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

Shares of Sun Communities, Inc. (NYSE:SUI) have been given an average rating of “Hold” by the eleven research firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $138.70.

Several analysts recently commented on the stock. JMP Securities restated a “market outperform” rating and set a $140.00 price target (down previously from $150.00) on shares of Sun Communities in a research report on Monday, April 21st. Truist Financial dropped their price target on shares of Sun Communities from $142.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Robert W. Baird dropped their price target on shares of Sun Communities from $128.00 to $126.00 and set a “neutral” rating on the stock in a research report on Thursday, May 8th. Bank of America raised their price target on shares of Sun Communities from $124.00 to $132.00 and gave the company an “underperform” rating in a research report on Monday, May 12th. Finally, Jefferies Financial Group assumed coverage on shares of Sun Communities in a research report on Tuesday, April 8th. They set a “buy” rating and a $150.00 price target on the stock.

Sun Communities Trading Up 1.8%

Shares of Sun Communities stock opened at $123.43 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. The firm has a fifty day moving average price of $125.14 and a 200 day moving average price of $125.97. Sun Communities has a 1 year low of $109.22 and a 1 year high of $147.83. The stock has a market cap of $15.75 billion, a PE ratio of 66.36 and a beta of 0.86.

Sun Communities (NYSE:SUI) last issued its earnings results on Monday, May 5th. The real estate investment trust reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.08. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The firm had revenue of $470.20 million during the quarter, compared to analysts’ expectations of $538.63 million. During the same quarter last year, the company posted $1.19 earnings per share. The firm’s revenue was up .2% compared to the same quarter last year. Equities research analysts predict that Sun Communities will post 6.77 earnings per share for the current year.

Sun Communities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.94 dividend. The ex-dividend date was Monday, March 31st. This represents a $3.76 annualized dividend and a dividend yield of 3.05%. Sun Communities’s dividend payout ratio (DPR) is 606.45%.

Institutional Trading of Sun Communities

Several institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new position in Sun Communities during the fourth quarter worth about $888,783,000. Dodge & Cox boosted its position in Sun Communities by 42.1% during the first quarter. Dodge & Cox now owns 13,647,820 shares of the real estate investment trust’s stock worth $1,755,656,000 after acquiring an additional 4,041,802 shares during the last quarter. Cohen & Steers Inc. boosted its position in Sun Communities by 30.3% during the fourth quarter. Cohen & Steers Inc. now owns 16,373,446 shares of the real estate investment trust’s stock worth $2,013,414,000 after acquiring an additional 3,811,528 shares during the last quarter. FMR LLC boosted its position in Sun Communities by 51.3% during the fourth quarter. FMR LLC now owns 7,917,870 shares of the real estate investment trust’s stock worth $973,660,000 after acquiring an additional 2,684,214 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Sun Communities by 19.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,549,540 shares of the real estate investment trust’s stock worth $682,429,000 after acquiring an additional 911,857 shares during the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

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.