Analysts Set Sun Communities, Inc. (NYSE:SUI) Price Target at $135.69

Shares of Sun Communities, Inc. (NYSE:SUI) have been given a consensus rating of “Hold” by the fourteen brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $135.69.

Several research firms have issued reports on SUI. Robert W. Baird cut Sun Communities from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $145.00 to $126.00 in a report 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 on the stock in a research report on Thursday, January 2nd. Wells Fargo & Company decreased their price target on Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. UBS Group downgraded Sun Communities from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $155.00 to $134.00 in a report on Thursday, November 14th. Finally, Royal Bank of Canada decreased their target price on shares of Sun Communities from $147.00 to $135.00 and set an “outperform” rating for the company in a report on Thursday, November 7th.

Sun Communities Trading Down 0.4 %

Shares of SUI stock opened at $120.78 on Monday. The stock has a 50-day simple moving average of $124.59 and a 200 day simple moving average of $129.15. The stock has a market capitalization of $15.39 billion, a P/E ratio of 64.94, a P/E/G ratio of 0.51 and a beta of 0.89. Sun Communities has a fifty-two week low of $110.98 and a fifty-two week high of $147.83. 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 posted its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share 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 business had revenue of $939.90 million for the quarter, compared to the consensus estimate of $980.41 million. During the same quarter last year, the business posted $2.57 EPS. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. On average, sell-side analysts expect that Sun Communities will post 6.78 earnings per share for the current fiscal 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 paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date was Tuesday, December 31st. Sun Communities’s dividend payout ratio (DPR) is currently 202.15%.

Institutional Trading of Sun Communities

Several hedge funds and other institutional investors have recently modified their holdings of SUI. FMR LLC increased its position in Sun Communities by 37.6% in the 3rd quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust’s stock worth $707,329,000 after purchasing an additional 1,430,630 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Sun Communities by 1,061.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,323,479 shares of the real estate investment trust’s stock worth $178,868,000 after buying an additional 1,209,522 shares during the last quarter. Westfield Capital Management Co. LP lifted its stake in Sun Communities by 58.8% in the third quarter. Westfield Capital Management Co. LP now owns 959,879 shares of the real estate investment trust’s stock valued at $129,728,000 after acquiring an additional 355,427 shares during the last quarter. Adelante Capital Management LLC grew its position in Sun Communities by 168.7% in the third quarter. Adelante Capital Management LLC now owns 559,129 shares of the real estate investment trust’s stock worth $75,566,000 after acquiring an additional 351,017 shares in the last quarter. Finally, Hsbc Holdings PLC increased its stake in shares of Sun Communities by 199.1% during the 2nd quarter. Hsbc Holdings PLC now owns 358,284 shares of the real estate investment trust’s stock worth $42,754,000 after purchasing an additional 238,498 shares during the last quarter. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

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.