Brokerages Set Sun Communities, Inc. (NYSE:SUI) Price Target at $136.27

Shares of Sun Communities, Inc. (NYSE:SUI) have earned a consensus rating of “Moderate Buy” from the eleven brokerages that are covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $136.27.

A number of equities analysts recently commented on the stock. Royal Bank of Canada lowered their target price on shares of Sun Communities from $142.00 to $130.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Evercore ISI cut their target price on Sun Communities from $145.00 to $128.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. JMP Securities reaffirmed a “market outperform” rating and issued a $150.00 price target on shares of Sun Communities in a report on Thursday, May 2nd. Truist Financial dropped their price target on shares of Sun Communities from $143.00 to $136.00 and set a “hold” rating on the stock in a research note on Monday, March 18th. Finally, Compass Point boosted their price objective on shares of Sun Communities from $116.00 to $125.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st.

Sun Communities Trading Up 1.0 %

NYSE SUI opened at $120.34 on Thursday. Sun Communities has a 52 week low of $102.74 and a 52 week high of $141.52. The firm has a 50 day moving average of $117.74 and a two-hundred day moving average of $125.20. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $15.00 billion, a PE ratio of 103.74, a price-to-earnings-growth ratio of 1.06 and a beta of 0.87.

Sun Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.76 dividend on an annualized basis and a yield of 3.12%. Sun Communities’s dividend payout ratio is presently 324.14%.

Institutional Investors Weigh In On Sun Communities

Hedge funds have recently made changes to their positions in the business. Cetera Advisors LLC purchased a new stake in Sun Communities during the 1st quarter valued at approximately $515,000. Swedbank AB purchased a new stake in shares of Sun Communities during the first quarter worth approximately $13,660,000. Virtu Financial LLC acquired a new stake in shares of Sun Communities during the first quarter worth $1,106,000. Tidal Investments LLC grew its position in Sun Communities by 9.4% in the 1st quarter. Tidal Investments LLC now owns 8,869 shares of the real estate investment trust’s stock valued at $1,129,000 after buying an additional 763 shares during the last quarter. Finally, California State Teachers Retirement System increased its stake in Sun Communities by 0.5% in the 1st quarter. California State Teachers Retirement System now owns 196,038 shares of the real estate investment trust’s stock valued at $25,207,000 after buying an additional 986 shares during the period. Institutional investors and hedge funds own 99.59% of the company’s stock.

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.