Sun Communities, Inc. (NYSE:SUI) Receives $137.86 Consensus Target Price from Analysts

Sun Communities, Inc. (NYSE:SUI) has been given an average recommendation of “Hold” by the sixteen ratings firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $137.8571.

Several brokerages have recently commented on SUI. Morgan Stanley set a $142.00 price objective on shares of Sun Communities in a report on Thursday, September 4th. Truist Financial upped their price objective on shares of Sun Communities from $137.00 to $141.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Wall Street Zen upgraded shares of Sun Communities from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Royal Bank Of Canada decreased their price objective on shares of Sun Communities from $147.00 to $143.00 and set an “outperform” rating on the stock in a report on Friday, August 1st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Sun Communities in a report on Wednesday, October 8th.

Institutional Investors Weigh In On Sun Communities

Several large investors have recently added to or reduced their stakes in SUI. Norges Bank purchased a new stake in Sun Communities during the 2nd quarter worth approximately $925,926,000. Dodge & Cox increased its stake in Sun Communities by 42.1% during the 1st quarter. Dodge & Cox now owns 13,647,820 shares of the real estate investment trust’s stock worth $1,755,656,000 after buying an additional 4,041,802 shares during the period. Nuveen LLC purchased a new stake in Sun Communities during the 1st quarter worth approximately $112,395,000. Deutsche Bank AG increased its stake in Sun Communities by 103.7% during the 1st quarter. Deutsche Bank AG now owns 1,611,425 shares of the real estate investment trust’s stock worth $207,294,000 after buying an additional 820,422 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in Sun Communities by 10.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,118,054 shares of the real estate investment trust’s stock worth $787,029,000 after buying an additional 568,514 shares during the period. 99.59% of the stock is owned by hedge funds and other institutional investors.

Sun Communities Stock Performance

NYSE:SUI opened at $123.75 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 7.08 and a quick ratio of 7.08. The firm has a market capitalization of $15.49 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 6.36 and a beta of 0.86. The company’s 50-day moving average is $127.05 and its two-hundred day moving average is $125.11. Sun Communities has a 1-year low of $109.22 and a 1-year high of $140.49.

Sun Communities (NYSE:SUI) last issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $1.76 EPS for the quarter, topping the consensus estimate of $1.67 by $0.09. Sun Communities had a net margin of 48.86% and a negative return on equity of 0.60%. The firm had revenue of $623.50 million for the quarter, compared to analyst estimates of $614.79 million. During the same period in the prior year, the business posted $1.86 EPS. Sun Communities has set its FY 2025 guidance at 6.510-6.670 EPS. Q3 2025 guidance at 2.130-2.230 EPS. Analysts forecast that Sun Communities will post 6.77 EPS for the current year.

Sun Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Tuesday, September 30th. Sun Communities’s dividend payout ratio is presently 40.70%.

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.