Jeff Blau Purchases 3,665 Shares of Sun Communities, Inc. (NYSE:SUI) Stock

Sun Communities, Inc. (NYSE:SUI - Get Free Report) Director Jeff Blau acquired 3,665 shares of the business's stock in a transaction on Friday, May 23rd. The shares were bought at an average price of $117.99 per share, with a total value of $432,433.35. Following the completion of the transaction, the director now directly owns 3,665 shares of the company's stock, valued at approximately $432,433.35. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Sun Communities Stock Up 0.5%

Shares of NYSE SUI traded up $0.67 during trading on Monday, hitting $125.11. 742,773 shares of the company traded hands, compared to its average volume of 841,212. The business's fifty day moving average is $123.00 and its 200 day moving average is $125.44. Sun Communities, Inc. has a fifty-two week low of $109.22 and a fifty-two week high of $147.83. The firm has a market capitalization of $15.97 billion, a price-to-earnings ratio of 67.26 and a beta of 0.86. 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 (NYSE:SUI - Get Free Report) last posted its earnings results on Monday, May 5th. The real estate investment trust reported $1.26 earnings per share for the quarter, topping analysts' consensus estimates of $1.18 by $0.08. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The company had revenue of $470.20 million for the quarter, compared to analyst estimates of $538.63 million. During the same quarter in the prior year, the business posted $1.19 EPS. The firm's revenue was up .2% compared to the same quarter last year. Equities research analysts predict that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $4.16 annualized dividend and a dividend yield of 3.33%. This is a boost from Sun Communities's previous quarterly dividend of $0.94. Sun Communities's dividend payout ratio (DPR) is 670.97%.

Institutional Investors Weigh In On Sun Communities

A number of large investors have recently added to or reduced their stakes in the company. Twin Tree Management LP purchased a new position in shares of Sun Communities during the first quarter valued at approximately $29,000. Opal Wealth Advisors LLC purchased a new position in Sun Communities in the first quarter worth about $29,000. Ransom Advisory Ltd bought a new stake in shares of Sun Communities during the first quarter valued at approximately $31,000. Aster Capital Management DIFC Ltd raised its stake in Sun Communities by 263.6% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust's stock worth $39,000 after buying an additional 232 shares in the last quarter. Finally, GKV Capital Management Co. Inc. acquired a new position in shares of Sun Communities during the first quarter worth $42,000. Institutional investors own 99.59% of the company's stock.

Wall Street Analysts Forecast Growth

SUI has been the subject of several research reports. Truist Financial set a $137.00 price objective on shares of Sun Communities and gave the stock a "buy" rating in a research report on Tuesday, June 3rd. Jefferies Financial Group started coverage on shares of Sun Communities in a research report on Tuesday, April 8th. They issued a "buy" rating and a $150.00 price target for the company. Barclays initiated coverage on shares of Sun Communities in a research report on Thursday, May 29th. They issued an "overweight" rating and a $141.00 price target for the company. JMP Securities restated a "market outperform" rating and set a $140.00 price objective on shares of Sun Communities in a research report on Tuesday, May 20th. Finally, Robert W. Baird lowered their price objective on shares of Sun Communities from $128.00 to $126.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Sun Communities has an average rating of "Hold" and an average target price of $139.09.

About Sun Communities

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.

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