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

Sun Communities, Inc. (NYSE:SUI) has been assigned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $142.20.

Several research analysts recently issued reports on the stock. Robert W. Baird raised their target price on shares of Sun Communities from $144.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, September 3rd. Royal Bank of Canada lifted their price objective on Sun Communities from $131.00 to $137.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. StockNews.com downgraded Sun Communities from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Wells Fargo & Company lifted their price target on Sun Communities from $123.00 to $154.00 and gave the company an “equal weight” rating in a research report on Thursday, September 19th. Finally, Evercore ISI lowered Sun Communities from an “outperform” rating to an “inline” rating and upped their price objective for the stock from $144.00 to $149.00 in a research report on Monday, September 16th.

Sun Communities Stock Performance

SUI opened at $126.71 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.09. Sun Communities has a 12-month low of $102.74 and a 12-month high of $147.83. The firm has a 50 day moving average of $135.04 and a two-hundred day moving average of $125.36. The firm has a market capitalization of $15.79 billion, a PE ratio of 109.23, a P/E/G ratio of 0.95 and a beta of 0.91.

Sun Communities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.94 per share. The ex-dividend date is Monday, September 30th. This represents a $3.76 annualized dividend and a dividend yield of 2.97%. Sun Communities’s dividend payout ratio (DPR) is presently 324.14%.

Insider Buying and Selling

In other Sun Communities news, CEO Baxter Underwood sold 3,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $131.43, for a total transaction of $394,290.00. Following the completion of the transaction, the chief executive officer now owns 63,462 shares of the company’s stock, valued at $8,340,810.66. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.89% of the stock is currently owned by insiders.

Institutional Trading of Sun Communities

Several large investors have recently made changes to their positions in SUI. Centersquare Investment Management LLC boosted its stake in Sun Communities by 4.7% during the 1st quarter. Centersquare Investment Management LLC now owns 2,171,868 shares of the real estate investment trust’s stock worth $279,259,000 after purchasing an additional 96,529 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Sun Communities by 8.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 143,209 shares of the real estate investment trust’s stock valued at $18,414,000 after acquiring an additional 11,195 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in Sun Communities in the 2nd quarter valued at about $13,164,000. SG Americas Securities LLC raised its holdings in Sun Communities by 145.0% in the 1st quarter. SG Americas Securities LLC now owns 20,576 shares of the real estate investment trust’s stock valued at $2,646,000 after acquiring an additional 12,177 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in Sun Communities in the 1st quarter worth approximately $1,106,000. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

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.