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

Sun Communities, Inc. (NYSE:SUI) has received a consensus recommendation of “Hold” from the fourteen analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $135.69.

SUI has been the topic of several research analyst reports. Evercore ISI boosted their price objective on Sun Communities from $149.00 to $150.00 and gave the stock an “in-line” rating in a research report on Monday, October 21st. UBS Group lowered shares of Sun Communities from a “buy” rating to a “neutral” rating and reduced their price target for the company from $155.00 to $134.00 in a research report on Thursday, November 14th. Royal Bank of Canada lowered their price objective on shares of Sun Communities from $147.00 to $135.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. StockNews.com downgraded shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Finally, Wells Fargo & Company decreased their price target on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 11th.

Sun Communities Stock Performance

Shares of SUI stock opened at $126.08 on Monday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. The firm has a 50-day moving average of $124.39 and a 200-day moving average of $129.26. Sun Communities has a one year low of $110.98 and a one year high of $147.83. The company has a market cap of $16.06 billion, a P/E ratio of 67.78, a P/E/G ratio of 0.49 and a beta of 0.89.

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 net margin of 7.46% and a return on equity of 3.21%. The firm had revenue of $939.90 million during the quarter, compared to analysts’ expectations of $980.41 million. During the same quarter last year, the business posted $2.57 EPS. The company’s quarterly revenue was down 4.4% on a year-over-year basis. Equities research analysts forecast that Sun Communities will post 6.78 EPS for the current fiscal year.

Sun Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date was Tuesday, December 31st. Sun Communities’s payout ratio is presently 202.15%.

Institutional Investors Weigh In On Sun Communities

A number of institutional investors and hedge funds have recently modified their holdings of SUI. Assetmark Inc. boosted its holdings in Sun Communities by 2,111.1% in the 3rd quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 190 shares during the period. Brooklyn Investment Group bought a new stake in shares of Sun Communities in the 3rd quarter worth approximately $41,000. Quest Partners LLC lifted its stake in Sun Communities by 12,700.0% in the second quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 381 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in Sun Communities during the 3rd quarter valued at about $60,000. Finally, Farther Finance Advisors LLC raised its holdings in Sun Communities by 89.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock valued at $68,000 after buying an additional 236 shares during the last quarter. 99.59% of the stock is owned by hedge funds and other institutional investors.

About Sun Communities

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.