Sun Communities (NYSE:SUI) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of Sun Communities (NYSE:SUI) from a sell rating to a hold rating in a research note published on Tuesday morning.

Several other research firms also recently commented on SUI. Evercore ISI raised their price objective on Sun Communities from $149.00 to $150.00 and gave the company an “in-line” rating in a report on Monday, October 21st. Jefferies Financial Group started coverage on shares of Sun Communities in a research note on Thursday, October 17th. They issued a “buy” rating and a $160.00 price target on the stock. Baird R W cut shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Robert W. Baird downgraded shares of Sun Communities from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $145.00 to $126.00 in a report on Thursday, November 7th. Finally, UBS Group upgraded Sun Communities to a “strong-buy” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Sun Communities presently has a consensus rating of “Hold” and an average price target of $139.08.

Sun Communities Price Performance

Sun Communities stock opened at $124.08 on Tuesday. The stock has a market capitalization of $15.81 billion, a P/E ratio of 66.71, a P/E/G ratio of 0.53 and a beta of 0.91. The company’s fifty day moving average price is $134.73 and its 200 day moving average price is $126.98. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. Sun Communities has a 1 year low of $110.98 and a 1 year high of $147.83.

Sun Communities (NYSE:SUI) last posted 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 firm had revenue of $939.90 million for the quarter, compared to analysts’ expectations of $980.41 million. During the same quarter last year, the firm posted $2.57 earnings per share. Sun Communities’s quarterly revenue was down 4.4% on a year-over-year basis. As a group, equities research analysts anticipate that Sun Communities will post 6.75 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date was Monday, September 30th. Sun Communities’s dividend payout ratio is presently 202.15%.

Institutional Trading of Sun Communities

A number of hedge funds and other institutional investors have recently modified their holdings of SUI. Bristlecone Advisors LLC boosted its stake in Sun Communities by 2.4% during the second quarter. Bristlecone Advisors LLC now owns 3,655 shares of the real estate investment trust’s stock worth $440,000 after buying an additional 85 shares during the period. Toronto Dominion Bank lifted its holdings in shares of Sun Communities by 0.8% in the 2nd quarter. Toronto Dominion Bank now owns 11,916 shares of the real estate investment trust’s stock worth $1,434,000 after acquiring an additional 98 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Sun Communities by 15.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 762 shares of the real estate investment trust’s stock worth $92,000 after purchasing an additional 102 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in Sun Communities by 1.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 7,034 shares of the real estate investment trust’s stock valued at $846,000 after purchasing an additional 115 shares during the last quarter. Finally, Avior Wealth Management LLC raised its position in Sun Communities by 3.0% in the third quarter. Avior Wealth Management LLC now owns 4,328 shares of the real estate investment trust’s stock valued at $585,000 after purchasing an additional 125 shares during the period. 99.59% of the stock is owned by institutional investors and hedge funds.

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.