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

Shares of Sun Communities, Inc. (NYSE:SUI) have been given an average rating of “Hold” by the fourteen research firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $137.2308.

A number of equities research analysts have recently commented on the stock. Royal Bank Of Canada lifted their price target on shares of Sun Communities from $142.00 to $143.00 and gave the stock an “outperform” rating in a report on Thursday. Evercore ISI lifted their target price on shares of Sun Communities from $136.00 to $138.00 and gave the stock an “in-line” rating in a research note on Monday, September 15th. Wells Fargo & Company cut their price target on Sun Communities from $135.00 to $132.00 and set an “equal weight” rating for the company in a report on Wednesday, August 27th. Truist Financial raised their price objective on Sun Communities from $137.00 to $141.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Finally, Jefferies Financial Group set a $142.00 target price on Sun Communities and gave the company a “buy” rating in a research note on Monday, November 3rd.

Hedge Funds Weigh In On Sun Communities

A number of large investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Sun Communities in the 2nd quarter valued at about $925,926,000. Dodge & Cox lifted its holdings in Sun Communities by 42.1% in 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. Nuveen LLC acquired a new position in Sun Communities in the first quarter valued at approximately $112,395,000. Deutsche Bank AG grew its holdings in shares of Sun Communities by 103.7% during the first quarter. Deutsche Bank AG now owns 1,611,425 shares of the real estate investment trust’s stock valued at $207,294,000 after purchasing an additional 820,422 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Sun Communities by 10.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,118,054 shares of the real estate investment trust’s stock valued at $787,029,000 after purchasing an additional 568,514 shares during the period. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Sun Communities Price Performance

Shares of NYSE:SUI opened at $126.62 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 7.08 and a current ratio of 7.08. The business’s fifty day moving average price is $126.38 and its two-hundred day moving average price is $125.41. The stock has a market cap of $15.66 billion, a PE ratio of 15.87, a price-to-earnings-growth ratio of 4.05 and a beta of 0.86. Sun Communities has a one year low of $109.22 and a one year high of $137.77.

Sun Communities (NYSE:SUI) last issued its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.10. The business had revenue of $697.20 million for the quarter, compared to the consensus estimate of $713.32 million. Sun Communities had a negative return on equity of 4.51% and a net margin of 42.58%.The business’s revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.34 earnings per share. Sun Communities has set its Q4 2025 guidance at 1.310-1.390 EPS. FY 2025 guidance at 6.590-6.670 EPS. On average, analysts forecast that Sun Communities will post 6.77 EPS for the current fiscal year.

Sun Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a $1.04 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $4.16 annualized dividend and a dividend yield of 3.3%. Sun Communities’s dividend payout ratio (DPR) is currently 52.13%.

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.