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

Sun Communities, Inc. (NYSE:SUI) has earned a consensus rating of “Hold” from the fourteen ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $139.08.

A number of research firms have issued reports on SUI. StockNews.com cut Sun Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Bank of America cut shares of Sun Communities from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $147.00 to $114.00 in a research note on Tuesday, November 12th. Truist Financial lifted their price objective 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 cut shares of Sun Communities from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $145.00 to $126.00 in a research note on Thursday, November 7th. Finally, Wells Fargo & Company lifted their price objective 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.

Sun Communities Stock Performance

Shares of SUI opened at $128.56 on Friday. The business’s fifty day moving average price is $131.21 and its 200 day moving average price is $127.73. Sun Communities has a 12-month low of $110.98 and a 12-month high of $147.83. The stock has a market capitalization of $16.38 billion, a PE ratio of 69.12, a price-to-earnings-growth ratio of 0.54 and a beta of 0.91. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61.

Sun Communities (NYSE:SUI) last posted its earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). The company had revenue of $939.90 million during the quarter, compared to the consensus estimate of $980.41 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.57 earnings per share. Equities research analysts forecast that Sun Communities will post 6.78 EPS for the current year.

Sun Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date was Monday, September 30th. Sun Communities’s payout ratio is currently 202.15%.

Hedge Funds Weigh In On Sun Communities

A number of institutional investors have recently bought and sold shares of SUI. FMR LLC raised its holdings in Sun Communities by 37.6% during the 3rd quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust’s stock worth $707,329,000 after buying an additional 1,430,630 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Sun Communities by 1,061.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,323,479 shares of the real estate investment trust’s stock worth $178,868,000 after buying an additional 1,209,522 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Sun Communities by 50.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,302,804 shares of the real estate investment trust’s stock worth $424,677,000 after buying an additional 1,105,306 shares during the period. PGGM Investments raised its holdings in Sun Communities by 159.9% during the 2nd quarter. PGGM Investments now owns 1,246,739 shares of the real estate investment trust’s stock worth $150,033,000 after buying an additional 767,126 shares during the period. Finally, Daiwa Securities Group Inc. increased its holdings in shares of 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 purchasing an additional 424,842 shares during the period. Hedge funds and other institutional investors own 99.59% of the company’s stock.

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.