Sun Communities, Inc. (NYSE:SUI) Given Consensus Rating of “Hold” by Analysts

Shares of Sun Communities, Inc. (NYSE:SUI) have earned an average recommendation of “Hold” from the fourteen analysts that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $137.08.

Several research analysts have recently commented on SUI shares. BMO Capital Markets lowered their target price on shares of Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Royal Bank of Canada dropped their price objective on Sun Communities from $147.00 to $135.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Truist Financial reduced their target price on Sun Communities from $138.00 to $131.00 and set a “hold” rating on the stock in a report on Wednesday, December 11th. Evercore ISI boosted their price target on Sun Communities from $149.00 to $150.00 and gave the company an “in-line” rating in a research note on Monday, October 21st. Finally, Jefferies Financial Group began coverage on shares of Sun Communities in a research report on Thursday, October 17th. They issued a “buy” rating and a $160.00 target price for the company.

Institutional Trading of Sun Communities

Large investors have recently made changes to their positions in the company. Victory Capital Management Inc. increased its position in shares of Sun Communities by 6.9% during the third quarter. Victory Capital Management Inc. now owns 77,203 shares of the real estate investment trust’s stock worth $10,434,000 after acquiring an additional 5,008 shares in the last quarter. FMR LLC lifted its position in Sun Communities by 37.6% in the 3rd quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust’s stock valued at $707,329,000 after acquiring an additional 1,430,630 shares in the last quarter. KBC Group NV boosted its stake in Sun Communities by 303.3% during the 3rd quarter. KBC Group NV now owns 109,939 shares of the real estate investment trust’s stock valued at $14,858,000 after purchasing an additional 82,682 shares during the last quarter. AMG National Trust Bank bought a new stake in Sun Communities during the 3rd quarter worth approximately $1,690,000. Finally, Swedbank AB raised its stake in shares of Sun Communities by 52.8% in the third quarter. Swedbank AB now owns 162,368 shares of the real estate investment trust’s stock worth $21,944,000 after purchasing an additional 56,132 shares during the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Sun Communities Trading Down 1.9 %

Shares of SUI stock opened at $120.41 on Thursday. Sun Communities has a 12-month low of $110.98 and a 12-month high of $147.83. The firm has a 50 day moving average price of $128.55 and a two-hundred day moving average price of $128.30. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $15.34 billion, a PE ratio of 64.74, a price-to-earnings-growth ratio of 0.51 and a beta of 0.88.

Sun Communities (NYSE:SUI) last released its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.20). The firm had revenue of $939.90 million for the quarter, compared to analyst estimates of $980.41 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.57 earnings per share. As a group, analysts predict that Sun Communities will post 6.78 earnings per share for the current year.

Sun Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.76 annualized dividend and a dividend yield of 3.12%. Sun Communities’s dividend payout ratio is currently 202.15%.

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.