shares of Sun Communities in a research report on Thursday, October 17th. They set a “buy” rating and a $160.00 price target on the stock.

Sun Communities Stock Performance

NYSE SUI opened at $131.25 on Wednesday. The company has a market capitalization of $16.36 billion, a price-to-earnings ratio of 113.15, a PEG ratio of 0.98 and a beta of 0.91. Sun Communities has a twelve month low of $107.31 and a twelve month high of $147.83. The stock has a fifty day simple moving average of $135.82 and a 200 day simple moving average of $126.27. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.09.

Sun Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.94 dividend. The ex-dividend date was Monday, September 30th. This represents a $3.76 annualized dividend and a yield of 2.86%. Sun Communities’s payout ratio is 324.14%.

Insider Activity at Sun Communities

In related news, CEO Baxter Underwood sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $131.43, for a total value of $394,290.00. Following the transaction, the chief executive officer now owns 63,462 shares of the company’s stock, valued at approximately $8,340,810.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.89% of the stock is owned by insiders.

Hedge Funds Weigh In On Sun Communities

Several large investors have recently added to or reduced their stakes in SUI. Wealth Enhancement Advisory Services LLC purchased a new stake in Sun Communities in the 1st quarter valued at about $1,504,000. Farmers & Merchants Investments Inc. purchased a new stake in Sun Communities in the 1st quarter valued at about $26,000. Norden Group LLC increased its stake in Sun Communities by 67.5% in the 1st quarter. Norden Group LLC now owns 3,392 shares of the real estate investment trust’s stock valued at $435,000 after buying an additional 1,367 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in Sun Communities by 11.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 9,277 shares of the real estate investment trust’s stock valued at $1,193,000 after buying an additional 959 shares during the last quarter. Finally, SpiderRock Advisors LLC purchased a new stake in Sun Communities in the 1st quarter valued at about $522,000. Institutional investors own 99.59% of the company’s stock.

About Sun Communities

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.