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

Sun Communities, Inc. (NYSE:SUI) has earned a consensus rating of “Hold” from the eleven research firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $135.70.

SUI has been the topic of several research analyst reports. JMP Securities restated a “market outperform” rating and issued a $140.00 price objective (down previously from $150.00) on shares of Sun Communities in a research note on Monday. Truist Financial dropped their price objective on shares of Sun Communities from $142.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Royal Bank of Canada reiterated an “outperform” rating on shares of Sun Communities in a research note on Friday, February 28th. Finally, Jefferies Financial Group began coverage on Sun Communities in a research report on Tuesday, April 8th. They issued a “buy” rating and a $150.00 price objective for the company.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Legacy Trust bought a new stake in shares of Sun Communities during the 4th quarter valued at $625,000. Aurora Investment Managers LLC. increased its stake in Sun Communities by 9.7% in the fourth quarter. Aurora Investment Managers LLC. now owns 27,490 shares of the real estate investment trust’s stock valued at $3,380,000 after purchasing an additional 2,435 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Sun Communities by 16.1% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 779,744 shares of the real estate investment trust’s stock worth $95,885,000 after purchasing an additional 108,054 shares during the period. VCI Wealth Management LLC bought a new position in shares of Sun Communities during the fourth quarter worth $1,312,000. Finally, Vert Asset Management LLC grew its holdings in shares of Sun Communities by 9.9% in the 4th quarter. Vert Asset Management LLC now owns 56,083 shares of the real estate investment trust’s stock valued at $6,897,000 after buying an additional 5,060 shares during the period. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Sun Communities Stock Performance

NYSE:SUI opened at $121.24 on Wednesday. The firm has a market capitalization of $15.47 billion, a PE ratio of 65.18 and a beta of 0.84. Sun Communities has a 1 year low of $109.22 and a 1 year high of $147.83. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. The firm’s fifty day simple moving average is $127.41 and its 200 day simple moving average is $126.99.

Sun Communities (NYSE:SUI) last issued its quarterly earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.02. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The company had revenue of $745.90 million for the quarter, compared to the consensus estimate of $724.68 million. On average, sell-side analysts anticipate that Sun Communities will post 6.77 EPS for the current year.

Sun Communities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 3.10%. The ex-dividend date was Monday, March 31st. Sun Communities’s dividend payout ratio is 508.11%.

About Sun Communities

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.