Sun Communities, Inc. (NYSE:SUI) Stock Now Rated "Moderate Buy" by Wall Street Brokerages

Key Points

• Analysts give Sun Communities a “Moderate Buy” consensus: Among 17 analysts, eight rate the stock a buy, two a strong buy, six a hold and one a sell. The average 12-month price target is $139.30.
• Shares were trading below analysts’ targets: SUI opened at $111.80, near its 52-week low of $110.39, versus a 52-week high of $137.85. Institutional investors own 99.59% of the company.
• Sun Communities declared a quarterly dividend of $1.12 per share, equivalent to $4.48 annually and a 4.0% yield, with payment scheduled for October 15 to shareholders of record on September 30.

Sun Communities, Inc. (NYSE:SUI - Get Free Report) has been given an average recommendation of "Moderate Buy" by the seventeen analysts that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $139.30.

Several research firms have recently issued reports on SUI. Bank of America raised Sun Communities from an "underperform" rating to a "neutral" rating and set a $140.00 price target for the company in a research note on Thursday, August 27th. Evercore set a $136.00 price objective on shares of Sun Communities in a research note on Monday, September 21st. Royal Bank Of Canada downgraded shares of Sun Communities from a "moderate buy" rating to a "hold" rating in a report on Monday, August 10th. Weiss Ratings lowered shares of Sun Communities from a "hold (c)" rating to a "sell (d+)" rating in a research report on Wednesday, August 12th. Finally, UBS Group set a $136.00 target price on shares of Sun Communities in a research note on Monday, September 21st.

Institutional Investors Weigh In On Sun Communities

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Oslo Pensjonsforsikring AS bought a new position in Sun Communities during the 1st quarter valued at $49,000. Avalon Trust Co bought a new stake in shares of Sun Communities in the 2nd quarter worth $61,000. V Square Quantitative Management LLC raised its stake in shares of Sun Communities by 36.7% in the 1st quarter. V Square Quantitative Management LLC now owns 548 shares of the real estate investment trust's stock worth $69,000 after buying an additional 147 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its stake in shares of Sun Communities by 31.1% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 590 shares of the real estate investment trust's stock worth $73,000 after buying an additional 140 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Sun Communities in the second quarter valued at $72,000. Institutional investors own 99.59% of the company's stock.

Sun Communities Price Performance

NYSE SUI opened at $111.80 on Wednesday. The company has a 50-day moving average price of $119.41 and a two-hundred day moving average price of $123.15. Sun Communities has a 52 week low of $110.39 and a 52 week high of $137.85. The stock has a market cap of $13.62 billion, a price-to-earnings ratio of -15.77, a price-to-earnings-growth ratio of 4.74 and a beta of 0.77. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.70.

Sun Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a $1.12 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $4.48 annualized dividend and a dividend yield of 4.0%. Sun Communities's dividend payout ratio (DPR) is -63.19%.

About Sun Communities

Sun Communities, Inc is a real estate investment trust that owns, operates and develops residential communities and recreational properties. Its portfolio primarily includes manufactured housing communities, recreational vehicle resorts and marinas.

The company provides housing and leisure-oriented accommodations through communities offering manufactured homes, seasonal and long-term RV sites, and related amenities. Its marina operations include wet slips, dry storage and other services for boat owners.

Founded in 1975, Sun Communities serves residents, vacationers and boaters across the United States, with additional operations in the United Kingdom.

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