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

Shares of Sun Communities, Inc. (NYSE:SUI - Get Free Report) have earned a consensus rating of "Hold" from the eleven research firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $135.70.

A number of equities analysts have issued reports on the stock. Truist Financial cut their target price on shares of Sun Communities from $142.00 to $135.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Jefferies Financial Group assumed coverage on Sun Communities in a report on Tuesday, April 8th. They issued a "buy" rating and a $150.00 price target on the stock. Royal Bank of Canada restated an "outperform" rating on shares of Sun Communities in a research report on Friday, February 28th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $140.00 target price (down from $150.00) on shares of Sun Communities in a research report on Monday, April 21st.

Institutional Trading of Sun Communities

Institutional investors have recently made changes to their positions in the stock. Opal Wealth Advisors LLC bought a new stake in Sun Communities during the first quarter worth approximately $29,000. Aster Capital Management DIFC Ltd raised its stake in shares of Sun Communities by 263.6% in the 4th 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. Smartleaf Asset Management LLC lifted its holdings in shares of Sun Communities by 45.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust's stock valued at $49,000 after buying an additional 124 shares during the period. CKW Financial Group boosted its stake in Sun Communities by 45.0% during the fourth quarter. CKW Financial Group now owns 435 shares of the real estate investment trust's stock valued at $53,000 after buying an additional 135 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in Sun Communities by 66.4% during the first quarter. Parallel Advisors LLC now owns 476 shares of the real estate investment trust's stock worth $61,000 after acquiring an additional 190 shares during the period. 99.59% of the stock is owned by institutional investors and hedge funds.

Sun Communities Stock Performance

Shares of SUI traded up $1.18 during mid-day trading on Wednesday, hitting $123.50. The stock had a trading volume of 619,057 shares, compared to its average volume of 838,948. Sun Communities has a fifty-two week low of $109.22 and a fifty-two week high of $147.83. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. The company has a market cap of $15.76 billion, a PE ratio of 66.40 and a beta of 0.84. The company's fifty day simple moving average is $127.19 and its two-hundred day simple moving average is $126.84.

Sun Communities (NYSE:SUI - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.02. The firm had revenue of $745.90 million during the quarter, compared to the consensus estimate of $724.68 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. On average, equities analysts expect that Sun Communities will post 6.77 earnings per share for the current year.

Sun Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.94 per share. The ex-dividend date was Monday, March 31st. This represents a $3.76 annualized dividend and a yield of 3.04%. Sun Communities's payout ratio is 508.11%.

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.