Sun Communities, Inc. (NYSE:SUI) Given Average Recommendation of “Moderate Buy” by Analysts

Sun Communities, Inc. (NYSE:SUI) has received an average recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $143.91.

SUI has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of Sun Communities from $123.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 19th. StockNews.com downgraded shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Friday, October 18th. Evercore ISI raised their price target on shares of Sun Communities from $149.00 to $150.00 and gave the stock an “in-line” rating in a research report on Monday, October 21st. Jefferies Financial Group initiated coverage on shares of Sun Communities in a research report on Thursday, October 17th. They set a “buy” rating and a $160.00 price target for the company. Finally, UBS Group raised shares of Sun Communities to a “strong-buy” rating in a research report on Thursday, October 10th.

Sun Communities Trading Down 1.8 %

SUI opened at $130.31 on Wednesday. The firm has a market capitalization of $16.25 billion, a P/E ratio of 151.53, a P/E/G ratio of 0.97 and a beta of 0.91. The firm’s 50 day moving average is $135.78 and its 200-day moving average is $126.55. Sun Communities has a 52-week low of $110.98 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.

Sun Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.94 dividend. The ex-dividend date was Monday, September 30th. This represents a $3.76 dividend on an annualized basis and a yield of 2.89%. Sun Communities’s dividend payout ratio is currently 437.21%.

Hedge Funds Weigh In On Sun Communities

A number of large investors have recently bought and sold shares of SUI. Price T Rowe Associates Inc. MD lifted its holdings in Sun Communities by 50.3% in the first 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 acquiring an additional 1,105,306 shares during the last quarter. PGGM Investments raised its holdings in shares of Sun Communities by 159.9% during the second quarter. PGGM Investments now owns 1,246,739 shares of the real estate investment trust’s stock valued at $150,033,000 after buying an additional 767,126 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Sun Communities by 24.0% during the second 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 buying an additional 424,842 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of Sun Communities by 199.1% during the second quarter. Hsbc Holdings PLC now owns 358,284 shares of the real estate investment trust’s stock valued at $42,754,000 after buying an additional 238,498 shares during the last quarter. Finally, National Bank of Canada FI raised its holdings in shares of Sun Communities by 499.9% during the first quarter. National Bank of Canada FI now owns 157,977 shares of the real estate investment trust’s stock valued at $18,562,000 after buying an additional 131,641 shares during 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.