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

Sun Communities, Inc. (NYSE:SUI) has earned a consensus recommendation of “Hold” from the fourteen ratings firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $137.08.

Several brokerages have recently commented on SUI. Royal Bank of Canada lowered their price objective on Sun Communities from $147.00 to $135.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. BMO Capital Markets dropped their price objective on Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Bank of America downgraded shares of Sun Communities from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $147.00 to $114.00 in a report on Tuesday, November 12th. UBS Group downgraded shares of Sun Communities from a “buy” rating to a “neutral” rating and lowered their target price for the company from $155.00 to $134.00 in a report on Thursday, November 14th. Finally, StockNews.com cut shares of Sun Communities from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. grew its stake in Sun Communities by 6.9% in the 3rd quarter. Victory Capital Management Inc. now owns 77,203 shares of the real estate investment trust’s stock valued at $10,434,000 after buying an additional 5,008 shares in the last quarter. FMR LLC boosted 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 period. KBC Group NV grew its position in shares of Sun Communities by 303.3% in the third quarter. KBC Group NV now owns 109,939 shares of the real estate investment trust’s stock valued at $14,858,000 after purchasing an additional 82,682 shares in the last quarter. AMG National Trust Bank bought a new stake in shares of Sun Communities during the 3rd quarter valued at $1,690,000. Finally, Swedbank AB lifted its holdings in Sun Communities by 52.8% during the 3rd quarter. Swedbank AB now owns 162,368 shares of the real estate investment trust’s stock worth $21,944,000 after purchasing an additional 56,132 shares in the last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Sun Communities Stock Performance

SUI opened at $123.87 on Thursday. Sun Communities has a 1-year low of $110.98 and a 1-year high of $147.83. The company has a market cap of $15.78 billion, a price-to-earnings ratio of 66.60, a PEG ratio of 0.51 and a beta of 0.88. The company’s fifty day moving average price is $128.25 and its two-hundred day moving average price is $128.43. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93.

Sun Communities (NYSE:SUI) last posted its earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.20). Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The business had revenue of $939.90 million for the quarter, compared to the consensus estimate of $980.41 million. During the same period in the previous year, the firm earned $2.57 earnings per share. The company’s revenue was down 4.4% on a year-over-year basis. On average, analysts expect that Sun Communities will post 6.78 EPS for the current fiscal year.

Sun Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date is Tuesday, December 31st. Sun Communities’s dividend payout ratio is currently 202.15%.

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.