Brokerages Set Sun Communities, Inc. (NYSE:SUI) Target Price at $137.64

Shares of Sun Communities, Inc. (NYSE:SUI) have earned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $137.64.

Several research firms recently weighed in on SUI. Robert W. Baird increased their target price on shares of Sun Communities from $144.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, September 3rd. StockNews.com cut shares of Sun Communities from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Truist Financial increased their target price on shares of Sun Communities from $127.00 to $138.00 and gave the company a “hold” rating in a research note on Tuesday, August 13th. Royal Bank of Canada raised their price target on shares of Sun Communities from $131.00 to $137.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Finally, Evercore ISI raised their price target on shares of Sun Communities from $143.00 to $144.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th.

Sun Communities Stock Up 2.1 %

NYSE SUI opened at $147.58 on Tuesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a 50-day simple moving average of $130.69 and a 200 day simple moving average of $124.85. Sun Communities has a twelve month low of $102.74 and a twelve month high of $147.83. The stock has a market cap of $18.39 billion, a PE ratio of 127.22, a PEG ratio of 1.04 and a beta of 0.91.

Sun Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.94 dividend. The ex-dividend date is Monday, September 30th. This represents a $3.76 annualized dividend and a yield of 2.55%. Sun Communities’s payout ratio is 324.14%.

Insider Buying and Selling at Sun Communities

In other Sun Communities news, CEO Baxter Underwood sold 3,000 shares of Sun Communities stock in a transaction on Monday, August 5th. The stock was sold at an average price of $131.43, for a total value of $394,290.00. Following the completion of the transaction, the chief executive officer now owns 63,462 shares in the company, valued at approximately $8,340,810.66. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.89% of the company’s stock.

Hedge Funds Weigh In On Sun Communities

Several institutional investors have recently bought and sold shares of the business. Bristlecone Advisors LLC raised its position in Sun Communities by 2.4% in the 2nd quarter. Bristlecone Advisors LLC now owns 3,655 shares of the real estate investment trust’s stock valued at $440,000 after purchasing an additional 85 shares during the last quarter. Toronto Dominion Bank raised its position in Sun Communities by 0.8% in the 2nd quarter. Toronto Dominion Bank now owns 11,916 shares of the real estate investment trust’s stock valued at $1,434,000 after purchasing an additional 98 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of Sun Communities by 0.3% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 29,808 shares of the real estate investment trust’s stock worth $3,833,000 after acquiring an additional 100 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Sun Communities by 15.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 762 shares of the real estate investment trust’s stock worth $92,000 after acquiring an additional 102 shares during the last quarter. Finally, US Bancorp DE raised its position in shares of Sun Communities by 0.5% during the fourth quarter. US Bancorp DE now owns 20,541 shares of the real estate investment trust’s stock worth $2,745,000 after acquiring an additional 107 shares during the last quarter. Institutional investors own 99.59% of the company’s stock.

About Sun Communities

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.