Jefferies Financial Group Issues Pessimistic Forecast for Sun Communities (NYSE:SUI) Stock Price

Sun Communities (NYSE:SUI) had its price target decreased by Jefferies Financial Group from $145.00 to $142.00 in a report released on Thursday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the real estate investment trust’s stock.

Several other brokerages have also weighed in on SUI. Evercore ISI boosted their price objective on Sun Communities from $149.00 to $150.00 and gave the company an “in-line” rating in a report on Monday, October 21st. StockNews.com lowered Sun Communities from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Royal Bank of Canada reduced their price objective on shares of Sun Communities from $147.00 to $135.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Robert W. Baird downgraded Sun Communities from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $145.00 to $126.00 in a research note on Thursday, November 7th. Finally, Baird R W downgraded shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Sun Communities has an average rating of “Hold” and a consensus target price of $135.69.

Sun Communities Trading Down 0.5 %

NYSE SUI opened at $122.40 on Thursday. The company’s 50 day moving average price is $126.13 and its 200 day moving average price is $128.75. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. Sun Communities has a one year low of $110.98 and a one year high of $147.83. The firm has a market capitalization of $15.59 billion, a price-to-earnings ratio of 65.81, a PEG 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 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 firm had revenue of $939.90 million for the quarter, compared to analyst estimates of $980.41 million. During the same period in the previous year, the business posted $2.57 earnings per share. Sun Communities’s revenue for the quarter was down 4.4% on a year-over-year basis. On average, sell-side analysts predict that Sun Communities will post 6.78 EPS for the current year.

Sun Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.94 per share. The ex-dividend date is Tuesday, December 31st. This represents a $3.76 annualized dividend and a yield of 3.07%. Sun Communities’s dividend payout ratio (DPR) is currently 202.15%.

Institutional Investors Weigh In On Sun Communities

Large investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its position in Sun Communities by 37.6% during the 3rd quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust’s stock worth $707,329,000 after acquiring an additional 1,430,630 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Sun Communities by 3.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,949,862 shares of the real estate investment trust’s stock worth $354,986,000 after acquiring an additional 111,569 shares during the period. Daiwa Securities Group Inc. boosted its position in shares of Sun Communities by 24.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 2,195,884 shares of the real estate investment trust’s stock valued at $264,253,000 after acquiring an additional 424,842 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Sun Communities by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,784,547 shares of the real estate investment trust’s stock valued at $214,752,000 after acquiring an additional 10,592 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Sun Communities by 1,061.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,323,479 shares of the real estate investment trust’s stock worth $178,868,000 after buying an additional 1,209,522 shares in the last quarter. Institutional investors 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.