Sun Communities, Inc. (NYSE:SUI) Given Average Rating of “Hold” by Brokerages

Shares of Sun Communities, Inc. (NYSE:SUI) have received a consensus recommendation of “Hold” from the fourteen research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $137.08.

A number of research analysts recently commented on the company. StockNews.com cut Sun Communities from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Bank of America lowered shares of Sun Communities from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $147.00 to $114.00 in a report on Tuesday, November 12th. Baird R W downgraded shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Royal Bank of Canada decreased their price objective on shares of Sun Communities from $147.00 to $135.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Finally, Wells Fargo & Company cut their target price on Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 11th.

Hedge Funds Weigh In On Sun Communities

A number of hedge funds have recently bought and sold shares of SUI. Assetmark Inc. lifted its stake in Sun Communities by 2,111.1% in the third quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 190 shares during the period. Brooklyn Investment Group acquired a new position in shares of Sun Communities during the third quarter valued at about $41,000. Quest Partners LLC boosted its position in shares of Sun Communities by 12,700.0% during the 2nd quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 381 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Sun Communities in the 3rd quarter valued at about $60,000. Finally, Farther Finance Advisors LLC increased its position in Sun Communities by 89.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock valued at $68,000 after buying an additional 236 shares in the last quarter. Institutional investors own 99.59% of the company’s stock.

Sun Communities Trading Up 0.2 %

NYSE SUI opened at $123.87 on Thursday. Sun Communities has a 12 month low of $110.98 and a 12 month high of $147.83. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. The stock has a 50 day moving average of $128.25 and a 200-day moving average of $128.43. The company has a market cap of $15.78 billion, a PE ratio of 66.60, a PEG ratio of 0.51 and a beta of 0.88.

Sun Communities (NYSE:SUI) last announced its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). The firm had revenue of $939.90 million during the quarter, compared to analyst estimates of $980.41 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The business’s revenue was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.57 EPS. On average, equities research analysts anticipate that Sun Communities will post 6.78 EPS for the current fiscal year.

Sun Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Tuesday, December 31st. Sun Communities’s dividend payout ratio is currently 202.15%.

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.