Analysts Set Sun Communities, Inc. (NYSE:SUI) PT at $143.91

Sun Communities, Inc. (NYSE:SUI) has received a consensus recommendation of “Moderate Buy” from the twelve brokerages that are covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $143.91.

SUI has been the subject of several research analyst reports. Jefferies Financial Group initiated coverage on Sun Communities in a report on Thursday, October 17th. They issued a “buy” rating and a $160.00 price objective for the company. Wells Fargo & Company boosted their target price on Sun Communities from $123.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 19th. StockNews.com lowered Sun Communities from a “hold” rating to a “sell” rating in a research report on Friday, October 18th. Evercore ISI boosted their target price on Sun Communities from $149.00 to $150.00 and gave the stock an “in-line” rating in a research report on Monday, October 21st. Finally, UBS Group raised Sun Communities to a “strong-buy” rating in a research report on Thursday, October 10th.

Insiders Place Their Bets

In other Sun Communities news, CEO Baxter Underwood sold 3,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $131.43, for a total value of $394,290.00. Following the transaction, the chief executive officer now directly owns 63,462 shares of the company’s stock, valued at $8,340,810.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.89% of the company’s stock.

Institutional Trading of Sun Communities

Several large investors have recently made changes to their positions in the stock. Assetmark Inc. boosted its stake in shares of 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 in the last quarter. Harvest Portfolios Group Inc. boosted its stake in shares of Sun Communities by 16.5% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 32,806 shares of the real estate investment trust’s stock worth $4,434,000 after acquiring an additional 4,639 shares in the last quarter. Global Wealth Management Investment Advisory Inc. boosted its stake in shares of Sun Communities by 12.3% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 4,189 shares of the real estate investment trust’s stock worth $566,000 after acquiring an additional 458 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Sun Communities by 10.8% during the 3rd quarter. Van ECK Associates Corp now owns 56,904 shares of the real estate investment trust’s stock worth $7,913,000 after acquiring an additional 5,547 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in Sun Communities by 89.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock valued at $68,000 after purchasing an additional 236 shares during the period. Institutional investors own 99.59% of the company’s stock.

Sun Communities Trading Down 1.8 %

Shares of Sun Communities stock opened at $130.31 on Wednesday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.09. The firm has a market cap of $16.25 billion, a price-to-earnings ratio of 151.53, a price-to-earnings-growth ratio of 0.97 and a beta of 0.91. The business has a fifty day simple moving average of $135.78 and a 200-day simple moving average of $126.43. Sun Communities has a fifty-two week low of $110.98 and a fifty-two week high of $147.83.

Sun Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 2.89%. The ex-dividend date was Monday, September 30th. Sun Communities’s payout ratio is 437.21%.

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.