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

Key Points

• Sun Communities, Inc. (NYSE:SUI) has received a consensus rating of "Hold" from 15 ratings firms, with one sell, eight hold, and six buy recommendations.
• The company's quarterly earnings topped expectations, reporting $1.76 EPS compared to an anticipated $1.67, along with a revenue of $623.50 million.
• Sun Communities has increased its quarterly dividend from $0.94 to $1.04 per share, representing a 3.4% yield for investors, with a payout ratio of 40.70%.

Sun Communities, Inc. (NYSE:SUI - Get Free Report) has been assigned an average recommendation of "Hold" from the fifteen ratings firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $137.57.

SUI has been the topic of several research analyst reports. Wall Street Zen cut Sun Communities from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. Bank of America increased their price target on Sun Communities from $124.00 to $132.00 and gave the company an "underperform" rating in a report on Monday, May 12th. 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. 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. Finally, Colliers Securities initiated coverage on Sun Communities in a report on Friday, June 13th. They set a "neutral" rating and a $130.00 price target on the stock.

Insider Activity at Sun Communities

In other Sun Communities news, Director Jeff Blau purchased 3,665 shares of the business's stock in a transaction on Friday, May 23rd. The stock was acquired at an average price of $117.99 per share, for a total transaction of $432,433.35. Following the purchase, the director owned 3,665 shares of the company's stock, valued at approximately $432,433.35. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.77% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sun Communities

Institutional investors have recently bought and sold shares of the business. Opal Wealth Advisors LLC purchased a new stake in Sun Communities in the 1st quarter worth $29,000. Twin Tree Management LP purchased a new stake in Sun Communities in the 1st quarter worth $29,000. Ransom Advisory Ltd purchased a new stake in Sun Communities in the 1st quarter worth $31,000. Aster Capital Management DIFC Ltd increased its stake in 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. Finally, GKV Capital Management Co. Inc. purchased a new stake in Sun Communities in the 1st quarter worth $42,000. Hedge funds and other institutional investors own 99.59% of the company's stock.

Sun Communities Stock Up 0.3%

SUI stock traded up $0.35 during midday trading on Friday, hitting $124.38. The company's stock had a trading volume of 1,558,208 shares, compared to its average volume of 1,067,312. The company has a market cap of $15.88 billion, a PE ratio of 12.17, a P/E/G ratio of 8.42 and a beta of 0.83. 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 firm's 50-day moving average is $124.80 and its 200-day moving average is $125.74.

Sun Communities (NYSE:SUI - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.09. The business had revenue of $623.50 million for the quarter, compared to analysts' expectations of $614.79 million. Sun Communities had a negative return on equity of 0.61% and a net margin of 48.86%. During the same period in the prior year, the firm posted $1.86 EPS. On average, equities 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 was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were paid a $1.04 dividend. This is a positive change from Sun Communities's previous quarterly dividend of $0.94. The ex-dividend date was Monday, June 30th. This represents a $4.16 annualized dividend and a dividend yield of 3.3%. Sun Communities's dividend payout ratio (DPR) is currently 40.70%.

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.