Sun Communities, Inc. (NYSE:SUI) Given Average Recommendation of “Hold” by Brokerages

Shares of Sun Communities, Inc. (NYSE:SUI) have earned an average recommendation of “Hold” from the fourteen research firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and five have given a 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 $135.69.

A number of analysts recently weighed in on the stock. Evercore ISI upped their target price on shares of Sun Communities from $149.00 to $150.00 and gave the company an “in-line” rating in a research note on Monday, October 21st. Bank of America cut Sun Communities from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $147.00 to $114.00 in a report on Tuesday, November 12th. BMO Capital Markets decreased their price target on Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Truist Financial dropped their price objective on Sun Communities from $138.00 to $131.00 and set a “hold” rating for the company in a research note on Wednesday, December 11th. Finally, StockNews.com downgraded shares of Sun Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th.

Sun Communities Trading Down 1.4 %

Shares of SUI stock opened at $120.89 on Monday. The firm has a market capitalization of $15.40 billion, a P/E ratio of 64.99, a price-to-earnings-growth ratio of 0.51 and a beta of 0.89. Sun Communities has a 1 year low of $110.98 and a 1 year high of $147.83. The firm’s fifty day simple moving average is $124.99 and its 200 day simple moving average is $129.13. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93.

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

Sun Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Tuesday, December 31st. Sun Communities’s dividend payout ratio (DPR) is 202.15%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. First Hawaiian Bank grew its holdings in shares of Sun Communities by 29.4% in the 4th quarter. First Hawaiian Bank now owns 22,440 shares of the real estate investment trust’s stock valued at $2,759,000 after buying an additional 5,100 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Sun Communities by 7.7% in the fourth quarter. Nordea Investment Management AB now owns 10,633 shares of the real estate investment trust’s stock valued at $1,307,000 after buying an additional 756 shares during the period. Central Pacific Bank Trust Division increased its position in shares of Sun Communities by 97.2% during the fourth quarter. Central Pacific Bank Trust Division now owns 3,500 shares of the real estate investment trust’s stock worth $430,000 after acquiring an additional 1,725 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Sun Communities during the third quarter worth $1,564,000. Finally, Toronto Dominion Bank lifted its position in Sun Communities by 31.6% in the 3rd quarter. Toronto Dominion Bank now owns 15,682 shares of the real estate investment trust’s stock valued at $2,119,000 after acquiring an additional 3,766 shares in the last quarter. 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.