Sun Communities, Inc. (NYSE:SUI) Receives $136.60 Average PT from Analysts

Shares of Sun Communities, Inc. (NYSE:SUI) have received a consensus rating of “Hold” from the eleven ratings firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $136.60.

SUI has been the subject of a number of analyst reports. Wells Fargo & Company cut their target price on 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. Truist Financial boosted their target price on shares of Sun Communities from $136.00 to $142.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Royal Bank of Canada reiterated an “outperform” rating on shares of Sun Communities in a report on Friday, February 28th. Finally, Jefferies Financial Group reduced their price objective on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd.

Sun Communities Stock Down 1.3 %

SUI opened at $128.53 on Friday. The company has a market cap of $16.40 billion, a PE ratio of 69.10 and a beta of 0.90. Sun Communities has a twelve month low of $110.98 and a twelve month high of $147.83. The company has a 50-day moving average price of $128.93 and a 200 day moving average price of $128.91. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93.

Sun Communities (NYSE:SUI) last released its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. The company had revenue of $745.90 million during the quarter, compared to the consensus estimate of $724.68 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. Sell-side analysts expect that Sun Communities will post 6.77 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Monday, March 31st. Sun Communities’s payout ratio is currently 508.11%.

Hedge Funds Weigh In On Sun Communities

Several hedge funds have recently bought and sold shares of SUI. Aster Capital Management DIFC Ltd lifted its position in shares of Sun Communities by 263.6% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 232 shares in the last quarter. Brooklyn Investment Group acquired a new position in Sun Communities in the 3rd quarter valued at about $41,000. Smartleaf Asset Management LLC lifted its holdings in Sun Communities by 45.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 124 shares in the last quarter. CKW Financial Group boosted its stake in shares of Sun Communities by 45.0% during the 4th quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 135 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Sun Communities during the third quarter worth about $60,000. Hedge funds and other institutional investors 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.