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

Sun Communities, Inc. (NYSE:SUI) has earned an average recommendation of “Hold” from the twelve brokerages that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $134.55.

A number of analysts have commented on the stock. StockNews.com lowered shares of Sun Communities from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Bank of America cut Sun Communities from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $147.00 to $114.00 in a research note on Tuesday, November 12th. Jefferies Financial Group dropped their price objective on Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. BMO Capital Markets reduced their target price on Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Finally, Robert W. Baird cut shares of Sun Communities from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $145.00 to $126.00 in a report on Thursday, November 7th.

Institutional Investors Weigh In On Sun Communities

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Legacy Trust bought a new position in shares of Sun Communities during the 4th quarter worth approximately $625,000. Aurora Investment Managers LLC. grew its stake in Sun Communities by 9.7% in the fourth quarter. Aurora Investment Managers LLC. now owns 27,490 shares of the real estate investment trust’s stock valued at $3,380,000 after purchasing an additional 2,435 shares in the last quarter. Victory Capital Management Inc. increased its holdings in 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 buying an additional 5,008 shares during the last quarter. VCI Wealth Management LLC acquired a new position in Sun Communities during the fourth quarter worth approximately $1,312,000. Finally, FMR LLC raised its stake 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 during the period. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Stock Down 0.8 %

Shares of NYSE:SUI opened at $125.30 on Friday. 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 firm has a market cap of $15.96 billion, a P/E ratio of 67.37 and a beta of 0.90. Sun Communities has a 12 month low of $110.98 and a 12 month high of $147.83. The company’s 50-day moving average price is $124.44 and its two-hundred day moving average price is $129.60.

Sun Communities (NYSE:SUI) last posted its quarterly earnings data 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 company had revenue of $939.90 million during the quarter, compared to the consensus estimate 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 quarter last year, the firm earned $2.57 EPS. As a group, research analysts forecast that Sun Communities will post 6.77 EPS for the current fiscal year.

Sun Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.94 per share. The ex-dividend date was Tuesday, December 31st. This represents a $3.76 annualized dividend and a dividend yield of 3.00%. Sun Communities’s dividend payout ratio is currently 202.15%.

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.