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

Sun Communities, Inc. (NYSE:SUI) has earned a consensus rating of “Hold” from the fourteen research firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $137.4615.

Several equities analysts have issued reports on the stock. Wall Street Zen raised shares of Sun Communities from a “sell” rating to a “hold” rating in a report on Sunday, November 9th. Barclays restated an “overweight” rating and set a $144.00 price target on shares of Sun Communities in a research report on Tuesday, January 13th. Deutsche Bank Aktiengesellschaft raised shares of Sun Communities from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a research note on Tuesday, January 20th. Truist Financial boosted their price objective on Sun Communities from $141.00 to $142.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Finally, Robert W. Baird increased their target price on Sun Communities from $134.00 to $136.00 and gave the company a “neutral” rating in a report on Wednesday, November 19th.

Insiders Place Their Bets

In other Sun Communities news, Director Gary A. Shiffman sold 156,875 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $123.53, for a total value of $19,378,768.75. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.89% of the company’s stock.

Institutional Investors Weigh In On Sun Communities

A number of hedge funds have recently modified their holdings of the business. Norges Bank acquired a new position in Sun Communities during the second quarter worth about $925,926,000. Wellington Management Group LLP raised its holdings in Sun Communities by 1,224.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,485,795 shares of the real estate investment trust’s stock valued at $578,668,000 after acquiring an additional 4,147,015 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Sun Communities by 37,933.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,474,162 shares of the real estate investment trust’s stock worth $182,663,000 after purchasing an additional 1,470,286 shares in the last quarter. Dodge & Cox boosted its holdings in shares of Sun Communities by 4.0% during the 2nd quarter. Dodge & Cox now owns 14,198,760 shares of the real estate investment trust’s stock worth $1,796,001,000 after purchasing an additional 550,940 shares during the last quarter. Finally, M&T Bank Corp boosted its holdings in shares of Sun Communities by 20,348.9% during the 4th quarter. M&T Bank Corp now owns 498,339 shares of the real estate investment trust’s stock worth $61,749,000 after purchasing an additional 495,902 shares during the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Sun Communities Trading Up 1.5%

Shares of NYSE:SUI opened at $130.85 on Tuesday. The business’s 50 day moving average price is $125.29 and its 200-day moving average price is $126.08. Sun Communities has a 1 year low of $109.22 and a 1 year high of $137.77. The firm has a market capitalization of $16.18 billion, a price-to-earnings ratio of 16.40, a price-to-earnings-growth ratio of 4.31 and a beta of 0.90. The company has a debt-to-equity ratio of 0.58, a current ratio of 6.01 and a quick ratio of 6.01.

Sun Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Wednesday, December 31st were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Wednesday, December 31st. Sun Communities’s dividend payout ratio is currently 52.13%.

Sun Communities Company Profile

Sun Communities, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company’s portfolio spans more than 500 manufactured housing communities and over 160 RV resorts, offering affordable, long-term housing as well as short-stay recreational lodging. Through professional on-site management and amenity-rich community designs, Sun Communities serves a diverse customer base that includes retirees, workforce families and vacationers.

Founded in 1975 and headquartered in Southfield, Michigan, Sun Communities has grown organically and through strategic acquisitions to become one of the largest operators in its sector.