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

Sun Communities, Inc. (NYSE:SUI - Get Free Report) has received a consensus recommendation of "Hold" from the twelve research firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $134.55.

Several research firms have commented on SUI. Robert W. Baird lowered shares of Sun Communities from an "outperform" rating to a "neutral" rating and decreased their price target for the company from $145.00 to $126.00 in a research report on Thursday, November 7th. Truist Financial upgraded shares of Sun Communities from a "hold" rating to a "buy" rating in a research note on Friday, January 17th. Jefferies Financial Group reduced their price target on Sun Communities from $145.00 to $142.00 and set a "buy" rating on the stock in a research report on Thursday, January 2nd. BMO Capital Markets lowered their price objective on Sun Communities from $145.00 to $138.00 and set an "outperform" rating for the company in a research report on Thursday, November 7th. Finally, Evercore ISI boosted their target price on Sun Communities from $149.00 to $150.00 and gave the stock an "in-line" rating in a research note on Monday, October 21st.

Sun Communities Stock Up 0.3 %

Shares of NYSE SUI traded up $0.33 during mid-day trading on Friday, reaching $125.50. 499,225 shares of the company were exchanged, compared to its average volume of 808,605. Sun Communities has a 1 year low of $110.98 and a 1 year high of $147.83. The firm has a 50-day moving average of $124.35 and a 200 day moving average of $129.66. The stock has a market cap of $15.99 billion, a price-to-earnings ratio of 67.47 and a beta of 0.90. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93.

Sun Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.94 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.76 dividend on an annualized basis and a yield of 3.00%. Sun Communities's dividend payout ratio is currently 202.15%.

Institutional Trading of Sun Communities

Hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC grew its position in Sun Communities by 37.6% during 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Sun Communities by 1,061.4% during 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 in the last quarter. Daiwa Securities Group Inc. raised its position in Sun Communities by 23.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 2,344,020 shares of the real estate investment trust's stock valued at $288,244,000 after acquiring an additional 442,557 shares in the last quarter. Westfield Capital Management Co. LP lifted its holdings in Sun Communities by 58.8% in the third quarter. Westfield Capital Management Co. LP now owns 959,879 shares of the real estate investment trust's stock valued at $129,728,000 after acquiring an additional 355,427 shares during the period. Finally, Adelante Capital Management LLC grew its stake in shares of Sun Communities by 168.7% during the 3rd quarter. Adelante Capital Management LLC now owns 559,129 shares of the real estate investment trust's stock worth $75,566,000 after purchasing an additional 351,017 shares during the period. Institutional investors and hedge funds 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.