Sun Communities (NYSE:SUI) Stock Rating Upgraded by UBS Group

UBS Group upgraded shares of Sun Communities (NYSE:SUI) to a strong-buy rating in a report published on Thursday, Zacks.com reports.

Several other research firms also recently commented on SUI. StockNews.com upgraded shares of Sun Communities from a sell rating to a hold rating in a research note on Thursday. Wells Fargo & Company upped their price target on shares of Sun Communities from $123.00 to $154.00 and gave the company an equal weight rating in a research note on Thursday, September 19th. Truist Financial upped their price target on shares of Sun Communities from $127.00 to $138.00 and gave the company a hold rating in a research note on Tuesday, August 13th. Robert W. Baird increased their price objective on shares of Sun Communities from $144.00 to $145.00 and gave the stock an outperform rating in a research note on Tuesday, September 3rd. Finally, Evercore ISI downgraded shares of Sun Communities from an outperform rating to an inline rating and increased their price objective for the stock from $144.00 to $149.00 in a research note on Monday, September 16th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $142.20.

Sun Communities Trading Up 0.7 %

SUI stock opened at $129.80 on Thursday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.42 and a current ratio of 1.42. The company’s 50-day simple moving average is $134.84 and its 200 day simple moving average is $125.43. Sun Communities has a 52 week low of $102.74 and a 52 week high of $147.83. The company has a market capitalization of $16.18 billion, a PE ratio of 150.93, a price-to-earnings-growth ratio of 0.93 and a beta of 0.91.

Sun Communities Announces Dividend

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 issued a $0.94 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.90%. Sun Communities’s dividend payout ratio (DPR) is currently 437.21%.

Insider Transactions at Sun Communities

In other news, CEO Baxter Underwood sold 3,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $131.43, for a total value of $394,290.00. Following the completion of the transaction, the chief executive officer now owns 63,462 shares of the company’s stock, valued at approximately $8,340,810.66. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.89% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its holdings in Sun Communities by 50.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,302,804 shares of the real estate investment trust’s stock valued at $424,677,000 after buying an additional 1,105,306 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Sun Communities by 3.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,949,862 shares of the real estate investment trust’s stock valued at $354,986,000 after buying an additional 111,569 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in Sun Communities by 24.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 2,195,884 shares of the real estate investment trust’s stock valued at $264,253,000 after buying an additional 424,842 shares during the last quarter. Centersquare Investment Management LLC raised its holdings in Sun Communities by 4.7% in the 1st quarter. Centersquare Investment Management LLC now owns 2,171,868 shares of the real estate investment trust’s stock valued at $279,259,000 after buying an additional 96,529 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Sun Communities by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,784,547 shares of the real estate investment trust’s stock valued at $214,752,000 after buying an additional 10,592 shares during the last quarter. 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.