Sun Communities, Inc. (NYSE:SUI) Stock Has Consensus Price Target of $139.30 According to Brokerages

Shares of Sun Communities, Inc. (NYSE:SUI) have earned an average recommendation of “Moderate Buy” from the seventeen ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, eight have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $139.30.

A number of equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Odeon Capital Group set a $135.00 price objective on shares of Sun Communities in a research report on Thursday, July 9th. Evercore set a $136.00 price target on Sun Communities in a research note on Monday, September 21st. Mizuho dropped their price objective on shares of Sun Communities from $137.00 to $136.00 and set an “outperform” rating for the company in a research note on Monday, September 21st. Finally, Bank of America raised shares of Sun Communities from an “underperform” rating to a “neutral” rating and set a $140.00 price target for the company in a research report on Thursday, August 27th.

Institutional Trading of Sun Communities

A number of institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised its position in shares of Sun Communities by 13.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 773 shares of the real estate investment trust’s stock valued at $96,000 after purchasing an additional 90 shares in the last quarter. CIBC Asset Management Inc raised its stake in Sun Communities by 2.1% during the fourth quarter. CIBC Asset Management Inc now owns 5,467 shares of the real estate investment trust’s stock valued at $677,000 after buying an additional 112 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its holdings in Sun Communities by 31.1% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 590 shares of the real estate investment trust’s stock worth $73,000 after buying an additional 140 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in Sun Communities by 2.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 6,940 shares of the real estate investment trust’s stock worth $861,000 after buying an additional 140 shares during the last quarter. Finally, V Square Quantitative Management LLC grew its position in shares of Sun Communities by 36.7% in the 1st quarter. V Square Quantitative Management LLC now owns 548 shares of the real estate investment trust’s stock worth $69,000 after acquiring an additional 147 shares in the last quarter. 99.59% of the stock is owned by hedge funds and other institutional investors.

Sun Communities Price Performance

Shares of SUI opened at $110.62 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.52 and a current ratio of 2.52. Sun Communities has a fifty-two week low of $109.77 and a fifty-two week high of $137.85. The firm has a 50-day simple moving average of $118.80 and a 200-day simple moving average of $122.63. The company has a market capitalization of $13.47 billion, a price-to-earnings ratio of -15.60, a price-to-earnings-growth ratio of 4.75 and a beta of 0.76.

Sun Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a $1.12 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $4.48 annualized dividend and a yield of 4.0%. Sun Communities’s dividend payout ratio (DPR) is presently -63.19%.

About Sun Communities

Sun Communities, Inc is a real estate investment trust that owns, operates and develops residential communities and recreational properties. Its portfolio primarily includes manufactured housing communities, recreational vehicle resorts and marinas.

The company provides housing and leisure-oriented accommodations through communities offering manufactured homes, seasonal and long-term RV sites, and related amenities. Its marina operations include wet slips, dry storage and other services for boat owners.

Founded in 1975, Sun Communities serves residents, vacationers and boaters across the United States, with additional operations in the United Kingdom.