Sun Communities, Inc. (NYSE:SUI) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Sun Communities, Inc. (NYSE:SUI) have earned an average recommendation of “Hold” from the fourteen analysts that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $137.08.

A number of brokerages recently commented on SUI. Evercore ISI lifted their price target on Sun Communities from $149.00 to $150.00 and gave the stock an “in-line” rating in a report on Monday, October 21st. Royal Bank of Canada lowered their target price on Sun Communities from $147.00 to $135.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Truist Financial decreased their price objective on shares of Sun Communities from $138.00 to $131.00 and set a “hold” rating for the company in a report on Wednesday, December 11th. UBS Group cut shares of Sun Communities from a “buy” rating to a “neutral” rating and dropped their target price for the company from $155.00 to $134.00 in a research note on Thursday, November 14th. Finally, Wells Fargo & Company decreased their price target on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 11th.

Sun Communities Stock Performance

Shares of SUI stock opened at $120.41 on Thursday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. The firm has a 50-day moving average of $128.55 and a 200-day moving average of $128.30. Sun Communities has a one year low of $110.98 and a one year high of $147.83. The company has a market cap of $15.34 billion, a P/E ratio of 64.74, a P/E/G ratio of 0.51 and a beta of 0.88.

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

Sun Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Tuesday, December 31st. Sun Communities’s dividend payout ratio (DPR) is presently 202.15%.

Institutional Trading of Sun Communities

Institutional investors have recently added to or reduced their stakes in the stock. Assetmark Inc. increased its position in shares of Sun Communities by 2,111.1% during the third quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 190 shares during the period. Brooklyn Investment Group purchased a new position in Sun Communities during the third quarter valued at approximately $41,000. Quest Partners LLC increased its holdings in Sun Communities by 12,700.0% during the 2nd quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 381 shares during the period. Point72 Hong Kong Ltd purchased a new stake in Sun Communities in the 3rd quarter worth approximately $60,000. Finally, 1620 Investment Advisors Inc. bought a new position in Sun Communities in the 2nd quarter valued at $62,000. Hedge funds and other 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.