Sun Communities, Inc. (NYSE:SUI) Given Average Recommendation of “Hold” by Analysts

Sun Communities, Inc. (NYSE:SUI) has been given a consensus rating of “Hold” by the eleven brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $136.60.

Several analysts have recently commented on SUI shares. Wells Fargo & Company lowered their target price on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Royal Bank of Canada reiterated an “outperform” rating on shares of Sun Communities in a research note on Friday, February 28th. Jefferies Financial Group cut their target price on Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Finally, Truist Financial upped their target price on Sun Communities from $136.00 to $142.00 and gave the company a “buy” rating in a report on Monday, March 10th.

Sun Communities Price Performance

Shares of NYSE SUI opened at $128.99 on Friday. The stock has a market cap of $16.46 billion, a price-to-earnings ratio of 69.35 and a beta of 0.90. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. 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 simple moving average is $129.02 and its 200 day simple moving average is $128.77.

Sun Communities (NYSE:SUI) last announced its earnings results 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. The company 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%. As a group, research analysts anticipate that Sun Communities will post 6.77 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

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

Institutional Investors Weigh In On Sun Communities

Several institutional investors have recently made changes to their positions in SUI. Aster Capital Management DIFC Ltd raised its stake in shares of Sun Communities by 263.6% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 232 shares during the period. Brooklyn Investment Group purchased a new position in Sun Communities during the 3rd quarter valued at about $41,000. Smartleaf Asset Management LLC increased its position in shares of Sun Communities by 45.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 124 shares during the period. CKW Financial Group lifted its holdings in shares of Sun Communities by 45.0% in the fourth quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 135 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in shares of Sun Communities in the third quarter valued at approximately $60,000. Hedge funds and other institutional investors 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.