Sun Communities, Inc. (NYSE:SUI) Given Consensus Recommendation of "Hold" by Analysts

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

Several research firms have recently weighed in on SUI. Robert W. Baird lowered their price target on Sun Communities from $128.00 to $126.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Jefferies Financial Group began coverage on Sun Communities in a report on Tuesday, April 8th. They set a "buy" rating and a $150.00 price target on the stock. Truist Financial set a $137.00 price target on Sun Communities and gave the company a "buy" rating in a report on Tuesday, June 3rd. JMP Securities reissued a "market outperform" rating and set a $140.00 price target on shares of Sun Communities in a report on Tuesday, May 20th. Finally, Wall Street Zen cut Sun Communities from a "hold" rating to a "sell" rating in a report on Saturday, June 21st.

Sun Communities Stock Performance

SUI stock opened at $129.26 on Monday. The stock has a market capitalization of $16.50 billion, a PE ratio of 208.48, a price-to-earnings-growth ratio of 8.81 and a beta of 0.86. Sun Communities has a 12-month low of $109.22 and a 12-month high of $147.83. 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's 50 day simple moving average is $124.90 and its 200 day simple moving average is $125.67.

Sun Communities (NYSE:SUI - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.08. The business had revenue of $470.20 million for the quarter, compared to analysts' expectations of $538.63 million. Sun Communities had a return on equity of 1.41% and a net margin of 2.85%. The firm's quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.19 EPS. As a group, research analysts forecast that Sun Communities 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 paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 3.22%. This is a positive change from Sun Communities's previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Monday, June 30th. Sun Communities's dividend payout ratio is 670.97%.

Insider Activity at Sun Communities

In related news, Director Jeff Blau acquired 3,665 shares of Sun Communities stock in a transaction dated Friday, May 23rd. The stock was purchased at an average cost of $117.99 per share, for a total transaction of $432,433.35. Following the purchase, the director directly owned 3,665 shares of the company's stock, valued at approximately $432,433.35. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 1.89% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sun Communities

Several hedge funds and other institutional investors have recently modified their holdings of SUI. Norges Bank purchased a new stake in shares of Sun Communities in the 4th quarter worth $888,783,000. Dodge & Cox raised its holdings in Sun Communities by 42.1% during 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 acquiring an additional 4,041,802 shares during the period. Cohen & Steers Inc. raised its holdings in Sun Communities by 30.3% during 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 acquiring an additional 3,811,528 shares during the period. FMR LLC raised its holdings in Sun Communities by 51.3% during 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 acquiring an additional 2,684,214 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Sun Communities by 19.7% during 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 acquiring an additional 911,857 shares during the period. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

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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