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

Shares of Sun Communities, Inc. (NYSE:SUI) have earned a consensus recommendation of “Hold” from the eleven brokerages that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $136.60.

Several analysts have issued reports on the stock. Wells Fargo & Company decreased their price target on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. Jefferies Financial Group decreased their target price on Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Sun Communities in a report on Friday, February 28th. Finally, Truist Financial lifted their price objective on Sun Communities from $136.00 to $142.00 and gave the stock a “buy” rating in a report on Monday, March 10th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Aster Capital Management DIFC Ltd increased its stake in shares of Sun Communities by 263.6% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 232 shares during the period. Brooklyn Investment Group bought a new position in Sun Communities in the third quarter valued at about $41,000. Smartleaf Asset Management LLC increased its position in Sun Communities by 45.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 124 shares during the period. CKW Financial Group raised its holdings in Sun Communities by 45.0% during the 4th quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 135 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in Sun Communities during the 3rd quarter worth about $60,000. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Stock Performance

SUI opened at $130.04 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 stock’s 50 day moving average price is $128.88 and its two-hundred day moving average price is $129.19. The firm has a market capitalization of $16.59 billion, a P/E ratio of 69.91 and a beta of 0.90. Sun Communities has a 12-month low of $110.98 and a 12-month high of $147.83.

Sun Communities (NYSE:SUI) last posted its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.02. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The company had revenue of $745.90 million during the quarter, compared to analysts’ expectations of $724.68 million. On average, equities analysts forecast that Sun Communities will post 6.77 earnings per share for the current year.

Sun Communities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date is Monday, March 31st. Sun Communities’s dividend payout ratio is currently 508.11%.

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.