Sun Communities, Inc. (NYSE:SUI) Receives $135.69 Consensus Target Price from Analysts

Shares of Sun Communities, Inc. (NYSE:SUI) have been assigned an average recommendation of “Hold” from the fourteen ratings firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $135.69.

A number of research firms recently issued reports on SUI. Bank of America lowered shares of Sun Communities from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $147.00 to $114.00 in a research note on Tuesday, November 12th. UBS Group cut Sun Communities from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $155.00 to $134.00 in a research report on Thursday, November 14th. Evercore ISI raised their target price on Sun Communities from $149.00 to $150.00 and gave the company an “in-line” rating in a report on Monday, October 21st. BMO Capital Markets dropped their price target on Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Finally, Robert W. Baird downgraded shares of Sun Communities from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $145.00 to $126.00 in a research note on Thursday, November 7th.

Sun Communities Stock Performance

Shares of NYSE SUI opened at $120.78 on Monday. The business’s 50-day simple moving average is $124.59 and its 200-day simple moving average is $129.15. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. Sun Communities has a 52 week low of $110.98 and a 52 week high of $147.83. The firm has a market cap of $15.39 billion, a price-to-earnings ratio of 64.94, a P/E/G ratio of 0.51 and a beta of 0.89.

Sun Communities (NYSE:SUI) last announced 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). Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The company had revenue of $939.90 million for the quarter, compared to the consensus estimate of $980.41 million. During the same period in the previous year, the company earned $2.57 EPS. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, equities research analysts expect that Sun Communities will post 6.78 earnings per share for the current fiscal year.

Sun Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.94 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.76 dividend on an annualized basis and a yield of 3.11%. Sun Communities’s payout ratio is currently 202.15%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Assetmark Inc. raised its holdings in shares of Sun Communities by 2,111.1% in the 3rd quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 190 shares in the last quarter. Brooklyn Investment Group acquired a new position in Sun Communities during the third quarter worth $41,000. Quest Partners LLC lifted its holdings in shares of Sun Communities by 12,700.0% during the second quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 381 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Sun Communities in the 3rd quarter valued at $60,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of Sun Communities by 89.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock valued at $68,000 after purchasing an additional 236 shares in 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.