StockNews.com upgraded shares of Sun Communities (NYSE:SUI – Free Report) from a sell rating to a hold rating in a report published on Thursday morning.
A number of other research firms have also recently commented on SUI. Evercore ISI decreased their target price on shares of Sun Communities from $145.00 to $128.00 and set an outperform rating on the stock in a research note on Wednesday, May 1st. Royal Bank of Canada lowered their target price on shares of Sun Communities from $142.00 to $130.00 and set an outperform rating on the stock in a research note on Wednesday, May 1st. Finally, JMP Securities reiterated a market outperform rating and issued a $150.00 price target on shares of Sun Communities in a research note on Thursday, May 2nd. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $135.10.
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Sun Communities Trading Up 1.8 %
Sun Communities Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a $0.94 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $3.76 annualized dividend and a dividend yield of 2.77%. Sun Communities’s dividend payout ratio (DPR) is 324.14%.
Hedge Funds Weigh In On Sun Communities
Several institutional investors have recently added to or reduced their stakes in the company. Farmers & Merchants Investments Inc. purchased a new stake in shares of Sun Communities during the 1st quarter worth approximately $26,000. V Square Quantitative Management LLC bought a new stake in Sun Communities in the fourth quarter worth $32,000. CKW Financial Group purchased a new stake in Sun Communities during the first quarter valued at $38,000. Quest Partners LLC bought a new position in Sun Communities during the fourth quarter valued at $51,000. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of Sun Communities in the 2nd quarter worth $62,000. Hedge funds and other institutional investors own 99.59% of the company’s stock.
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.
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