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

Sun Communities, Inc. (NYSE:SUI) has been given an average rating of “Moderate Buy” by the eleven analysts that are covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $137.64.

Several equities analysts recently weighed in on SUI shares. Royal Bank of Canada lifted their target price on shares of Sun Communities from $131.00 to $137.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. StockNews.com cut Sun Communities from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Evercore ISI increased their target price on Sun Communities from $143.00 to $144.00 and gave the company an “outperform” rating in a research note on Wednesday, August 28th. Truist Financial raised their target price on Sun Communities from $127.00 to $138.00 and gave the company a “hold” rating in a report on Tuesday, August 13th. Finally, Robert W. Baird increased their price objective on shares of Sun Communities from $144.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, September 3rd.

Sun Communities Trading Down 0.8 %

NYSE SUI opened at $140.04 on Tuesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.42 and a current ratio of 1.42. Sun Communities has a one year low of $102.74 and a one year high of $141.33. The company’s 50 day moving average price is $128.63 and its 200 day moving average price is $124.44. The firm has a market capitalization of $17.45 billion, a price-to-earnings ratio of 120.72, a PEG ratio of 1.03 and a beta of 0.91.

Sun Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.94 dividend. The ex-dividend date is Monday, September 30th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.68%. Sun Communities’s dividend payout ratio (DPR) is presently 324.14%.

Insider Activity

In other Sun Communities news, CEO Baxter Underwood sold 3,000 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $131.43, for a total transaction of $394,290.00. Following the sale, the chief executive officer now directly owns 63,462 shares of the company’s stock, valued at $8,340,810.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.89% of the company’s stock.

Hedge Funds Weigh In On Sun Communities

Several institutional investors have recently made changes to their positions in SUI. National Bank of Canada FI boosted its holdings in shares of Sun Communities by 5,804.9% during the fourth quarter. National Bank of Canada FI now owns 26,336 shares of the real estate investment trust’s stock valued at $3,569,000 after acquiring an additional 25,890 shares during the period. Apollon Wealth Management LLC grew its position in Sun Communities by 5.3% in the 4th quarter. Apollon Wealth Management LLC now owns 2,936 shares of the real estate investment trust’s stock worth $392,000 after purchasing an additional 147 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of Sun Communities in the fourth quarter valued at approximately $172,000. BNP Paribas Financial Markets raised its holdings in shares of Sun Communities by 1,143.0% during the fourth quarter. BNP Paribas Financial Markets now owns 114,173 shares of the real estate investment trust’s stock valued at $15,259,000 after buying an additional 104,988 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Sun Communities by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,782,006 shares of the real estate investment trust’s stock worth $238,170,000 after buying an additional 5,031 shares during the period. 99.59% of the stock is owned by institutional investors.

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.