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

Sun Communities, Inc. (NYSE:SUI) has been assigned an average rating of “Hold” from the fourteen brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $137.4615.

SUI has been the topic of a number of research reports. Morgan Stanley cut their price objective on shares of Sun Communities from $139.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 25th. UBS Group upped their price target on shares of Sun Communities from $126.00 to $127.00 and gave the company a “neutral” rating in a report on Thursday, January 8th. Robert W. Baird increased their price target on Sun Communities from $134.00 to $136.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 19th. Jefferies Financial Group set a $142.00 price objective on Sun Communities and gave the company a “buy” rating in a research note on Monday, November 3rd. Finally, Wall Street Zen raised Sun Communities from a “sell” rating to a “hold” rating in a report on Sunday, November 9th.

Insider Buying and Selling

In other news, Director Gary A. Shiffman sold 156,875 shares of Sun Communities stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $123.53, for a total transaction of $19,378,768.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.89% of the company’s stock.

Institutional Trading of Sun Communities

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SUI. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Sun Communities by 1,226.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 199 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 184 shares in the last quarter. Fulcrum Asset Management LLP purchased a new position in shares of Sun Communities in the 3rd quarter valued at about $27,000. Aster Capital Management DIFC Ltd acquired a new position in Sun Communities in the 3rd quarter worth about $27,000. Elevation Point Wealth Partners LLC acquired a new position in Sun Communities in the 2nd quarter worth about $30,000. Finally, MAI Capital Management boosted its position 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 worth $34,000 after purchasing an additional 166 shares in the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Price Performance

Shares of NYSE SUI opened at $130.85 on Tuesday. The business’s 50 day moving average price is $125.29 and its 200 day moving average price is $126.08. The firm has a market cap of $16.18 billion, a P/E ratio of 16.40, a P/E/G ratio of 4.31 and a beta of 0.90. Sun Communities has a 52 week low of $109.22 and a 52 week high of $137.77. The company has a quick ratio of 6.01, a current ratio of 6.01 and a debt-to-equity ratio of 0.58.

Sun Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Wednesday, December 31st were issued a $1.04 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $4.16 dividend on an annualized basis and a yield of 3.2%. Sun Communities’s payout ratio is presently 52.13%.

About Sun Communities

Sun Communities, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company’s portfolio spans more than 500 manufactured housing communities and over 160 RV resorts, offering affordable, long-term housing as well as short-stay recreational lodging. Through professional on-site management and amenity-rich community designs, Sun Communities serves a diverse customer base that includes retirees, workforce families and vacationers.

Founded in 1975 and headquartered in Southfield, Michigan, Sun Communities has grown organically and through strategic acquisitions to become one of the largest operators in its sector.