Sun Communities (NYSE:SUI) Given a $194.00 Price Target by Evercore ISI Analysts

Evercore ISI set a $194.00 price target on Sun Communities (NYSE:SUIGet Rating) in a report published on Monday, Stock Target Advisor reports.

SUI has been the subject of several other research reports. StockNews.com downgraded Sun Communities from a hold rating to a sell rating in a research note on Thursday, May 5th. JMP Securities started coverage on Sun Communities in a report on Wednesday, April 20th. They issued an outperform rating and a $220.00 price target for the company. Truist Financial assumed coverage on Sun Communities in a report on Tuesday, May 10th. They issued a buy rating and a $185.00 price target for the company. Robert W. Baird reduced their price objective on Sun Communities from $210.00 to $205.00 in a research note on Wednesday, March 30th. Finally, Barclays reduced their price target on Sun Communities from $236.00 to $230.00 and set an overweight rating on the stock in a research report on Thursday, April 14th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $213.63.

Shares of SUI opened at $161.17 on Monday. The company has a current ratio of 3.40, a quick ratio of 3.40 and a debt-to-equity ratio of 0.88. The firm has a market cap of $19.60 billion, a PE ratio of 51.99, a price-to-earnings-growth ratio of 2.41 and a beta of 0.64. The company’s 50 day simple moving average is $165.59 and its 200-day simple moving average is $180.90. Sun Communities has a 12-month low of $148.64 and a 12-month high of $211.79.

Sun Communities (NYSE:SUIGet Rating) last issued its quarterly earnings results on Monday, April 25th. The real estate investment trust reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). Sun Communities had a return on equity of 5.09% and a net margin of 14.97%. During the same period last year, the company earned $1.26 EPS. As a group, equities research analysts forecast that Sun Communities will post 7.3 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Wednesday, June 29th. Sun Communities’s dividend payout ratio is currently 113.55%.

In related news, Director Clunet R. Lewis sold 4,400 shares of the firm’s stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $153.39, for a total transaction of $674,916.00. Following the transaction, the director now owns 26,400 shares of the company’s stock, valued at $4,049,496. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO John Bandini Mclaren sold 11,500 shares of the firm’s stock in a transaction that occurred on Thursday, April 28th. The shares were sold at an average price of $180.27, for a total transaction of $2,073,105.00. Following the transaction, the chief operating officer now directly owns 148,691 shares in the company, valued at approximately $26,804,526.57. The disclosure for this sale can be found here. Company insiders own 2.25% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Riverview Trust Co acquired a new stake in Sun Communities during the first quarter worth $28,000. Andrew Hill Investment Advisors Inc. bought a new position in shares of Sun Communities in the fourth quarter valued at about $45,000. Meeder Asset Management Inc. bought a new stake in Sun Communities during the 1st quarter worth about $41,000. Spire Wealth Management raised its holdings in Sun Communities by 658.3% during the 4th quarter. Spire Wealth Management now owns 273 shares of the real estate investment trust’s stock worth $57,000 after purchasing an additional 237 shares during the last quarter. Finally, MUFG Americas Holdings Corp increased its stake in shares of Sun Communities by 56.5% in the 4th quarter. MUFG Americas Holdings Corp now owns 288 shares of the real estate investment trust’s stock valued at $60,000 after acquiring an additional 104 shares during the last quarter.

About Sun Communities (Get Rating)

Sun Communities, Inc is a REIT that, as of September 30, 2020, owned, operated, or had an interest in a portfolio of 432 communities comprising nearly 146,000 developed sites in 32 states and Ontario, Canada.

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