Brokerages Set Sun Communities, Inc. (NYSE:SUI) Price Target at $200.33

Shares of Sun Communities, Inc. (NYSE:SUI) have received a consensus rating of “Buy” from the nine research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $202.57.

SUI has been the subject of a number of research reports. BMO Capital Markets initiated coverage on Sun Communities in a research note on Wednesday, November 17th. They issued a “buy” rating and a $224.00 target price for the company. Royal Bank of Canada raised their target price on Sun Communities from $216.00 to $227.00 and gave the company an “outperform” rating in a research note on Wednesday, November 17th. Zacks Investment Research upgraded Sun Communities from a “hold” rating to a “buy” rating and set a $216.00 target price for the company in a research note on Wednesday. Finally, Barclays initiated coverage on Sun Communities in a research note on Wednesday, September 1st. They issued an “overweight” rating and a $232.00 target price for the company.

Several institutional investors have recently bought and sold shares of the company. State Street Corp grew its holdings in shares of Sun Communities by 6.6% during the 2nd quarter. State Street Corp now owns 4,522,161 shares of the real estate investment trust’s stock worth $778,795,000 after acquiring an additional 278,517 shares during the period. Principal Financial Group Inc. increased its holdings in Sun Communities by 2.0% in the second quarter. Principal Financial Group Inc. now owns 4,243,899 shares of the real estate investment trust’s stock valued at $727,404,000 after buying an additional 84,176 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Sun Communities by 1.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,221,808 shares of the real estate investment trust’s stock valued at $723,620,000 after purchasing an additional 76,907 shares during the last quarter. PGGM Investments increased its position in shares of Sun Communities by 74.1% in the 2nd quarter. PGGM Investments now owns 2,090,038 shares of the real estate investment trust’s stock valued at $358,233,000 after purchasing an additional 889,899 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Sun Communities by 0.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,763,826 shares of the real estate investment trust’s stock worth $326,484,000 after purchasing an additional 10,345 shares during the period. 94.04% of the stock is owned by hedge funds and other institutional investors.

Sun Communities stock traded up $3.75 during trading hours on Friday, reaching $200.09. 535,692 shares of the company were exchanged, compared to its average volume of 575,445. The firm has a market cap of $23.20 billion, a price-to-earnings ratio of 61.00, a PEG ratio of 2.51 and a beta of 0.59. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.66. The stock has a 50-day moving average of $194.04 and a 200 day moving average of $187.30. Sun Communities has a 12 month low of $137.43 and a 12 month high of $209.98.

Sun Communities (NYSE:SUI) last issued its earnings results on Sunday, October 24th. The real estate investment trust reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.99. Sun Communities had a return on equity of 5.76% and a net margin of 17.73%. During the same period last year, the business earned $1.60 earnings per share. As a group, research analysts forecast that Sun Communities will post 6.47 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, October 15th. Shareholders of record on Thursday, September 30th were issued a $0.83 dividend. The ex-dividend date of this dividend was Wednesday, September 29th. This represents a $3.32 dividend on an annualized basis and a yield of 1.66%. Sun Communities’s payout ratio is presently 101.22%.

Sun Communities Company Profile

Sun Communities, Inc provides real estate management services. The firm operates through the following segments: Real Property Operations and Home Sales and Rentals. The Real Property Operations segment owns, operates, and develops manufacture housing communities and recreational vehicle communities throughout the United States and is in the business of acquiring, operating, and expanding manufactured housing and recreational vehicle communities.

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Analyst Recommendations for Sun Communities (NYSE:SUI)

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