Sun Communities (NYSE:SUI) Given a $135.00 Price Target at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft set a $135.00 price objective on Sun Communities (NYSE:SUI - Free Report) in a research note issued to investors on Wednesday morning, Marketbeat.com reports. The firm currently has a hold rating on the real estate investment trust's stock.

Several other equities research analysts have also weighed in on the stock. Wall Street Zen lowered shares of Sun Communities from a "hold" rating to a "sell" rating in a research note on Saturday, June 21st. Robert W. Baird dropped their price objective on shares of Sun Communities from $128.00 to $126.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. JMP Securities reiterated a "market outperform" rating and set a $140.00 price objective on shares of Sun Communities in a research note on Tuesday, May 20th. Barclays started coverage on shares of Sun Communities in a research report on Thursday, May 29th. They issued an "overweight" rating and a $141.00 target price for the company. Finally, Bank of America upped their target price on shares of Sun Communities from $124.00 to $132.00 and gave the stock an "underperform" rating in a research report on Monday, May 12th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $138.08.

Sun Communities Stock Down 1.2%

Shares of Sun Communities stock traded down $1.50 during trading on Wednesday, reaching $126.63. The company had a trading volume of 1,813,335 shares, compared to its average volume of 853,319. The company has a market cap of $16.16 billion, a price-to-earnings ratio of 204.25, a price-to-earnings-growth ratio of 8.73 and a beta of 0.86. The firm's fifty day moving average is $124.25 and its 200-day moving average is $125.39. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.25 and a current ratio of 2.25. Sun Communities has a fifty-two week low of $109.22 and a fifty-two week high of $147.83.

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 for the quarter, topping the consensus estimate of $1.18 by $0.08. The firm had revenue of $470.20 million for the quarter, compared to analyst estimates of $538.63 million. Sun Communities had a net margin of 2.85% and a return on equity of 1.41%. Sun Communities's quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.19 earnings per share. On average, analysts anticipate that Sun Communities will post 6.77 EPS for the current year.

Sun Communities Increases Dividend

The company also recently declared 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. This represents a $4.16 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend is Monday, June 30th. This is an increase from Sun Communities's previous quarterly dividend of $0.94. Sun Communities's dividend payout ratio is 606.45%.

Insiders Place Their Bets

In related news, Director Jeff Blau purchased 3,665 shares of Sun Communities stock in a transaction 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 acquisition, the director now directly 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 filing with the SEC, which is accessible through this link. Insiders own 1.77% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SUI. Twin Tree Management LP acquired a new position in Sun Communities during the first quarter valued at approximately $29,000. Opal Wealth Advisors LLC bought a new stake in shares of Sun Communities in the first quarter worth $29,000. Ransom Advisory Ltd bought a new stake in Sun Communities during the first quarter worth $31,000. Aster Capital Management DIFC Ltd raised 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 purchasing an additional 232 shares during the period. Finally, GKV Capital Management Co. Inc. bought a new position in shares of Sun Communities in the first quarter valued at about $42,000. 99.59% of the stock is currently owned by 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.