Sun Communities, Inc. (NYSE:SUI) Receives Average Recommendation of “Buy” from Analysts

Sun Communities, Inc. (NYSE:SUIGet Rating) has received an average rating of “Buy” from the ten ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation and seven have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $212.63.

SUI has been the subject of a number of research reports. StockNews.com downgraded Sun Communities from a “hold” rating to a “sell” rating in a research note on Thursday, May 5th. Barclays decreased their price target on Sun Communities from $236.00 to $230.00 and set an “overweight” rating for the company in a research note on Thursday, April 14th. Zacks Investment Research upgraded Sun Communities from a “hold” rating to a “buy” rating and set a $186.00 price target for the company in a research note on Tuesday. Truist Financial started coverage on Sun Communities in a research note on Tuesday, May 10th. They issued a “buy” rating and a $185.00 price target for the company. Finally, JMP Securities started coverage on shares of Sun Communities in a report on Wednesday, April 20th. They issued an “outperform” rating and a $220.00 target price on the stock.

Shares of Sun Communities stock opened at $165.02 on Wednesday. The business has a 50-day moving average of $171.89 and a 200-day moving average of $184.17. 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 company has a market capitalization of $20.07 billion, a PE ratio of 53.23, a P/E/G ratio of 2.58 and a beta of 0.64. Sun Communities has a 1-year low of $151.51 and a 1-year high of $211.79.

Sun Communities (NYSE:SUIGet Rating) last announced its earnings results on Monday, April 25th. The real estate investment trust reported $0.01 earnings per share 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 period last year, the company earned $1.26 EPS. On average, equities analysts expect that Sun Communities will post 7.3 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be issued a dividend of $0.88 per share. The ex-dividend date is Wednesday, June 29th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.13%. Sun Communities’s dividend payout ratio (DPR) is presently 113.55%.

In other news, COO John Bandini Mclaren sold 11,500 shares of Sun Communities stock in a transaction that occurred on Thursday, April 28th. The stock was sold at an average price of $180.27, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.25% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Riverview Trust Co acquired a new position in shares of Sun Communities during the first quarter valued at approximately $28,000. Andrew Hill Investment Advisors Inc. acquired a new position in Sun Communities in the fourth quarter worth approximately $45,000. Meeder Asset Management Inc. acquired a new position in Sun Communities in the first quarter worth approximately $41,000. Spire Wealth Management grew its position in Sun Communities by 658.3% in the fourth quarter. Spire Wealth Management now owns 273 shares of the real estate investment trust’s stock worth $57,000 after buying an additional 237 shares during the last quarter. Finally, MUFG Americas Holdings Corp grew its position in Sun Communities by 56.5% in the fourth quarter. MUFG Americas Holdings Corp now owns 288 shares of the real estate investment trust’s stock worth $60,000 after buying an additional 104 shares during the last quarter.

Sun Communities Company Profile (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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