Sun Communities, Inc. (NYSE:SUI) Given Average Rating of “Moderate Buy” by Analysts

Sun Communities, Inc. (NYSE:SUI) has been assigned a consensus rating of “Moderate Buy” from the eleven brokerages that are covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $138.92.

Several research analysts recently commented on SUI shares. Deutsche Bank Aktiengesellschaft began coverage on shares of Sun Communities in a research note on Tuesday, January 30th. They set a “hold” rating and a $129.00 price objective for the company. Barclays reduced their target price on shares of Sun Communities from $157.00 to $155.00 and set an “overweight” rating for the company in a research report on Friday, January 26th. Compass Point upped their price objective on Sun Communities from $116.00 to $125.00 and gave the company a “neutral” rating in a report on Thursday, March 21st. Evercore ISI reduced their price target on shares of Sun Communities from $145.00 to $128.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $150.00 price objective on shares of Sun Communities in a research report on Thursday, May 2nd.

Sun Communities Trading Up 0.7 %

Shares of SUI opened at $116.45 on Wednesday. Sun Communities has a fifty-two week low of $102.74 and a fifty-two week high of $141.52. The company’s fifty day moving average is $124.94 and its 200 day moving average is $125.88. The stock has a market capitalization of $14.51 billion, a PE ratio of 100.39, a P/E/G ratio of 1.05 and a beta of 0.83. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.78 and a current ratio of 1.78.

Sun Communities Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a $0.94 dividend. This is an increase from Sun Communities’s previous quarterly dividend of $0.93. This represents a $3.76 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend was Wednesday, March 27th. Sun Communities’s payout ratio is presently 324.14%.

Insider Activity

In related news, Director Craig Leupold sold 2,500 shares of Sun Communities stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $128.39, for a total transaction of $320,975.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Sun Communities news, CEO Baxter Underwood sold 4,000 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $131.48, for a total transaction of $525,920.00. Following the completion of the transaction, the chief executive officer now owns 66,852 shares of the company’s stock, valued at approximately $8,789,700.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Craig Leupold sold 2,500 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $128.39, for a total transaction of $320,975.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,000 shares of company stock valued at $912,460. Insiders own 1.89% of the company’s stock.

Hedge Funds Weigh In On Sun Communities

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SUI. Farmers & Merchants Investments Inc. bought a new position in Sun Communities during the 1st quarter worth approximately $26,000. Lindbrook Capital LLC raised its stake in Sun Communities by 120.2% in the third quarter. Lindbrook Capital LLC now owns 229 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 125 shares during the period. V Square Quantitative Management LLC bought a new position in Sun Communities in the 4th quarter valued at about $32,000. CKW Financial Group bought a new stake in Sun Communities in the 1st quarter valued at about $38,000. Finally, Quest Partners LLC bought a new position in Sun Communities during the 4th quarter worth $51,000. 99.59% of the stock is currently owned by institutional investors and hedge funds.

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.