Sun Communities, Inc. (NYSE:SUI) Receives $137.08 Consensus Price Target from Analysts

Shares of Sun Communities, Inc. (NYSE:SUI) have been given a consensus rating of “Hold” by the fourteen research firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $137.08.

Several brokerages have recently weighed in on SUI. Baird R W lowered shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Evercore ISI upped their price target on Sun Communities from $149.00 to $150.00 and gave the stock an “in-line” rating in a research note on Monday, October 21st. BMO Capital Markets cut their price target on Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Royal Bank of Canada decreased their price objective on Sun Communities from $147.00 to $135.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Finally, StockNews.com cut Sun Communities from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th.

Sun Communities Trading Up 1.2 %

Shares of SUI stock opened at $125.32 on Thursday. 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 quick ratio of 1.61 and a current ratio of 1.61. The stock has a 50 day simple moving average of $127.96 and a two-hundred day simple moving average of $128.53. The company has a market cap of $15.96 billion, a P/E ratio of 67.38, a PEG ratio of 0.51 and a beta of 0.89.

Sun Communities (NYSE:SUI) last announced its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $2.31 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.20). Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The company had revenue of $939.90 million for the quarter, compared to analyst estimates of $980.41 million. During the same period last year, the business earned $2.57 EPS. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. Research analysts forecast that Sun Communities will post 6.78 earnings per share for the current year.

Sun Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Tuesday, December 31st. Sun Communities’s payout ratio is 202.15%.

Hedge Funds Weigh In On Sun Communities

Several hedge funds have recently modified their holdings of SUI. Fifth Third Bancorp increased its position in shares of Sun Communities by 2.8% during the second quarter. Fifth Third Bancorp now owns 5,179 shares of the real estate investment trust’s stock valued at $623,000 after acquiring an additional 142 shares during the last quarter. 1620 Investment Advisors Inc. bought a new position in Sun Communities in the 2nd quarter valued at $62,000. &PARTNERS purchased a new stake in shares of Sun Communities during the 2nd quarter valued at $402,000. Van Lanschot Kempen Investment Management N.V. raised its stake in shares of Sun Communities by 2.2% during the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 146,038 shares of the real estate investment trust’s stock worth $17,574,000 after purchasing an additional 3,104 shares during the period. Finally, Ceredex Value Advisors LLC raised its stake in shares of Sun Communities by 10.7% during the 2nd quarter. Ceredex Value Advisors LLC now owns 372,985 shares of the real estate investment trust’s stock worth $45,230,000 after purchasing an additional 36,051 shares during the period. Institutional investors own 99.59% of the company’s stock.

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.