Sun Communities, Inc. is a REIT that, as of March 31, 2022, owned, operated, or had an interest in a portfolio of 603 developed MH, RV and marina properties comprising nearly 159,300 developed sites and over 45,700 wet slips and dry storage spaces in 39 states, Canada, Puerto Rico and the UK.
Wall Street Analysts Forecast Growth
Several research firms recently commented on SUI. Wolfe Research began coverage on Sun Communities in a research note on Friday, July 15th. They set a "peer perform" rating for the company. Truist Financial began coverage on Sun Communities in a research note on Tuesday, May 10th. They set a "buy" rating and a $185.00 target price for the company. StockNews.com cut Sun Communities from a "hold" rating to a "sell" rating in a research note on Thursday, May 5th. Barclays lowered their price objective on Sun Communities from $230.00 to $210.00 and set an "overweight" rating for the company in a research report on Friday, July 1st. Finally, JMP Securities lowered their price objective on Sun Communities from $220.00 to $200.00 and set a "market outperform" rating for the company in a research report on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $203.75.
Sun Communities Stock Performance
Shares of Sun Communities stock traded up $1.99 on Friday, hitting $170.00. The stock had a trading volume of 15,895 shares, compared to its average volume of 650,876. Sun Communities has a 52-week low of $148.64 and a 52-week high of $211.79. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.89. The stock has a market cap of $20.96 billion, a price-to-earnings ratio of 61.54, a P/E/G ratio of 2.76 and a beta of 0.60. The company's 50 day moving average price is $160.18 and its 200 day moving average price is $171.62.
Sun Communities (NYSE:SUI - Get Rating) last posted its quarterly earnings data on Monday, July 25th. The real estate investment trust reported $0.61 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.19). Sun Communities had a net margin of 12.33% and a return on equity of 4.42%. During the same period in the previous year, the company earned $1.80 EPS. On average, research analysts anticipate that Sun Communities will post 7.24 EPS for the current year.
Sun Communities Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 2.07%. The ex-dividend date was Wednesday, June 29th. Sun Communities's dividend payout ratio is presently 128.94%.
Insider Buying and Selling at Sun Communities
In other Sun Communities news, EVP Bruce Thelen sold 6,892 shares of the company's stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $165.40, for a total transaction of $1,139,936.80. Following the completion of the sale, the executive vice president now directly owns 25,120 shares of the company's stock, valued at approximately $4,154,848. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Sun Communities news, EVP Bruce Thelen sold 6,892 shares of the business's stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $165.40, for a total transaction of $1,139,936.80. Following the transaction, the executive vice president now owns 25,120 shares in the company, valued at approximately $4,154,848. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Clunet R. Lewis sold 4,400 shares of the business's stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $153.39, for a total value of $674,916.00. Following the transaction, the director now owns 26,400 shares in the company, valued at approximately $4,049,496. The disclosure for this sale can be found here. 2.25% of the stock is owned by company insiders.