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

Sun Communities, Inc. (NYSE:SUI - Get Free Report) has been given a consensus recommendation of "Hold" by the eleven research firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $136.60.

SUI has been the subject of a number of research reports. Wells Fargo & Company dropped their price objective on Sun Communities from $154.00 to $135.00 and set an "equal weight" rating for the company in a research note on Wednesday, December 11th. Royal Bank of Canada reaffirmed an "outperform" rating on shares of Sun Communities in a research report on Friday, February 28th. Jefferies Financial Group reduced their price target on shares of Sun Communities from $145.00 to $142.00 and set a "buy" rating on the stock in a research report on Thursday, January 2nd. Finally, Truist Financial upped their price target on Sun Communities from $136.00 to $142.00 and gave the stock a "buy" rating in a report on Monday, March 10th.

Sun Communities Trading Up 0.4 %

Shares of SUI traded up $0.51 during midday trading on Friday, reaching $128.99. The company had a trading volume of 389,824 shares, compared to its average volume of 825,614. Sun Communities has a 1-year low of $110.98 and a 1-year high of $147.83. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. The firm has a 50 day simple moving average of $129.02 and a 200-day simple moving average of $128.77. The stock has a market cap of $16.46 billion, a PE ratio of 69.35 and a beta of 0.90.

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Sun Communities (NYSE:SUI - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 EPS for the quarter, beating analysts' consensus estimates of $1.39 by $0.02. The firm had revenue of $745.90 million for the quarter, compared to analysts' expectations of $724.68 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. Research analysts forecast that Sun Communities will post 6.77 EPS for the current fiscal year.

Sun Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.94 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.76 annualized dividend and a yield of 2.91%. Sun Communities's dividend payout ratio is presently 508.11%.

Institutional Investors Weigh In On Sun Communities

Several large investors have recently modified their holdings of the company. Legacy Trust purchased a new position in shares of Sun Communities during the fourth quarter worth about $625,000. Aurora Investment Managers LLC. boosted its position in Sun Communities by 9.7% during the fourth quarter. Aurora Investment Managers LLC. now owns 27,490 shares of the real estate investment trust's stock worth $3,380,000 after purchasing an additional 2,435 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in Sun Communities by 16.1% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 779,744 shares of the real estate investment trust's stock valued at $95,885,000 after acquiring an additional 108,054 shares during the last quarter. VCI Wealth Management LLC purchased a new position in shares of Sun Communities during the 4th quarter worth approximately $1,312,000. Finally, FMR LLC raised its holdings in shares of Sun Communities by 37.6% in the third quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust's stock worth $707,329,000 after acquiring an additional 1,430,630 shares during the last quarter. 99.59% of the stock is owned by institutional investors and hedge funds.

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.