Brokerages Set Sun Communities, Inc. (NYSE:SUI) PT at $139.08

Sun Communities, Inc. (NYSE:SUI) has received a consensus rating of “Hold” from the fourteen ratings firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $139.08.

A number of brokerages have recently issued reports on SUI. Jefferies Financial Group initiated coverage on Sun Communities in a research report on Thursday, October 17th. They set a “buy” rating and a $160.00 target price on the stock. StockNews.com downgraded shares of Sun Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Truist Financial increased their target price on Sun Communities from $127.00 to $138.00 and gave the stock a “hold” rating in a report on Tuesday, August 13th. BMO Capital Markets lowered their price target on Sun Communities from $145.00 to $138.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Finally, UBS Group downgraded shares of Sun Communities from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $155.00 to $134.00 in a research report on Thursday, November 14th.

Institutional Trading of Sun Communities

Large investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. increased its stake in Sun Communities by 6.9% during the 3rd quarter. Victory Capital Management Inc. now owns 77,203 shares of the real estate investment trust’s stock valued at $10,434,000 after buying an additional 5,008 shares during the period. KBC Group NV raised its holdings in Sun Communities by 303.3% during the third quarter. KBC Group NV now owns 109,939 shares of the real estate investment trust’s stock worth $14,858,000 after purchasing an additional 82,682 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in Sun Communities during the second quarter worth approximately $13,164,000. AMG National Trust Bank acquired a new stake in Sun Communities in the third quarter worth approximately $1,690,000. Finally, Virtu Financial LLC bought a new position in Sun Communities during the 1st quarter valued at $1,106,000. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Sun Communities Trading Down 1.4 %

NYSE:SUI opened at $127.03 on Friday. Sun Communities has a 12 month low of $110.98 and a 12 month high of $147.83. The business’s 50-day moving average is $131.82 and its two-hundred day moving average is $127.71. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. The firm has a market capitalization of $16.18 billion, a PE ratio of 68.30, a price-to-earnings-growth ratio of 0.54 and a beta of 0.91.

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). The company had revenue of $939.90 million during the quarter, compared to analysts’ expectations of $980.41 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The firm’s revenue was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.57 EPS. Research analysts predict that Sun Communities will post 6.78 earnings per share for the current fiscal year.

Sun Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.76 annualized dividend and a dividend yield of 2.96%. Sun Communities’s dividend payout ratio is presently 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.