Sun Communities Inc (NYSE:SUI) has been assigned an average rating of “Hold” from the eight brokerages that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $107.60.
Several analysts have recently issued reports on SUI shares. Citigroup set a $110.00 price target on Sun Communities and gave the stock a “hold” rating in a research note on Wednesday, December 12th. Zacks Investment Research downgraded Sun Communities from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Finally, Robert W. Baird increased their target price on Sun Communities from $102.00 to $106.00 and gave the company an “outperform” rating in a research note on Monday, September 17th.
In related news, COO John Bandini Mclaren sold 2,400 shares of the stock in a transaction that occurred on Friday, November 30th. The stock was sold at an average price of $103.42, for a total transaction 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.69% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc lifted its position in shares of Sun Communities by 5.4% in the 3rd quarter. Vanguard Group Inc now owns 11,641,879 shares of the real estate investment trust’s stock worth $1,182,116,000 after acquiring an additional 600,622 shares during the period. BlackRock Inc. lifted its position in shares of Sun Communities by 7.4% in the 3rd quarter. BlackRock Inc. now owns 6,394,048 shares of the real estate investment trust’s stock worth $649,251,000 after acquiring an additional 439,465 shares during the period. Alliancebernstein L.P. lifted its position in shares of Sun Communities by 4.5% in the 3rd quarter. Alliancebernstein L.P. now owns 3,109,806 shares of the real estate investment trust’s stock worth $315,770,000 after acquiring an additional 134,996 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Sun Communities by 6.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,779,407 shares of the real estate investment trust’s stock worth $180,682,000 after acquiring an additional 105,679 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of Sun Communities by 37.0% in the 3rd quarter. Renaissance Technologies LLC now owns 1,300,000 shares of the real estate investment trust’s stock worth $132,002,000 after buying an additional 351,300 shares in the last quarter. Institutional investors own 93.31% of the company’s stock.
SUI opened at $103.47 on Friday. The stock has a market cap of $8.69 billion, a PE ratio of 24.81, a P/E/G ratio of 3.19 and a beta of 0.16. Sun Communities has a 52-week low of $80.12 and a 52-week high of $108.91.
Sun Communities (NYSE:SUI) last released its quarterly earnings results on Wednesday, October 24th. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.07. The company had revenue of $323.54 million during the quarter, compared to the consensus estimate of $292.22 million. Sun Communities had a return on equity of 3.95% and a net margin of 10.16%. On average, research analysts expect that Sun Communities will post 4.59 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 31st will be paid a dividend of $0.71 per share. The ex-dividend date is Friday, December 28th. This represents a $2.84 annualized dividend and a yield of 2.74%. Sun Communities’s payout ratio is 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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