Sun Communities, Inc. (NYSE:SUI) Given Average Recommendation of “Moderate Buy” by Analysts

Sun Communities, Inc. (NYSE:SUI) has received a consensus rating of “Moderate Buy” from the ten analysts that are covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $141.17.

Several analysts recently issued reports on the company. JMP Securities reiterated a “market outperform” rating and set a $150.00 target price on shares of Sun Communities in a report on Wednesday, March 20th. Barclays dropped their target price on Sun Communities from $157.00 to $155.00 and set an “overweight” rating on the stock in a report on Friday, January 26th. Deutsche Bank Aktiengesellschaft assumed coverage on Sun Communities in a report on Tuesday, January 30th. They set a “hold” rating and a $129.00 target price on the stock. BMO Capital Markets dropped their target price on Sun Communities from $143.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, January 22nd. Finally, Compass Point upped their target price on Sun Communities from $116.00 to $125.00 and gave the stock a “neutral” rating in a report on Thursday, March 21st.

Sun Communities Stock Down 0.2 %

SUI stock opened at $117.69 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.66 and a quick ratio of 1.66. The stock has a market capitalization of $14.67 billion, a P/E ratio of 103.24, a P/E/G ratio of 7.55 and a beta of 0.80. The business has a 50-day moving average of $127.89 and a 200-day moving average of $125.05. Sun Communities has a fifty-two week low of $102.74 and a fifty-two week high of $141.52.

Sun Communities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a $0.94 dividend. This is an increase from Sun Communities’s previous quarterly dividend of $0.93. The ex-dividend date was Wednesday, March 27th. This represents a $3.76 annualized dividend and a dividend yield of 3.19%. Sun Communities’s dividend payout ratio is presently 329.83%.

Insider Activity

In other news, CEO Baxter Underwood sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $131.48, for a total value of $525,920.00. Following the transaction, the chief executive officer now owns 66,852 shares of the company’s stock, valued at $8,789,700.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Baxter Underwood sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $131.48, for a total value of $525,920.00. Following the transaction, the chief executive officer now owns 66,852 shares of the company’s stock, valued at $8,789,700.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Clunet R. Lewis sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $131.13, for a total value of $65,565.00. Following the completion of the transaction, the director now directly owns 28,400 shares in the company, valued at approximately $3,724,092. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,000 shares of company stock valued at $912,460. 1.89% of the stock is owned by insiders.

Institutional Investors Weigh In On Sun Communities

A number of large investors have recently added to or reduced their stakes in the stock. Norden Group LLC grew its position in Sun Communities by 67.5% during the first quarter. Norden Group LLC now owns 3,392 shares of the real estate investment trust’s stock worth $435,000 after buying an additional 1,367 shares in the last quarter. Naviter Wealth LLC grew its position in Sun Communities by 6.8% during the first quarter. Naviter Wealth LLC now owns 9,170 shares of the real estate investment trust’s stock worth $1,188,000 after buying an additional 583 shares in the last quarter. Farmers & Merchants Investments Inc. acquired a new stake in Sun Communities during the first quarter worth approximately $26,000. Oak Thistle LLC acquired a new stake in Sun Communities during the first quarter worth approximately $567,000. Finally, Pasadena Private Wealth LLC grew its position in Sun Communities by 4.2% during the first quarter. Pasadena Private Wealth LLC now owns 4,613 shares of the real estate investment trust’s stock worth $593,000 after buying an additional 188 shares in the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

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.