Sun Communities (NYSE:SUI) Upgraded at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Sun Communities (NYSE:SUI) to a strong-buy rating in a research report released on Monday,Zacks.com reports.

A number of other brokerages have also weighed in on SUI. Truist Financial boosted their target price on Sun Communities from $137.00 to $141.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Royal Bank Of Canada lowered their price objective on shares of Sun Communities from $147.00 to $143.00 and set an “outperform” rating on the stock in a research report on Friday, August 1st. Evercore ISI raised their target price on shares of Sun Communities from $136.00 to $138.00 and gave the stock an “in-line” rating in a report on Monday, September 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Sun Communities in a research note on Wednesday, October 8th. Finally, Morgan Stanley set a $142.00 price target on Sun Communities in a report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Sun Communities has an average rating of “Hold” and an average target price of $137.86.

Sun Communities Trading Up 0.7%

NYSE:SUI opened at $125.65 on Monday. The stock has a market cap of $15.73 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 6.41 and a beta of 0.86. The company has a quick ratio of 7.08, a current ratio of 7.08 and a debt-to-equity ratio of 0.55. The company’s 50 day moving average price is $126.96 and its 200-day moving average price is $125.05. Sun Communities has a 52 week low of $109.22 and a 52 week high of $140.49.

Sun Communities (NYSE:SUI) last announced its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.09. Sun Communities had a net margin of 48.86% and a negative return on equity of 0.60%. The company had revenue of $623.50 million during the quarter, compared to analyst estimates of $614.79 million. During the same period in the previous year, the business earned $1.86 EPS. Sun Communities has set its FY 2025 guidance at 6.510-6.670 EPS. Q3 2025 guidance at 2.130-2.230 EPS. On average, equities research analysts forecast that Sun Communities will post 6.77 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $4.16 dividend on an annualized basis and a yield of 3.3%. Sun Communities’s payout ratio is 40.70%.

Hedge Funds Weigh In On Sun Communities

Several institutional investors have recently made changes to their positions in SUI. Twin Tree Management LP purchased a new stake in Sun Communities in the first quarter worth about $29,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Sun Communities in the 2nd quarter worth approximately $30,000. Ransom Advisory Ltd bought a new position in shares of Sun Communities during the first quarter valued at approximately $31,000. MAI Capital Management increased its holdings in Sun Communities by 164.4% during the second quarter. MAI Capital Management now owns 267 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 166 shares during the period. Finally, Harbor Capital Advisors Inc. bought a new position in Sun Communities in the third quarter worth approximately $37,000. Hedge funds and other institutional investors 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.