Sun Communities (NYSE:SUI – Free Report) had its target price trimmed by Mizuho from $137.00 to $136.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the real estate investment trust’s stock.
A number of other research analysts also recently issued reports on SUI. Wells Fargo & Company cut their price target on Sun Communities from $142.00 to $141.00 and set an “overweight” rating on the stock in a report on Monday, August 10th. Weiss Ratings cut Sun Communities from a “hold (c)” rating to a “sell (d+)” rating in a research note on Wednesday, August 12th. Morgan Stanley dropped their price objective on Sun Communities from $135.00 to $126.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 12th. Jefferies Financial Group upgraded Sun Communities to a “strong-buy” rating in a research note on Wednesday, July 22nd. Finally, Barclays boosted their target price on shares of Sun Communities from $146.00 to $147.00 and gave the stock an “overweight” rating in a report on Monday, August 17th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $139.30.
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Sun Communities Price Performance
Sun Communities Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Wednesday, September 30th. Sun Communities’s dividend payout ratio (DPR) is currently -63.19%.
Institutional Investors Weigh In On Sun Communities
A number of large investors have recently modified their holdings of SUI. Oslo Pensjonsforsikring AS acquired a new stake in Sun Communities in the 1st quarter worth approximately $49,000. Allworth Financial LP grew its position in Sun Communities by 141.6% during the 4th quarter. Allworth Financial LP now owns 430 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 252 shares during the last quarter. Eurizon SLJ Capital Ltd acquired a new position in Sun Communities during the 4th quarter valued at approximately $56,000. Avalon Trust Co acquired a new position in Sun Communities during the 2nd quarter valued at approximately $61,000. Finally, V Square Quantitative Management LLC raised its holdings in shares of Sun Communities by 36.7% in the first quarter. V Square Quantitative Management LLC now owns 548 shares of the real estate investment trust’s stock worth $69,000 after buying an additional 147 shares during the last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.
Sun Communities Company Profile
Sun Communities, Inc (NYSE:SUI) is a real estate investment trust that owns, operates and develops residential and recreational properties. Its portfolio is centered on manufactured housing communities, where residents typically lease sites for manufactured homes, as well as recreational vehicle communities and resorts that provide short-term and long-term accommodations.
The company also operates marinas, offering services that may include boat slips, storage, fueling and related amenities.
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