Sun Communities (NYSE:SUI) Stock Rating Upgraded by UBS Group

UBS Group upgraded shares of Sun Communities (NYSE:SUI) to a strong-buy rating in a research note published on Thursday, Zacks.com reports.

Several other brokerages have also weighed in on SUI. StockNews.com raised shares of Sun Communities from a sell rating to a hold rating in a research note on Thursday. Wells Fargo & Company increased their target price on shares of Sun Communities from $123.00 to $154.00 and gave the stock an equal weight rating in a research note on Thursday, September 19th. Evercore ISI cut shares of Sun Communities from an outperform rating to an inline rating and increased their price target for the stock from $144.00 to $149.00 in a research report on Monday, September 16th. Robert W. Baird increased their price target on shares of Sun Communities from $144.00 to $145.00 and gave the stock an outperform rating in a research report on Tuesday, September 3rd. Finally, Truist Financial raised their target price on shares of Sun Communities from $127.00 to $138.00 and gave the company a hold rating in a report on Tuesday, August 13th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $142.20.

Sun Communities Price Performance

Shares of NYSE SUI opened at $129.80 on Thursday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.09. Sun Communities has a 52 week low of $102.74 and a 52 week high of $147.83. The firm has a 50-day simple moving average of $134.84 and a 200-day simple moving average of $125.42. The stock has a market capitalization of $16.18 billion, a price-to-earnings ratio of 111.90, a price-to-earnings-growth ratio of 0.94 and a beta of 0.91.

Sun Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Monday, September 30th. Sun Communities’s payout ratio is 324.14%.

Insider Buying and Selling at Sun Communities

In related news, CEO Baxter Underwood sold 3,000 shares of Sun Communities stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $131.43, for a total transaction of $394,290.00. Following the sale, the chief executive officer now directly owns 63,462 shares in the company, valued at $8,340,810.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.89% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sun Communities

A number of institutional investors have recently bought and sold shares of the stock. Creative Planning increased its stake in Sun Communities by 56.8% in the 3rd quarter. Creative Planning now owns 9,491 shares of the real estate investment trust’s stock worth $1,283,000 after purchasing an additional 3,439 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in Sun Communities by 438.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,292 shares of the real estate investment trust’s stock worth $175,000 after purchasing an additional 1,052 shares in the last quarter. Inspire Investing LLC grew its stake in Sun Communities by 9.0% during the 3rd quarter. Inspire Investing LLC now owns 14,624 shares of the real estate investment trust’s stock valued at $1,976,000 after acquiring an additional 1,208 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its stake in Sun Communities by 600.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 700 shares of the real estate investment trust’s stock valued at $95,000 after acquiring an additional 600 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Sun Communities by 30.2% during the 3rd quarter. GAMMA Investing LLC now owns 827 shares of the real estate investment trust’s stock valued at $112,000 after acquiring an additional 192 shares in the last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Sun Communities Company Profile

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.