Sun Communities, Inc. (NYSE:SUI) Given Consensus Recommendation of “Moderate Buy” by Analysts

Sun Communities, Inc. (NYSE:SUI) has been given a consensus rating of “Moderate Buy” by the eleven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $136.27.

Several equities research analysts recently commented on SUI shares. Evercore ISI dropped their target price on Sun Communities from $145.00 to $128.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Truist Financial dropped their price target on shares of Sun Communities from $143.00 to $136.00 and set a “hold” rating on the stock in a research note on Monday, March 18th. Compass Point lifted their target price on shares of Sun Communities from $116.00 to $125.00 and gave the company a “neutral” rating in a research note on Thursday, March 21st. Royal Bank of Canada decreased their price target on Sun Communities from $142.00 to $130.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Finally, JMP Securities reiterated a “market outperform” rating and issued a $150.00 target price on shares of Sun Communities in a research note on Thursday, May 2nd.

Institutional Trading of Sun Communities

Institutional investors have recently bought and sold shares of the stock. Sugarloaf Wealth Management LLC raised its holdings in Sun Communities by 9.2% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 927 shares of the real estate investment trust’s stock worth $124,000 after buying an additional 78 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in Sun Communities by 0.3% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 29,808 shares of the real estate investment trust’s stock valued at $3,833,000 after purchasing an additional 100 shares during the last quarter. Yousif Capital Management LLC boosted its holdings in shares of Sun Communities by 1.7% during the 4th quarter. Yousif Capital Management LLC now owns 6,236 shares of the real estate investment trust’s stock worth $833,000 after buying an additional 105 shares during the period. US Bancorp DE grew its position in shares of Sun Communities by 0.5% in the fourth quarter. US Bancorp DE now owns 20,541 shares of the real estate investment trust’s stock valued at $2,745,000 after purchasing an additional 107 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. grew its holdings in Sun Communities by 5.9% in the 1st quarter. ZWJ Investment Counsel Inc. now owns 2,017 shares of the real estate investment trust’s stock valued at $259,000 after buying an additional 112 shares in the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Price Performance

Shares of SUI opened at $118.34 on Thursday. Sun Communities has a one year low of $102.74 and a one year high of $141.52. The firm has a market capitalization of $14.75 billion, a price-to-earnings ratio of 102.02, a price-to-earnings-growth ratio of 1.05 and a beta of 0.87. The stock’s fifty day moving average is $117.65 and its 200-day moving average is $125.37. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.78 and a current ratio of 1.78.

Sun Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date is Friday, June 28th. Sun Communities’s payout ratio is 324.14%.

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.