Sun Communities (NYSE:SUI) Price Target Lowered to $138.00 at BMO Capital Markets

Sun Communities (NYSE:SUI) had its price objective lowered by BMO Capital Markets from $145.00 to $138.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the real estate investment trust’s stock.

A number of other research firms have also weighed in on SUI. Royal Bank of Canada boosted their price target on shares of Sun Communities from $131.00 to $137.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Jefferies Financial Group started coverage on shares of Sun Communities in a research note on Thursday, October 17th. They set a “buy” rating and a $160.00 target price on the stock. StockNews.com downgraded shares of Sun Communities from a “hold” rating to a “sell” rating in a report on Friday, October 18th. Evercore ISI upped their price target on Sun Communities from $149.00 to $150.00 and gave the company an “in-line” rating in a research note on Monday, October 21st. Finally, Wells Fargo & Company raised their target price on Sun Communities from $123.00 to $154.00 and gave the company an “equal weight” rating in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Sun Communities currently has a consensus rating of “Hold” and an average price target of $141.82.

Sun Communities Price Performance

Shares of NYSE:SUI traded up $2.10 during trading on Thursday, reaching $125.32. The stock had a trading volume of 899,641 shares, compared to its average volume of 825,899. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.42 and a current ratio of 1.42. Sun Communities has a 1-year low of $110.98 and a 1-year high of $147.83. The stock has a market cap of $15.62 billion, a PE ratio of 67.37, a PEG ratio of 0.96 and a beta of 0.91. The business has a fifty day moving average price of $135.52 and a 200-day moving average price of $126.75.

Sun Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend was Monday, September 30th. Sun Communities’s dividend payout ratio (DPR) is presently 202.15%.

Institutional Trading of Sun Communities

A number of institutional investors have recently bought and sold shares of SUI. Avior Wealth Management LLC increased its holdings in shares of Sun Communities by 3.0% in the 3rd quarter. Avior Wealth Management LLC now owns 4,328 shares of the real estate investment trust’s stock valued at $585,000 after acquiring an additional 125 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Sun Communities in the third quarter valued at approximately $390,000. Napa Wealth Management acquired a new stake in Sun Communities during the third quarter worth approximately $255,000. AMG National Trust Bank purchased a new stake in shares of Sun Communities during the 3rd quarter worth approximately $1,690,000. Finally, Swiss National Bank boosted its holdings in shares of Sun Communities by 0.4% in the 3rd quarter. Swiss National Bank now owns 369,860 shares of the real estate investment trust’s stock valued at $49,987,000 after buying an additional 1,600 shares in the last quarter. 99.59% of the stock is owned by hedge funds and other institutional investors.

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.