Sun Communities Inc (NYSE:SUI) has earned a consensus recommendation of “Hold” from the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $107.60.
Several research analysts have issued reports on the stock. Citigroup set a $110.00 price target on shares of Sun Communities and gave the stock a “hold” rating in a report on Wednesday, December 12th. Zacks Investment Research lowered shares of Sun Communities from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st.
In other news, COO John Bandini Mclaren sold 2,400 shares of Sun Communities stock in a transaction on Friday, November 30th. The shares were sold at an average price of $103.42, for a total value of $248,208.00. Following the completion of the sale, the chief operating officer now owns 152,624 shares in the company, valued at approximately $15,784,374.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.69% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Quadrant Capital Group LLC grew its position in Sun Communities by 20.9% in the 4th quarter. Quadrant Capital Group LLC now owns 838 shares of the real estate investment trust’s stock valued at $81,000 after purchasing an additional 145 shares during the period. IFP Advisors Inc grew its position in Sun Communities by 13.5% in the 4th quarter. IFP Advisors Inc now owns 3,208 shares of the real estate investment trust’s stock valued at $323,000 after purchasing an additional 382 shares during the period. Nisa Investment Advisors LLC grew its position in Sun Communities by 5.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 8,300 shares of the real estate investment trust’s stock valued at $844,000 after purchasing an additional 400 shares during the period. Global Endowment Management LP grew its position in Sun Communities by 3.3% in the 3rd quarter. Global Endowment Management LP now owns 15,880 shares of the real estate investment trust’s stock valued at $1,612,000 after purchasing an additional 500 shares during the period. Finally, United Services Automobile Association grew its position in Sun Communities by 4.2% in the 2nd quarter. United Services Automobile Association now owns 12,741 shares of the real estate investment trust’s stock valued at $1,247,000 after purchasing an additional 516 shares during the period. 93.41% of the stock is owned by institutional investors and hedge funds.
Sun Communities stock opened at $111.59 on Wednesday. Sun Communities has a 52-week low of $80.12 and a 52-week high of $111.70. The company has a market cap of $9.59 billion, a price-to-earnings ratio of 26.76, a PEG ratio of 3.53 and a beta of 0.28.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st were paid a $0.71 dividend. The ex-dividend date of this dividend was Friday, December 28th. This represents a $2.84 annualized dividend and a dividend yield of 2.55%. Sun Communities’s dividend payout ratio is currently 68.11%.
About Sun Communities
Sun Communities, Inc is a REIT that, as of September 30, 2018, owned, operated, or had an interest in a portfolio of 370 communities comprising over 127,000 developed sites in 31 states and Ontario, Canada.
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