Sun Communities, Inc. (NYSE:SUI - Get Free Report) has earned a consensus rating of "Hold" from the fourteen brokerages that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $137.08.
Several equities analysts recently weighed in on the stock. Jefferies Financial Group started coverage on shares of Sun Communities in a research note on Thursday, October 17th. They issued a "buy" rating and a $160.00 target price for the company. StockNews.com downgraded Sun Communities from a "hold" rating to a "sell" rating in a report on Wednesday, November 20th. BMO Capital Markets reduced their price objective on Sun Communities from $145.00 to $138.00 and set an "outperform" rating for the company in a report on Thursday, November 7th. Royal Bank of Canada dropped their price objective on shares of Sun Communities from $147.00 to $135.00 and set an "outperform" rating for the company in a research note on Thursday, November 7th. Finally, Evercore ISI lifted their price objective on Sun Communities from $149.00 to $150.00 and gave the company an "in-line" rating in a report on Monday, October 21st.
Read Our Latest Research Report on SUI
Sun Communities Trading Down 0.4 %
Sun Communities stock traded down $0.52 during trading hours on Thursday, reaching $119.89. 1,545,900 shares of the company's stock traded hands, compared to its average volume of 832,153. Sun Communities has a fifty-two week low of $110.98 and a fifty-two week high of $147.83. The firm's 50 day moving average is $128.55 and its 200-day moving average is $128.30. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. The firm has a market capitalization of $15.27 billion, a price-to-earnings ratio of 64.46, a PEG ratio of 0.51 and a beta of 0.88.
Sun Communities (NYSE:SUI - Get Free Report) last posted its earnings results 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). Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The firm had revenue of $939.90 million during the quarter, compared to analyst estimates of $980.41 million. During the same quarter last year, the business posted $2.57 earnings per share. The company's revenue for the quarter was down 4.4% on a year-over-year basis. On average, analysts predict that Sun Communities will post 6.78 earnings per share for the current year.
Sun Communities Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Tuesday, December 31st. Sun Communities's payout ratio is 202.15%.
Institutional Trading of Sun Communities
A number of hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. raised its holdings in Sun Communities by 6.9% in the 3rd quarter. Victory Capital Management Inc. now owns 77,203 shares of the real estate investment trust's stock valued at $10,434,000 after buying an additional 5,008 shares during the last quarter. FMR LLC raised 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 last quarter. KBC Group NV raised its position in shares of Sun Communities by 303.3% during the third quarter. KBC Group NV now owns 109,939 shares of the real estate investment trust's stock worth $14,858,000 after acquiring an additional 82,682 shares during the last quarter. AMG National Trust Bank bought a new position in Sun Communities during the 3rd quarter worth approximately $1,690,000. Finally, Swedbank AB lifted its holdings in Sun Communities by 52.8% in the third quarter. Swedbank AB now owns 162,368 shares of the real estate investment trust's stock valued at $21,944,000 after buying an additional 56,132 shares during the period. 99.59% of the stock is owned by institutional investors and hedge funds.
Sun Communities Company Profile
(
Get Free ReportEstablished 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.
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