Brokerages Set Sun Communities, Inc. (NYSE:SUI) PT at $139.08

Shares of Sun Communities, Inc. (NYSE:SUI) have been given an average recommendation of “Hold” by the fourteen brokerages that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $139.08.

Several equities research analysts recently commented on SUI shares. Baird R W cut Sun Communities from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. UBS Group cut Sun Communities from a “buy” rating to a “neutral” rating and lowered their price target for the company from $155.00 to $134.00 in a research note on Thursday, November 14th. Jefferies Financial Group started coverage on Sun Communities in a research note on Thursday, October 17th. They issued a “buy” rating and a $160.00 price target for the company. Robert W. Baird cut Sun Communities from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $145.00 to $126.00 in a research note on Thursday, November 7th. Finally, Royal Bank of Canada decreased their target price on Sun Communities from $147.00 to $135.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Bristlecone Advisors LLC raised its stake in Sun Communities by 2.4% during the second quarter. Bristlecone Advisors LLC now owns 3,655 shares of the real estate investment trust’s stock worth $440,000 after acquiring an additional 85 shares in the last quarter. Toronto Dominion Bank raised its stake in Sun Communities by 0.8% during the second quarter. Toronto Dominion Bank now owns 11,916 shares of the real estate investment trust’s stock worth $1,434,000 after acquiring an additional 98 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Sun Communities by 15.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 762 shares of the real estate investment trust’s stock worth $92,000 after acquiring an additional 102 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in Sun Communities by 1.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 7,034 shares of the real estate investment trust’s stock worth $846,000 after acquiring an additional 115 shares in the last quarter. Finally, Avior Wealth Management LLC raised its stake in Sun Communities by 3.0% during the third quarter. Avior Wealth Management LLC now owns 4,328 shares of the real estate investment trust’s stock worth $585,000 after acquiring an additional 125 shares in the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Sun Communities Price Performance

Shares of SUI opened at $128.56 on Friday. The company has a market capitalization of $16.38 billion, a price-to-earnings ratio of 69.12, a P/E/G ratio of 0.54 and a beta of 0.91. Sun Communities has a fifty-two week low of $110.98 and a fifty-two week high of $147.83. 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 business’s 50-day moving average is $131.21 and its 200-day moving average is $127.73.

Sun Communities (NYSE:SUI) last issued its 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). The business had revenue of $939.90 million during the quarter, compared to analyst estimates of $980.41 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. Sun Communities’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.57 EPS. Equities research analysts expect that Sun Communities will post 6.78 EPS for the current fiscal year.

Sun Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.94 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.92%. Sun Communities’s payout ratio is 202.15%.

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.