Sun Communities, Inc. (NYSE:SUI) Receives $138.08 Average Price Target from Analysts

Sun Communities, Inc. (NYSE:SUI - Get Free Report) has earned a consensus recommendation of "Hold" from the fourteen brokerages that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $138.08.

A number of brokerages recently issued reports on SUI. JMP Securities restated a "market outperform" rating and set a $140.00 price objective on shares of Sun Communities in a report on Tuesday, May 20th. Royal Bank Of Canada decreased their price objective on shares of Sun Communities from $154.00 to $147.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Truist Financial set a $137.00 price objective on shares of Sun Communities and gave the company a "buy" rating in a report on Tuesday, June 3rd. Deutsche Bank Aktiengesellschaft set a $135.00 price objective on shares of Sun Communities and gave the company a "hold" rating in a report on Wednesday, June 25th. Finally, Wall Street Zen cut shares of Sun Communities from a "hold" rating to a "sell" rating in a report on Saturday, June 21st.

Sun Communities Trading Down 1.1%

Shares of SUI traded down $1.36 on Monday, reaching $126.00. 1,203,610 shares of the company's stock were exchanged, compared to its average volume of 860,967. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $16.08 billion, a P/E ratio of 203.23, a price-to-earnings-growth ratio of 8.68 and a beta of 0.86. The business has a 50 day moving average price of $125.04 and a two-hundred day moving average price of $125.74. Sun Communities has a 12 month low of $109.22 and a 12 month high of $147.83.

Sun Communities (NYSE:SUI - Get Free Report) last posted its quarterly 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. The business had revenue of $470.20 million during the quarter, compared to the consensus estimate of $538.63 million. Sun Communities had a net margin of 2.85% and a return on equity of 1.41%. Sun Communities's revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.19 earnings per share. Research analysts anticipate that Sun Communities will post 6.77 earnings per share for the current year.

Sun Communities Increases Dividend

The firm 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 $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend is Monday, June 30th. This is a positive change from Sun Communities's previous quarterly dividend of $0.94. Sun Communities's payout ratio is currently 670.97%.

Insider Activity at Sun Communities

In other Sun Communities news, Director Jeff Blau acquired 3,665 shares of the business's stock in a transaction dated Friday, May 23rd. The shares were acquired 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 directly owned 3,665 shares in the company, valued at $432,433.35. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.77% of the stock is currently owned by corporate insiders.

Institutional Trading of Sun Communities

A number of institutional investors have recently made changes to their positions in SUI. Norges Bank bought a new stake in Sun Communities during the fourth quarter worth $888,783,000. Dodge & Cox raised its position in shares of Sun Communities by 42.1% in the first quarter. Dodge & Cox now owns 13,647,820 shares of the real estate investment trust's stock valued at $1,755,656,000 after purchasing an additional 4,041,802 shares during the period. Cohen & Steers Inc. raised its position in shares of Sun Communities by 30.3% in the fourth quarter. Cohen & Steers Inc. now owns 16,373,446 shares of the real estate investment trust's stock valued at $2,013,414,000 after purchasing an additional 3,811,528 shares during the period. FMR LLC raised its position in shares of Sun Communities by 51.3% in the fourth quarter. FMR LLC now owns 7,917,870 shares of the real estate investment trust's stock valued at $973,660,000 after purchasing an additional 2,684,214 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Sun Communities by 19.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,549,540 shares of the real estate investment trust's stock valued at $682,429,000 after purchasing an additional 911,857 shares during the period. 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.