Sun Communities, Inc. (NYSE:SUI) Given Consensus Recommendation of “Hold” by Analysts

Shares of Sun Communities, Inc. (NYSE:SUI) have been given a consensus rating of “Hold” by the twelve brokerages that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $134.55.

A number of equities research analysts have weighed in on SUI shares. Wells Fargo & Company decreased their price target on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th. Royal Bank of Canada decreased their price target on shares of Sun Communities from $147.00 to $135.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. UBS Group downgraded shares of Sun Communities from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $155.00 to $134.00 in a research note on Thursday, November 14th. Bank of America downgraded shares of Sun Communities from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $147.00 to $114.00 in a research note on Tuesday, November 12th. Finally, Truist Financial upgraded shares of Sun Communities from a “hold” rating to a “buy” rating in a research note on Friday, January 17th.

Institutional Investors Weigh In On Sun Communities

Hedge funds have recently added to or reduced their stakes in the stock. Assetmark Inc. grew its holdings in 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 during the last quarter. Brooklyn Investment Group bought a new stake in Sun Communities during the 3rd quarter worth about $41,000. Aster Capital Management DIFC Ltd grew its holdings in Sun Communities by 263.6% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 232 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in Sun Communities by 45.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 124 shares during the last quarter. Finally, CKW Financial Group grew its holdings in Sun Communities by 45.0% during the 4th quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock worth $53,000 after acquiring an additional 135 shares during the last quarter. Institutional investors own 99.59% of the company’s stock.

Sun Communities Stock Up 1.2 %

SUI opened at $126.55 on Friday. Sun Communities has a fifty-two week low of $110.98 and a fifty-two week high of $147.83. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. The firm’s fifty day moving average price is $124.26 and its two-hundred day moving average price is $129.66. The company has a market capitalization of $16.12 billion, a P/E ratio of 68.04 and a beta of 0.90.

Sun Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend was Tuesday, December 31st. Sun Communities’s dividend payout ratio is currently 202.15%.

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.