Sun Communities, Inc. (NYSE:SUI) Receives $143.91 Average Target Price from Brokerages

Sun Communities, Inc. (NYSE:SUI - Get Free Report) has been given a consensus rating of "Moderate Buy" by the twelve analysts that are covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $143.91.

SUI has been the subject of a number of analyst reports. Evercore ISI lifted their price target on shares of Sun Communities from $149.00 to $150.00 and gave the company an "in-line" rating in a research report on Monday, October 21st. Jefferies Financial Group began coverage on shares of Sun Communities in a report on Thursday, October 17th. They issued a "buy" rating and a $160.00 price objective for the company. Wells Fargo & Company increased their target price on shares of Sun Communities from $123.00 to $154.00 and gave the company an "equal weight" rating in a research report on Thursday, September 19th. Royal Bank of Canada boosted their price objective on Sun Communities from $131.00 to $137.00 and gave the company an "outperform" rating in a research note on Friday, August 2nd. Finally, StockNews.com cut Sun Communities from a "hold" rating to a "sell" rating in a report on Friday, October 18th.

Insider Transactions at Sun Communities

In related news, CEO Baxter Underwood sold 3,000 shares of the firm's stock in a transaction on Monday, August 5th. The stock was sold at an average price of $131.43, for a total value of $394,290.00. Following the completion of the sale, the chief executive officer now owns 63,462 shares of the company's stock, valued at $8,340,810.66. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.89% of the company's stock.

Hedge Funds Weigh In On Sun Communities

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Farmers & Merchants Investments Inc. bought a new position in Sun Communities in the 1st quarter worth about $26,000. Quest Partners LLC raised its position in Sun Communities by 12,700.0% in the 2nd quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust's stock worth $46,000 after buying an additional 381 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in 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 acquiring an additional 236 shares during the period. 1620 Investment Advisors Inc. purchased a new position in shares of Sun Communities during the second quarter valued at approximately $62,000. Finally, Blue Trust Inc. lifted its position in Sun Communities by 230.7% during the third quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust's stock valued at $84,000 after purchasing an additional 436 shares during the period. Institutional investors own 99.59% of the company's stock.

Sun Communities Stock Performance

Shares of SUI stock traded up $1.41 on Wednesday, hitting $132.66. The company's stock had a trading volume of 477,319 shares, compared to its average volume of 805,661. Sun Communities has a fifty-two week low of $108.87 and a fifty-two week high of $147.83. The company has a market capitalization of $16.54 billion, a PE ratio of 113.15, a PEG ratio of 0.98 and a beta of 0.91. The stock's 50 day moving average is $135.82 and its 200-day moving average is $126.27. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.42 and a current ratio of 1.42.

Sun Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given 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 2.83%. Sun Communities's dividend payout ratio (DPR) is presently 324.14%.

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.