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

Shares of Sun Communities, Inc. (NYSE:SUI - Get Free Report) have earned a consensus rating of "Hold" from the fourteen ratings firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $135.69.

Several equities analysts have issued reports on SUI shares. Evercore ISI lifted their target price on Sun Communities from $149.00 to $150.00 and gave the company an "in-line" rating in a research note on Monday, October 21st. Baird R W downgraded shares of Sun Communities from a "strong-buy" rating to a "hold" rating in a research report on Thursday, November 7th. StockNews.com cut shares of Sun Communities from a "hold" rating to a "sell" rating in a research report on Wednesday, November 20th. Wells Fargo & Company cut their price target on shares of Sun Communities from $154.00 to $135.00 and set an "equal weight" rating on the stock in a report on Wednesday, December 11th. Finally, Royal Bank of Canada reduced their price target on Sun Communities from $147.00 to $135.00 and set an "outperform" rating on the stock in a research report on Thursday, November 7th.

Sun Communities Trading Down 0.4 %

NYSE:SUI opened at $120.78 on Monday. The firm has a 50-day simple moving average of $124.59 and a 200-day simple moving average of $129.15. Sun Communities has a one year low of $110.98 and a one year high of $147.83. The firm has a market cap of $15.39 billion, a P/E ratio of 64.94, a P/E/G ratio of 0.49 and a beta of 0.89. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61.

Sun Communities (NYSE:SUI - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $2.31 EPS for the quarter, missing analysts' consensus estimates of $2.51 by ($0.20). Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The business had revenue of $939.90 million during the quarter, compared to the consensus estimate of $980.41 million. During the same period last year, the firm earned $2.57 EPS. The business's quarterly revenue was down 4.4% on a year-over-year basis. Equities analysts anticipate that Sun Communities will post 6.78 EPS for the current fiscal year.

Sun Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 3.11%. The ex-dividend date was Tuesday, December 31st. Sun Communities's payout ratio is 202.15%.

Institutional Investors Weigh In On Sun Communities

Large investors have recently bought and sold shares of the company. Assetmark Inc. lifted its stake in Sun Communities by 2,111.1% during the 3rd quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust's stock valued at $27,000 after acquiring an additional 190 shares during the period. Brooklyn Investment Group acquired a new position in Sun Communities during the third quarter valued at $41,000. Quest Partners LLC boosted its holdings in Sun Communities by 12,700.0% in the second 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 during the last quarter. Point72 Hong Kong Ltd purchased a new stake in Sun Communities in the third quarter valued at $60,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Sun Communities by 89.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust's stock valued at $68,000 after buying an additional 236 shares during the last quarter. Hedge funds and other institutional investors 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.