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

Sun Communities, Inc. (NYSE:SUI) has received a consensus recommendation of “Hold” from the twelve brokerages that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $134.55.

SUI has been the subject of a number of recent research reports. Evercore ISI boosted their price objective on shares of Sun Communities from $149.00 to $150.00 and gave the company an “in-line” rating in a report on Monday, October 21st. Robert W. Baird cut Sun Communities from an “outperform” rating to a “neutral” rating and cut their price target for the company from $145.00 to $126.00 in a research note on Thursday, November 7th. BMO Capital Markets lowered their price objective on Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Jefferies Financial Group cut their target price on Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Finally, Truist Financial upgraded shares of Sun Communities from a “hold” rating to a “buy” rating in a research note on Friday, January 17th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SUI. Assetmark Inc. grew its position in Sun Communities by 2,111.1% during the 3rd quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 190 shares during the last quarter. Brooklyn Investment Group acquired a new stake in shares of Sun Communities during the third quarter valued at about $41,000. Smartleaf Asset Management LLC grew its holdings in shares of Sun Communities by 45.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 124 shares during the last quarter. CKW Financial Group increased its stake in shares of Sun Communities by 45.0% in the fourth quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 135 shares during the period. Finally, Point72 Hong Kong Ltd bought a new position in Sun Communities in the 3rd quarter valued at approximately $60,000. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Sun Communities Stock Down 0.8 %

Sun Communities stock opened at $125.30 on Friday. Sun Communities has a twelve month low of $110.98 and a twelve month high of $147.83. The stock has a market cap of $15.96 billion, a P/E ratio of 67.37 and a beta of 0.90. The company’s 50-day moving average price is $124.44 and its two-hundred day moving average price is $129.60. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93.

Sun Communities (NYSE:SUI) last released its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.20). Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The firm had revenue of $939.90 million during the quarter, compared to the consensus estimate of $980.41 million. During the same quarter last year, the firm earned $2.57 earnings per share. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, analysts expect that Sun Communities will post 6.77 EPS for the current year.

Sun Communities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.94 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $3.76 dividend on an annualized basis and a yield of 3.00%. 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.