Sun Communities, Inc. (NYSE:SUI) Receives Average Recommendation of "Hold" from Analysts

Sun Communities, Inc. (NYSE:SUI - Get Free Report) has been given an average recommendation of "Hold" by the twelve brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $139.09.

Several analysts have commented on the stock. Royal Bank of Canada dropped their target price on shares of Sun Communities from $154.00 to $147.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Barclays initiated coverage on Sun Communities in a report on Thursday, May 29th. They issued an "overweight" rating and a $141.00 price objective for the company. JMP Securities restated a "market outperform" rating and set a $140.00 target price on shares of Sun Communities in a report on Tuesday, May 20th. Truist Financial set a $137.00 target price on Sun Communities and gave the stock a "buy" rating in a research report on Tuesday, June 3rd. Finally, Jefferies Financial Group started coverage on Sun Communities in a research note on Tuesday, April 8th. They issued a "buy" rating and a $150.00 price target for the company.

Sun Communities Trading Up 0.3%

Shares of SUI traded up $0.38 during trading hours on Thursday, hitting $125.80. 946,762 shares of the stock traded hands, compared to its average volume of 843,951. The business has a fifty day moving average of $122.88 and a 200-day moving average of $125.43. The firm has a market capitalization of $16.06 billion, a PE ratio of 67.63 and a beta of 0.86. Sun Communities has a 1-year low of $109.22 and a 1-year high of $147.83. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93.

Sun Communities (NYSE:SUI - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.08. The firm had revenue of $470.20 million during the quarter, compared to analysts' expectations of $538.63 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The company's quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.19 EPS. Analysts expect that Sun Communities will post 6.77 EPS for the current year.

Sun Communities Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a $1.04 dividend. The ex-dividend date is Monday, June 30th. This is a positive change from Sun Communities's previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a dividend yield of 3.31%. Sun Communities's payout ratio is currently 670.97%.

Insiders Place Their Bets

In related news, Director Jeff Blau bought 3,665 shares of Sun Communities stock in a transaction that occurred on Friday, May 23rd. The stock was purchased at an average cost of $117.99 per share, with a total value of $432,433.35. Following the purchase, the director now owns 3,665 shares in the company, valued at approximately $432,433.35. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.77% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new position in Sun Communities in the first quarter valued at $29,000. Twin Tree Management LP bought a new position in shares of Sun Communities in the 1st quarter valued at about $29,000. Ransom Advisory Ltd bought a new position in shares of Sun Communities in the 1st quarter valued at about $31,000. Aster Capital Management DIFC Ltd increased its position in shares of 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 valued at $39,000 after acquiring an additional 232 shares during the last quarter. Finally, GKV Capital Management Co. Inc. bought a new stake in Sun Communities during the first quarter worth about $42,000. 99.59% of the stock is owned by institutional investors and hedge funds.

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.