Brokerages Set Sun Communities, Inc. (NYSE:SUI) Target Price at $139.92

Shares of Sun Communities, Inc. (NYSE:SUI) have been assigned an average recommendation of “Moderate Buy” from the sixteen analysts that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $139.3167.

A number of research analysts have recently commented on SUI shares. Wells Fargo & Company dropped their price target on Sun Communities from $142.00 to $141.00 and set an “overweight” rating on the stock in a research report on Monday, August 10th. Colliers Securities raised Sun Communities from a “neutral” rating to a “buy” rating and set a $150.00 price objective for the company in a report on Friday, May 22nd. Barclays lowered their price objective on Sun Communities from $147.00 to $146.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 14th. Wall Street Zen lowered shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Finally, Truist Financial cut their target price on shares of Sun Communities from $141.00 to $138.00 and set a “buy” rating for the company in a research report on Friday, June 26th.

Insider Activity at Sun Communities

In related news, Director Gary A. Shiffman sold 25,031 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $119.96, for a total value of $3,002,718.76. Following the completion of the transaction, the director directly owned 857,761 shares of the company’s stock, valued at approximately $102,897,009.56. This trade represents a 2.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Fernando Castro-Caratini sold 23,750 shares of Sun Communities stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $124.43, for a total transaction of $2,955,212.50. Following the completion of the transaction, the executive vice president owned 9,998 shares of the company’s stock, valued at $1,244,051.14. This represents a 70.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.58% of the stock is currently owned by company insiders.

Institutional Trading of Sun Communities

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Fulcrum Asset Management LLP purchased a new stake in Sun Communities during the 3rd quarter worth about $27,000. Wiser Advisor Group LLC purchased a new position in Sun Communities during the 3rd quarter valued at about $46,000. Prosperity Bancshares Inc bought a new stake in shares of Sun Communities during the fourth quarter valued at about $48,000. Oslo Pensjonsforsikring AS bought a new stake in shares of Sun Communities during the first quarter valued at about $49,000. Finally, V Square Quantitative Management LLC purchased a new stake in shares of Sun Communities in the fourth quarter worth about $50,000. 99.59% of the stock is currently owned by institutional investors.

Sun Communities Price Performance

Shares of NYSE SUI opened at $123.28 on Tuesday. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.70. The stock has a fifty day simple moving average of $121.44 and a two-hundred day simple moving average of $126.00. Sun Communities has a 1-year low of $115.90 and a 1-year high of $137.85. The firm has a market cap of $15.02 billion, a price-to-earnings ratio of -17.39, a price-to-earnings-growth ratio of 4.04 and a beta of 0.78.

Sun Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Tuesday, June 30th. Sun Communities’s dividend payout ratio is presently -63.19%.

Sun Communities Company Profile

Sun Communities, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company’s portfolio spans more than 500 manufactured housing communities and over 160 RV resorts, offering affordable, long-term housing as well as short-stay recreational lodging. Through professional on-site management and amenity-rich community designs, Sun Communities serves a diverse customer base that includes retirees, workforce families and vacationers.

Founded in 1975 and headquartered in Southfield, Michigan, Sun Communities has grown organically and through strategic acquisitions to become one of the largest operators in its sector.