Sun Communities, Inc. (NYSE:SUI) Receives $135.69 Consensus Price Target from Analysts

Shares of Sun Communities, Inc. (NYSE:SUI) have been given an average rating of “Hold” by the fourteen research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $135.69.

SUI has been the topic of a number of recent analyst reports. BMO Capital Markets lowered their price target on Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. UBS Group cut shares of Sun Communities from a “buy” rating to a “neutral” rating and reduced their target price for the company from $155.00 to $134.00 in a research report on Thursday, November 14th. Jefferies Financial Group dropped their price objective on Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. StockNews.com downgraded shares of Sun Communities from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Finally, Bank of America lowered Sun Communities from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $147.00 to $114.00 in a research note on Tuesday, November 12th.

Sun Communities Trading Up 1.9 %

Sun Communities stock opened at $126.08 on Monday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. The firm has a 50-day moving average of $124.39 and a 200-day moving average of $129.26. The company has a market cap of $16.06 billion, a price-to-earnings ratio of 67.78, a P/E/G ratio of 0.49 and a beta of 0.89. Sun Communities has a one year low of $110.98 and a one year high of $147.83.

Sun Communities (NYSE:SUI) last posted its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The company had revenue of $939.90 million during the quarter, compared to the consensus estimate of $980.41 million. During the same quarter in the prior year, the business earned $2.57 earnings per share. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. On average, equities analysts expect that Sun Communities will post 6.78 earnings per share for the current fiscal year.

Sun Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.94 per share. The ex-dividend date was Tuesday, December 31st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.98%. Sun Communities’s dividend payout ratio (DPR) is 202.15%.

Institutional Trading of Sun Communities

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its stake in shares of Sun Communities by 4.3% in the 2nd quarter. Victory Capital Management Inc. now owns 72,195 shares of the real estate investment trust’s stock valued at $8,688,000 after purchasing an additional 2,989 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Sun Communities in the 2nd quarter valued at about $228,000. Quest Partners LLC boosted its position in shares of Sun Communities by 12,700.0% during the 2nd quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 381 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Sun Communities by 5.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 116,037 shares of the real estate investment trust’s stock worth $13,805,000 after purchasing an additional 6,152 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in Sun Communities by 56.7% in the second quarter. Oppenheimer Asset Management Inc. now owns 54,100 shares of the real estate investment trust’s stock valued at $6,510,000 after buying an additional 19,575 shares during the period. 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.