Sun Communities, Inc. (NYSE:SUI) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Sun Communities, Inc. (NYSE:SUI) have earned a consensus rating of “Moderate Buy” from the ten analysts that are covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $141.17.

A number of research analysts have recently commented on the stock. JMP Securities restated a “market outperform” rating and set a $150.00 price target on shares of Sun Communities in a research report on Wednesday, March 20th. Barclays cut their price target on shares of Sun Communities from $157.00 to $155.00 and set an “overweight” rating for the company in a research report on Friday, January 26th. BMO Capital Markets cut their price target on shares of Sun Communities from $143.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday, January 22nd. Truist Financial cut their price target on shares of Sun Communities from $143.00 to $136.00 and set a “hold” rating for the company in a research report on Monday, March 18th. Finally, Compass Point upped their price target on shares of Sun Communities from $116.00 to $125.00 and gave the company a “neutral” rating in a research report on Thursday, March 21st.

Insiders Place Their Bets

In related news, Director Clunet R. Lewis sold 500 shares of the firm’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 transaction of $65,565.00. Following the completion of the sale, the director now owns 28,400 shares of the company’s stock, valued at $3,724,092. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Sun Communities news, Director Clunet R. Lewis sold 500 shares of Sun Communities 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 sale, the director now owns 28,400 shares of the company’s stock, valued at approximately $3,724,092. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Craig Leupold sold 2,500 shares of Sun Communities stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $128.39, for a total transaction of $320,975.00. The disclosure for this sale can be found here. Insiders sold 7,000 shares of company stock worth $912,460 over the last three months. Company insiders own 1.89% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Sun Communities by 2.6% during the 1st quarter. BlackRock Inc. now owns 10,936,309 shares of the real estate investment trust’s stock valued at $1,540,707,000 after buying an additional 273,133 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Sun Communities by 18.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,567,246 shares of the real estate investment trust’s stock valued at $777,168,000 after buying an additional 1,040,076 shares in the last quarter. State Street Corp lifted its stake in shares of Sun Communities by 1.5% during the 1st quarter. State Street Corp now owns 5,879,907 shares of the real estate investment trust’s stock valued at $833,364,000 after buying an additional 85,103 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Sun Communities by 1.0% during the 4th quarter. Principal Financial Group Inc. now owns 4,569,401 shares of the real estate investment trust’s stock valued at $610,700,000 after buying an additional 45,700 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Sun Communities during the 4th quarter valued at $576,397,000. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Sun Communities Stock Down 0.2 %

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

Sun Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a $0.94 dividend. The ex-dividend date was Wednesday, March 27th. This is a positive change from Sun Communities’s previous quarterly dividend of $0.93. This represents a $3.76 annualized dividend and a yield of 3.19%. Sun Communities’s dividend payout ratio (DPR) is 329.83%.

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.