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

Sun Communities, Inc. (NYSE:SUI) has received a consensus rating of “Hold” from the eleven ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $135.70.

SUI has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Sun Communities in a research report on Friday, February 28th. Jefferies Financial Group initiated coverage on shares of Sun Communities in a research note on Tuesday, April 8th. They issued a “buy” rating and a $150.00 price target on the stock. JMP Securities restated a “market outperform” rating and set a $140.00 price objective (down previously from $150.00) on shares of Sun Communities in a report on Monday. Finally, Truist Financial dropped their price target on Sun Communities from $142.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, April 10th.

Sun Communities Trading Up 0.1 %

Sun Communities stock opened at $121.24 on Wednesday. The company has a market cap of $15.47 billion, a price-to-earnings ratio of 65.18 and a beta of 0.84. Sun Communities has a one year low of $109.22 and a one year high of $147.83. The firm has a 50-day moving average of $127.41 and a 200-day moving average of $126.99. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61.

Sun Communities (NYSE:SUI) last posted its quarterly earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.02. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The firm had revenue of $745.90 million for the quarter, compared to analyst estimates of $724.68 million. On average, equities analysts expect that Sun Communities will post 6.77 earnings per share for the current fiscal year.

Sun Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 3.10%. The ex-dividend date was Monday, March 31st. Sun Communities’s dividend payout ratio (DPR) is currently 508.11%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cohen & Steers Inc. increased its holdings in Sun Communities by 30.3% in the 4th quarter. Cohen & Steers Inc. now owns 16,373,446 shares of the real estate investment trust’s stock valued at $2,013,414,000 after buying an additional 3,811,528 shares during the period. Dodge & Cox boosted its position in shares of Sun Communities by 61.1% during the 4th quarter. Dodge & Cox now owns 9,606,018 shares of the real estate investment trust’s stock worth $1,181,252,000 after acquiring an additional 3,644,853 shares in the last quarter. FMR LLC increased its stake in Sun Communities by 51.3% in the fourth quarter. FMR LLC now owns 7,917,870 shares of the real estate investment trust’s stock valued at $973,660,000 after acquiring an additional 2,684,214 shares during the last quarter. Norges Bank acquired a new position in Sun Communities during the fourth quarter valued at approximately $888,783,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in Sun Communities by 19.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,549,540 shares of the real estate investment trust’s stock worth $682,429,000 after purchasing an additional 911,857 shares during the last quarter. Institutional investors and hedge funds 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.