Sun Communities, Inc. (NYSE:SUI) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Sun Communities, Inc. (NYSE:SUIGet Rating) have been given a consensus recommendation of “Buy” by the twelve ratings firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $208.78.

Several equities analysts have weighed in on SUI shares. Truist Financial started coverage on Sun Communities in a research note on Tuesday. They issued a “buy” rating and a $185.00 target price on the stock. lowered shares of Sun Communities from a “hold” rating to a “sell” rating in a research note on Thursday, May 5th. Robert W. Baird lowered their target price on shares of Sun Communities from $210.00 to $205.00 in a research note on Wednesday, March 30th. Zacks Investment Research lowered shares of Sun Communities from a “buy” rating to a “hold” rating in a report on Thursday, May 5th. Finally, JMP Securities initiated coverage on shares of Sun Communities in a report on Wednesday, April 20th. They issued an “outperform” rating and a $220.00 price target for the company.

Shares of Sun Communities stock opened at $162.93 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.40 and a quick ratio of 3.40. The firm has a market cap of $19.81 billion, a P/E ratio of 52.56, a P/E/G ratio of 2.46 and a beta of 0.63. The firm has a 50 day simple moving average of $176.97 and a 200 day simple moving average of $188.28. Sun Communities has a fifty-two week low of $155.51 and a fifty-two week high of $211.79.

Sun Communities (NYSE:SUIGet Rating) last issued its earnings results on Monday, April 25th. The real estate investment trust reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). Sun Communities had a net margin of 14.97% and a return on equity of 5.09%. During the same quarter in the prior year, the firm posted $1.26 EPS. On average, sell-side analysts expect that Sun Communities will post 7.31 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 15th. Investors of record on Thursday, March 31st were given a $0.88 dividend. This is a boost from Sun Communities’s previous quarterly dividend of $0.83. This represents a $3.52 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend was Wednesday, March 30th. Sun Communities’s payout ratio is currently 113.55%.

In other news, COO John Bandini Mclaren sold 11,500 shares of the business’s stock in a transaction on Thursday, April 28th. The shares were sold at an average price of $180.27, for a total value of $2,073,105.00. Following the sale, the chief operating officer now owns 148,691 shares of the company’s stock, valued at $26,804,526.57. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Clunet R. Lewis sold 500 shares of the firm’s stock in a transaction on Thursday, February 24th. The shares were sold at an average price of $177.63, for a total transaction of $88,815.00. The disclosure for this sale can be found here. 2.25% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of SUI. Achmea Investment Management B.V. bought a new stake in Sun Communities during the third quarter worth $25,000. Moors & Cabot Inc. acquired a new position in shares of Sun Communities during the 3rd quarter worth about $26,000. Riverview Trust Co bought a new stake in shares of Sun Communities in the 1st quarter valued at about $28,000. First Horizon Advisors Inc. lifted its stake in Sun Communities by 219.4% in the 3rd quarter. First Horizon Advisors Inc. now owns 198 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 136 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new position in Sun Communities during the first quarter worth about $41,000.

About Sun Communities (Get Rating)

Sun Communities, Inc is a REIT that, as of September 30, 2020, owned, operated, or had an interest in a portfolio of 432 communities comprising nearly 146,000 developed sites in 32 states and Ontario, Canada.

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Analyst Recommendations for Sun Communities (NYSE:SUI)

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