Sun Communities, Inc. (NYSE:SUI) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Sun Communities, Inc. (NYSE:SUI) has been assigned a consensus recommendation of “Moderate Buy” from the nine brokerages that are covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $142.20.

Several analysts have commented on the company. Royal Bank of Canada upped their price objective on Sun Communities from $131.00 to $137.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Evercore ISI cut Sun Communities from an “outperform” rating to an “inline” rating and upped their price target for the stock from $144.00 to $149.00 in a research note on Monday, September 16th. Robert W. Baird increased their price target on Sun Communities from $144.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, September 3rd. StockNews.com cut shares of Sun Communities from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Finally, Truist Financial upped their price objective on shares of Sun Communities from $127.00 to $138.00 and gave the stock a “hold” rating in a research report on Tuesday, August 13th.

Insider Activity

In other news, CEO Baxter Underwood sold 3,000 shares of Sun Communities stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 63,462 shares in the company, valued at approximately $8,340,810.66. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.89% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Farmers & Merchants Investments Inc. purchased a new position in shares of Sun Communities during the 1st quarter worth approximately $26,000. V Square Quantitative Management LLC acquired a new stake in Sun Communities during the 4th quarter valued at $32,000. Quest Partners LLC increased its position in 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 worth $46,000 after buying an additional 381 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new position in shares of Sun Communities in the second quarter worth $62,000. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of Sun Communities in the first quarter valued at $83,000. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Sun Communities Price Performance

Shares of NYSE:SUI opened at $129.77 on Friday. Sun Communities has a one year low of $102.74 and a one year high of $147.83. The stock has a market capitalization of $16.17 billion, a price-to-earnings ratio of 111.87, a PEG ratio of 0.99 and a beta of 0.91. The company has a 50-day simple moving average of $135.05 and a 200-day simple moving average of $125.49. 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.94 per share. The ex-dividend date 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 presently 324.14%.

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.