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

Shares of Sun Communities, Inc. (NYSE:SUI) have received an average recommendation of “Hold” from the fourteen research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $139.08.

Several equities analysts have recently issued reports on SUI shares. Jefferies Financial Group started coverage on Sun Communities in a research report on Thursday, October 17th. They set a “buy” rating and a $160.00 target price for the company. BMO Capital Markets dropped 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. UBS Group downgraded Sun Communities from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $155.00 to $134.00 in a report on Thursday, November 14th. Robert W. Baird cut Sun Communities from an “outperform” rating to a “neutral” rating and cut their target price for the company from $145.00 to $126.00 in a research note on Thursday, November 7th. Finally, Royal Bank of Canada decreased their price target on shares of Sun Communities from $147.00 to $135.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th.

Institutional Trading of Sun Communities

A number of hedge funds have recently made changes to their positions in the business. Assetmark Inc. lifted its holdings in Sun Communities by 2,111.1% during the 3rd quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 190 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Sun Communities in the third quarter valued at about $41,000. Quest Partners LLC raised its position in shares of Sun Communities by 12,700.0% in the second quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 381 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Sun Communities during the 3rd quarter worth about $60,000. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Sun Communities during the 2nd quarter worth about $62,000. 99.59% of the stock is owned by institutional investors and hedge funds.

Sun Communities Trading Down 0.8 %

SUI opened at $127.46 on Friday. Sun Communities has a 1-year low of $110.98 and a 1-year high of $147.83. The stock has a market capitalization of $16.24 billion, a PE ratio of 68.53, a PEG ratio of 0.54 and a beta of 0.91. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. The firm has a 50-day moving average price of $132.51 and a two-hundred day moving average price of $127.49.

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). The firm had revenue of $939.90 million during the quarter, compared to the consensus estimate of $980.41 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The firm’s quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.57 earnings per share. As a group, equities analysts anticipate that Sun Communities will post 6.78 earnings per share for the current fiscal year.

Sun Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.94 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.76 annualized dividend and a yield of 2.95%. Sun Communities’s dividend payout ratio (DPR) 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.