Sun Communities, Inc. (NYSE:SUI – Get Free Report) has earned an average recommendation of “Moderate Buy” from the seventeen brokerages that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, eight have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $139.30.
Several equities analysts have commented on the company. Royal Bank Of Canada downgraded Sun Communities from a “moderate buy” rating to a “hold” rating in a report on Monday, August 10th. Jefferies Financial Group upgraded shares of Sun Communities to a “strong-buy” rating in a report on Wednesday, July 22nd. Wells Fargo & Company lowered their price target on Sun Communities from $142.00 to $141.00 and set an “overweight” rating on the stock in a research report on Monday, August 10th. Barclays lifted their price objective on Sun Communities from $146.00 to $147.00 and gave the stock an “overweight” rating in a research note on Monday, August 17th. Finally, Odeon Capital Group set a $135.00 target price on Sun Communities in a research note on Thursday, July 9th.
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Sun Communities Stock Performance
Sun Communities Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $1.12 per share. The ex-dividend date is Wednesday, September 30th. This represents a $4.48 annualized dividend and a dividend yield of 4.0%. Sun Communities’s payout ratio is presently -63.19%.
Hedge Funds Weigh In On Sun Communities
A number of hedge funds and other institutional investors have recently made changes to their positions in SUI. CX Institutional grew its holdings in Sun Communities by 1,076.7% during the 3rd quarter. CX Institutional now owns 353 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 323 shares during the period. Oslo Pensjonsforsikring AS acquired a new position in shares of Sun Communities during the 1st quarter valued at $49,000. Avalon Trust Co bought a new position in Sun Communities during the second quarter worth $61,000. V Square Quantitative Management LLC boosted its stake in Sun Communities by 36.7% during the first quarter. V Square Quantitative Management LLC now owns 548 shares of the real estate investment trust’s stock worth $69,000 after acquiring an additional 147 shares in the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA grew its holdings in Sun Communities by 31.1% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 590 shares of the real estate investment trust’s stock worth $73,000 after purchasing an additional 140 shares during the period. 99.59% of the stock is owned by institutional investors.
Sun Communities Company Profile
Sun Communities, Inc is a real estate investment trust that owns, operates and develops residential communities and recreational properties. Its portfolio primarily includes manufactured housing communities, recreational vehicle resorts and marinas.
The company provides housing and leisure-oriented accommodations through communities offering manufactured homes, seasonal and long-term RV sites, and related amenities. Its marina operations include wet slips, dry storage and other services for boat owners.
Founded in 1975, Sun Communities serves residents, vacationers and boaters across the United States, with additional operations in the United Kingdom.
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