Sun Communities, Inc. (NYSE:SUI) Given Consensus Recommendation of "Hold" by Analysts

Sun Communities, Inc. (NYSE:SUI - Get Free Report) has been assigned an average rating of "Hold" from the fourteen brokerages that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $135.69.

A number of research firms recently commented on SUI. Wells Fargo & Company dropped their target price 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. Bank of America cut Sun Communities from a "neutral" rating to an "underperform" rating and dropped their price target for the company from $147.00 to $114.00 in a report on Tuesday, November 12th. Royal Bank of Canada reduced their price objective on Sun Communities from $147.00 to $135.00 and set an "outperform" rating for the company in a research note on Thursday, November 7th. StockNews.com lowered Sun Communities from a "hold" rating to a "sell" rating in a research report on Wednesday, November 20th. Finally, Jefferies Financial Group decreased their price target on Sun Communities from $145.00 to $142.00 and set a "buy" rating for the company in a research report on Thursday, January 2nd.

Institutional Trading of Sun Communities

Several hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC increased its position in Sun Communities by 37.6% in the 3rd quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust's stock worth $707,329,000 after purchasing an additional 1,430,630 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Sun Communities by 3.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,949,862 shares of the real estate investment trust's stock worth $354,986,000 after buying an additional 111,569 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Sun Communities by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,784,547 shares of the real estate investment trust's stock valued at $214,752,000 after acquiring an additional 10,592 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Sun Communities by 1,061.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,323,479 shares of the real estate investment trust's stock valued at $178,868,000 after acquiring an additional 1,209,522 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Sun Communities by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,075,541 shares of the real estate investment trust's stock worth $145,359,000 after acquiring an additional 3,254 shares in the last quarter. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Sun Communities Stock Performance

SUI opened at $120.89 on Monday. Sun Communities has a 1-year low of $110.98 and a 1-year high of $147.83. The company has a market capitalization of $15.40 billion, a price-to-earnings ratio of 64.99, a price-to-earnings-growth ratio of 0.51 and a beta of 0.89. The business has a 50 day moving average price of $124.99 and a two-hundred day moving average price of $129.13. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61.

Sun Communities (NYSE:SUI - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.20). The firm 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%. The company's quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.57 EPS. Research analysts predict that Sun Communities will post 6.78 EPS for the current fiscal year.

Sun Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Tuesday, December 31st. Sun Communities's dividend payout ratio (DPR) is currently 202.15%.

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.