Sun Communities, Inc. (NYSE:SUI) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Sun Communities, Inc. (NYSE:SUI) have been given an average rating of “Moderate Buy” by the eleven analysts that are currently covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $136.27.

Several equities analysts have recently weighed in on the company. Compass Point lifted their price objective on Sun Communities from $116.00 to $125.00 and gave the company a “neutral” rating in a report on Thursday, March 21st. Truist Financial cut their target price on Sun Communities from $143.00 to $136.00 and set a “hold” rating on the stock in a research note on Monday, March 18th. Evercore ISI cut their target price on Sun Communities from $145.00 to $128.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. JMP Securities restated a “market outperform” rating and issued a $150.00 target price on shares of Sun Communities in a research note on Thursday, May 2nd. Finally, Royal Bank of Canada cut their target price on Sun Communities from $142.00 to $130.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st.

Sun Communities Trading Down 0.2 %

NYSE:SUI opened at $117.85 on Thursday. Sun Communities has a fifty-two week low of $102.74 and a fifty-two week high of $141.52. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.78 and a quick ratio of 1.78. The stock has a market capitalization of $14.69 billion, a PE ratio of 101.60, a price-to-earnings-growth ratio of 1.04 and a beta of 0.88. The business’s 50-day simple moving average is $117.66 and its 200-day simple moving average is $124.87.

Sun Communities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Friday, June 28th. Sun Communities’s dividend payout ratio (DPR) is 324.14%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Mariner LLC increased its holdings in shares of Sun Communities by 1.6% during the 3rd quarter. Mariner LLC now owns 11,291 shares of the real estate investment trust’s stock worth $1,336,000 after acquiring an additional 183 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of Sun Communities by 12.8% during the 3rd quarter. Federated Hermes Inc. now owns 8,791 shares of the real estate investment trust’s stock worth $1,040,000 after acquiring an additional 1,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Sun Communities during the 3rd quarter worth approximately $2,515,000. Treasurer of the State of North Carolina increased its holdings in shares of Sun Communities by 0.4% during the 3rd quarter. Treasurer of the State of North Carolina now owns 55,552 shares of the real estate investment trust’s stock worth $6,574,000 after acquiring an additional 220 shares during the last quarter. Finally, Bank of Nova Scotia increased its holdings in shares of Sun Communities by 16.2% during the 3rd quarter. Bank of Nova Scotia now owns 3,612 shares of the real estate investment trust’s stock worth $427,000 after acquiring an additional 503 shares during the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

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.