Sun Communities (NYSE:SUI - Free Report) had its price target trimmed by Truist Financial from $142.00 to $135.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the real estate investment trust's stock.
Several other research firms have also commented on SUI. Jefferies Financial Group began coverage on shares of Sun Communities in a report on Tuesday, April 8th. They issued a "buy" rating and a $150.00 price target on the stock. Royal Bank of Canada reissued an "outperform" rating on shares of Sun Communities in a research note on Friday, February 28th. Finally, Wells Fargo & Company decreased their price target on shares of Sun Communities from $154.00 to $135.00 and set an "equal weight" rating for the company in a research report on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Sun Communities has an average rating of "Hold" and an average target price of $136.70.
Check Out Our Latest Stock Report on SUI
Sun Communities Trading Down 1.0 %
Sun Communities stock traded down $1.26 during trading on Thursday, reaching $121.92. The company had a trading volume of 230,096 shares, compared to its average volume of 832,103. 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 $15.56 billion, a price-to-earnings ratio of 65.55 and a beta of 0.84. Sun Communities has a 12-month low of $109.22 and a 12-month high of $147.83. The stock's 50 day moving average price is $127.82 and its two-hundred day moving average price is $127.38.
Sun Communities (NYSE:SUI - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.02. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The company had revenue of $745.90 million during the quarter, compared to analysts' expectations of $724.68 million. As a group, equities analysts expect that Sun Communities will post 6.77 earnings per share for the current fiscal year.
Sun Communities Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend is Monday, March 31st. Sun Communities's payout ratio is currently 508.11%.
Institutional Trading of Sun Communities
Several institutional investors have recently added to or reduced their stakes in SUI. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Sun Communities by 8.5% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,069 shares of the real estate investment trust's stock valued at $131,000 after purchasing an additional 84 shares in the last quarter. Cascade Investment Advisors Inc. raised its stake in Sun Communities by 0.8% during the fourth quarter. Cascade Investment Advisors Inc. now owns 10,373 shares of the real estate investment trust's stock valued at $1,276,000 after buying an additional 85 shares in the last quarter. Utah Retirement Systems grew its position in shares of Sun Communities by 0.5% in the 4th quarter. Utah Retirement Systems now owns 20,503 shares of the real estate investment trust's stock worth $2,521,000 after acquiring an additional 100 shares in the last quarter. Cetera Trust Company N.A increased its holdings in shares of Sun Communities by 6.0% in the 4th quarter. Cetera Trust Company N.A now owns 1,865 shares of the real estate investment trust's stock valued at $229,000 after acquiring an additional 105 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its position in shares of Sun Communities by 17.2% during the 4th quarter. Quadrant Capital Group LLC now owns 837 shares of the real estate investment trust's stock valued at $103,000 after acquiring an additional 123 shares in the last quarter. 99.59% of the stock is owned by institutional investors and hedge funds.
About Sun Communities
(
Get Free Report)
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.
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