Sun Communities (NYSE:SUI) Reaches New 12-Month Low – Time to Sell?

Sun Communities, Inc. (NYSE:SUI) hit a new 52-week low on Wednesday . The company traded as low as $110.41 and last traded at $111.94, with a volume of 14935 shares changing hands. The stock had previously closed at $114.62.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Truist Financial lowered their target price on shares of Sun Communities from $142.00 to $135.00 and set a “buy” rating for the company in a report on Thursday. Royal Bank of Canada reissued an “outperform” rating on shares of Sun Communities in a report on Friday, February 28th. Finally, Jefferies Financial Group began coverage on Sun Communities in a research report on Tuesday. They issued a “buy” rating and a $150.00 price target for the company. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $136.70.

Sun Communities Trading Down 1.2 %

The stock has a 50 day moving average of $128.01 and a 200-day moving average of $127.65. The company has a market capitalization of $14.98 billion, a P/E ratio of 62.71 and a beta of 0.84. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93.

Sun Communities (NYSE:SUI) last issued its earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.02. The company had revenue of $745.90 million for the quarter, compared to the consensus estimate of $724.68 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. On average, research analysts predict that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.94 per share. The ex-dividend date is Monday, March 31st. This represents a $3.76 annualized dividend and a dividend yield of 3.20%. Sun Communities’s dividend payout ratio (DPR) is 508.11%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Sun Communities by 28.8% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,377 shares of the real estate investment trust’s stock worth $177,000 after purchasing an additional 308 shares during the last quarter. Aurora Investment Managers LLC. lifted its holdings in Sun Communities by 1.3% during the 1st quarter. Aurora Investment Managers LLC. now owns 27,861 shares of the real estate investment trust’s stock valued at $3,584,000 after buying an additional 371 shares in the last quarter. Rhumbline Advisers boosted its position in Sun Communities by 1.2% in the 1st quarter. Rhumbline Advisers now owns 161,933 shares of the real estate investment trust’s stock valued at $20,831,000 after buying an additional 1,999 shares during the period. Cascade Investment Advisors Inc. grew its stake in Sun Communities by 1.0% in the 1st quarter. Cascade Investment Advisors Inc. now owns 10,473 shares of the real estate investment trust’s stock worth $1,347,000 after acquiring an additional 100 shares in the last quarter. Finally, Parallel Advisors LLC increased its position in shares of Sun Communities by 66.4% during the first quarter. Parallel Advisors LLC now owns 476 shares of the real estate investment trust’s stock worth $61,000 after acquiring an additional 190 shares during the period. 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.