Sun Communities (NYSE:SUI) Hits New 1-Year Low – Should You Sell?

Sun Communities, Inc. (NYSE:SUI – Get Free Report)’s share price reached a new 52-week low during trading on Thursday. The stock traded as low as $112.28 and last traded at $112.3860, with a volume of 916404 shares trading hands. The stock had previously closed at $113.77.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Royal Bank Of Canada lowered Sun Communities from a “moderate buy” rating to a “hold” rating in a research note on Monday, August 10th. Evercore set a $136.00 price objective on shares of Sun Communities in a report on Monday. Weiss Ratings lowered shares of Sun Communities from a “hold (c)” rating to a “sell (d+)” rating in a report on Wednesday, August 12th. Mizuho cut their target price on shares of Sun Communities from $137.00 to $136.00 and set an “outperform” rating on the stock in a research report on Monday, September 21st. Finally, Odeon Capital Group set a $135.00 target price on shares of Sun Communities in a report on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Sun Communities has an average rating of “Moderate Buy” and an average price target of $139.30.

View Our Latest Report on SUI

Sun Communities Trading Up 1.2%

The company has a market cap of $13.69 billion, a price-to-earnings ratio of -15.86, a PEG ratio of 5.07 and a beta of 0.77. The firm has a 50 day moving average price of $119.71 and a two-hundred day moving average price of $123.57. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.70.

Sun Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Wednesday, September 30th. Sun Communities’s dividend payout ratio is currently -63.19%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SUI. QRG Capital Management Inc. raised its stake in Sun Communities by 10.5% during the second quarter. QRG Capital Management Inc. now owns 3,490 shares of the real estate investment trust’s stock worth $418,000 after buying an additional 332 shares during the last quarter. Van Hulzen Asset Management LLC boosted its position in Sun Communities by 5.9% during the second quarter. Van Hulzen Asset Management LLC now owns 6,685 shares of the real estate investment trust’s stock valued at $802,000 after acquiring an additional 370 shares during the last quarter. National Pension Service grew its holdings in Sun Communities by 164.0% during the 2nd quarter. National Pension Service now owns 25,236 shares of the real estate investment trust’s stock worth $3,026,000 after acquiring an additional 15,678 shares during the period. Engineers Gate Manager LP grew its holdings in Sun Communities by 5,319.8% during the 2nd quarter. Engineers Gate Manager LP now owns 227,305 shares of the real estate investment trust’s stock worth $27,256,000 after acquiring an additional 223,111 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Sun Communities in the 2nd quarter worth about $72,000. Institutional investors and hedge funds own 99.59% of the company’s stock.

About Sun Communities

(Get Free Report)

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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