Sun Communities, Inc. (NYSE:SUI) Receives $135.70 Average Price Target from Analysts

Shares of Sun Communities, Inc. (NYSE:SUI) have been assigned an average recommendation of “Hold” from the eleven ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $135.70.

A number of brokerages have issued reports on SUI. Jefferies Financial Group initiated coverage on shares of Sun Communities in a report on Tuesday, April 8th. They set a “buy” rating and a $150.00 target price on the stock. JMP Securities reissued a “market outperform” rating and set a $140.00 price objective (down previously from $150.00) on shares of Sun Communities in a report on Monday, April 21st. Truist Financial reduced their target price on Sun Communities from $142.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Finally, Royal Bank of Canada reissued an “outperform” rating on shares of Sun Communities in a report on Friday, February 28th.

Hedge Funds Weigh In On Sun Communities

Several institutional investors have recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Sun Communities by 8.5% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,069 shares of the real estate investment trust’s stock worth $131,000 after buying an additional 84 shares in the last quarter. Cascade Investment Advisors Inc. grew its holdings in shares of Sun Communities by 0.8% during the 4th quarter. Cascade Investment Advisors Inc. now owns 10,373 shares of the real estate investment trust’s stock valued at $1,276,000 after purchasing an additional 85 shares during the last quarter. Utah Retirement Systems raised its position in Sun Communities by 0.5% in the 4th quarter. Utah Retirement Systems now owns 20,503 shares of the real estate investment trust’s stock worth $2,521,000 after purchasing an additional 100 shares during the period. Cetera Trust Company N.A lifted its stake in Sun Communities by 6.0% in the fourth quarter. Cetera Trust Company N.A now owns 1,865 shares of the real estate investment trust’s stock worth $229,000 after purchasing an additional 105 shares during the last quarter. Finally, Bessemer Group Inc. boosted its position in Sun Communities by 11.6% during the first quarter. Bessemer Group Inc. now owns 1,153 shares of the real estate investment trust’s stock valued at $149,000 after buying an additional 120 shares during the period. 99.59% of the stock is currently owned by institutional investors.

Sun Communities Stock Up 0.1 %

SUI opened at $123.42 on Wednesday. Sun Communities has a twelve month low of $109.22 and a twelve month high of $147.83. The company’s 50-day moving average price is $127.13 and its two-hundred day moving average price is $126.82. The stock has a market cap of $15.75 billion, a price-to-earnings ratio of 66.35 and a beta of 0.84. 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 announced its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.02. The company had revenue of $745.90 million during the quarter, compared to analyst estimates of $724.68 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. As a group, equities analysts expect that Sun Communities will post 6.77 earnings per share for the current year.

Sun Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.94 dividend. The ex-dividend date was Monday, March 31st. This represents a $3.76 dividend on an annualized basis and a yield of 3.05%. Sun Communities’s dividend payout ratio is presently 508.11%.

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.