Sun Communities (NYSE:SUI) Now Covered by Analysts at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of Sun Communities (NYSE:SUI) in a report released on Thursday, MarketBeat reports. The firm issued a buy rating and a $160.00 target price on the real estate investment trust’s stock.

A number of other research analysts also recently commented on the stock. Wells Fargo & Company increased 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. StockNews.com raised shares of Sun Communities from a “sell” rating to a “hold” rating in a research report on Thursday, October 10th. Truist Financial boosted their price objective on Sun Communities from $127.00 to $138.00 and gave the company a “hold” rating in a report on Tuesday, August 13th. Royal Bank of Canada increased their target price on Sun Communities from $131.00 to $137.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Robert W. Baird boosted their price target on Sun Communities from $144.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.82.

Sun Communities Stock Performance

Shares of SUI opened at $136.19 on Thursday. Sun Communities has a 52-week low of $102.74 and a 52-week high of $147.83. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.09. The firm has a market cap of $16.97 billion, a price-to-earnings ratio of 117.41, a PEG ratio of 0.95 and a beta of 0.91. The business’s 50 day moving average is $135.31 and its two-hundred day moving average is $125.74.

Sun Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.76 dividend on an annualized basis and a yield of 2.76%. Sun Communities’s payout ratio is currently 324.14%.

Insider Buying and Selling at Sun Communities

In other news, CEO Baxter Underwood sold 3,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 63,462 shares in the company, 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 is accessible through the SEC website. 1.89% of the stock is currently owned by company insiders.

Institutional Trading of Sun Communities

Several hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its holdings in shares of Sun Communities by 13.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 258,491 shares of the real estate investment trust’s stock valued at $34,547,000 after buying an additional 30,698 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Sun Communities by 30.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,836 shares of the real estate investment trust’s stock valued at $379,000 after acquiring an additional 661 shares in the last quarter. HighPoint Advisor Group LLC acquired a new position in Sun Communities during the 4th quarter worth $208,000. Mather Group LLC. bought a new position in shares of Sun Communities in the first quarter worth $155,000. Finally, Aurora Investment Managers LLC. increased its holdings in shares of Sun Communities by 82.8% during the first quarter. Aurora Investment Managers LLC. now owns 15,136 shares of the real estate investment trust’s stock valued at $1,946,000 after purchasing an additional 6,856 shares during the period. 99.59% of the stock is currently owned by institutional investors.

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.