Sun Communities (NYSE:SUI) has earned an average recommendation of “Buy” from the eight analysts that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $94.80.
Several brokerages have recently weighed in on SUI. Zacks Investment Research downgraded Sun Communities from a “buy” rating to a “hold” rating and set a $102.00 price target for the company. in a report on Thursday, April 12th. Robert W. Baird raised Sun Communities from a “neutral” rating to an “outperform” rating in a research report on Wednesday, February 7th. ValuEngine raised Sun Communities from a “hold” rating to a “buy” rating in a research report on Thursday, March 15th. Finally, BMO Capital Markets set a $97.00 price objective on Sun Communities and gave the company a “buy” rating in a research report on Wednesday, February 21st.
Shares of NYSE:SUI traded up $0.81 on Thursday, hitting $92.41. 184,331 shares of the company traded hands, compared to its average volume of 423,164. Sun Communities has a 52 week low of $80.12 and a 52 week high of $96.08. The company has a market capitalization of $7,295.82, a PE ratio of 22.09, a PEG ratio of 3.19 and a beta of 0.11.
Sun Communities (NYSE:SUI) last issued its quarterly earnings results on Wednesday, February 21st. The real estate investment trust reported $0.98 earnings per share for the quarter, meeting the consensus estimate of $0.98. Sun Communities had a return on equity of 2.98% and a net margin of 8.01%. The firm had revenue of $242.00 million during the quarter, compared to the consensus estimate of $207.51 million. During the same period last year, the company earned $0.91 earnings per share. The company’s revenue was up 10.7% on a year-over-year basis. analysts expect that Sun Communities will post 4.54 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 16th. Investors of record on Thursday, March 29th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Wednesday, March 28th. This is a boost from Sun Communities’s previous quarterly dividend of $0.67. This represents a $2.84 annualized dividend and a dividend yield of 3.07%. Sun Communities’s dividend payout ratio (DPR) is 68.11%.
In related news, Director Clunet R. Lewis sold 2,200 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $87.84, for a total transaction of $193,248.00. Following the sale, the director now directly owns 19,400 shares of the company’s stock, valued at $1,704,096. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.69% of the company’s stock.
Large investors have recently made changes to their positions in the business. M&T Bank Corp purchased a new position in Sun Communities in the fourth quarter worth about $209,000. Comerica Bank boosted its position in Sun Communities by 86.3% in the fourth quarter. Comerica Bank now owns 6,735 shares of the real estate investment trust’s stock worth $609,000 after purchasing an additional 3,120 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Sun Communities by 7.4% in the fourth quarter. State of Alaska Department of Revenue now owns 54,220 shares of the real estate investment trust’s stock worth $5,029,000 after purchasing an additional 3,750 shares during the last quarter. Swiss National Bank boosted its position in Sun Communities by 3.1% in the fourth quarter. Swiss National Bank now owns 134,531 shares of the real estate investment trust’s stock worth $12,482,000 after purchasing an additional 4,000 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Sun Communities by 3,848.1% in the fourth quarter. American Century Companies Inc. now owns 609,195 shares of the real estate investment trust’s stock worth $56,521,000 after purchasing an additional 593,765 shares during the last quarter. 94.71% of the stock is currently owned by institutional investors and hedge funds.
Sun Communities Company Profile
Sun Communities, Inc provides real estate management services. The company operates through the following segments: Real Property Operations and Home Sales & Rentals. The Real Property Operations segment owns, operates, and develops manufacture housing communities and recreational vehicle communities throughout the United States and is in the business of acquiring, operating, and expanding manufactured housing and recreational vehicle communities.
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