Sun Communities, Inc. (NYSE:SUI – Get Free Report) has been assigned a consensus rating of “Moderate Buy” from the seventeen brokerages that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $137.05.
Several equities research analysts recently weighed in on SUI shares. Mizuho decreased their target price on Sun Communities from $137.00 to $136.00 and set an “outperform” rating for the company in a research note on Monday, September 21st. Royal Bank Of Canada dropped their price target on shares of Sun Communities from $148.00 to $140.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 13th. Wall Street Zen cut shares of Sun Communities from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Wells Fargo & Company cut their price objective on shares of Sun Communities from $141.00 to $136.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. Finally, Evercore restated an “outperform” rating on shares of Sun Communities in a research report on Wednesday.
Get Our Latest Analysis on SUI
Institutional Investors Weigh In On Sun Communities
A number of institutional investors and hedge funds have recently bought and sold shares of SUI. BlackRock Inc. acquired a new stake in Sun Communities during the 2nd quarter worth $1,649,715,000. Canada Pension Plan Investment Board purchased a new position in Sun Communities during the 2nd quarter worth $156,841,000. Legal & General Group Plc purchased a new position in Sun Communities during the 2nd quarter worth $122,737,000. Deutsche Bank AG acquired a new position in Sun Communities in the second quarter valued at $108,430,000. Finally, Bank of New York Mellon Corp acquired a new position in Sun Communities in the second quarter valued at $82,662,000. 99.59% of the stock is owned by hedge funds and other institutional investors.
Sun Communities Stock Up 0.9%
SUI stock opened at $113.28 on Friday. The company’s 50 day moving average price is $116.16 and its 200 day moving average price is $123.47. The firm has a market capitalization of $13.52 billion, a price-to-earnings ratio of -18.39, a PEG ratio of 4.85 and a beta of 0.76. Sun Communities has a fifty-two week low of $109.77 and a fifty-two week high of $137.85. The company has a debt-to-equity ratio of 0.69, a quick ratio of 2.52 and a current ratio of 4.68.
Sun Communities (NYSE:SUI – Get Free Report) last posted its quarterly earnings results on Monday, October 26th. The real estate investment trust reported $2.35 EPS for the quarter, topping the consensus estimate of $2.30 by $0.05. The company had revenue of $558.20 million during the quarter, compared to analysts’ expectations of $563.59 million. Sun Communities had a negative net margin of 36.00% and a positive return on equity of 5.02%. The firm’s revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.28 EPS. On average, equities research analysts anticipate that Sun Communities will post 7.01 EPS for the current fiscal year.
Sun Communities Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Wednesday, September 30th. Sun Communities’s dividend payout ratio (DPR) is -72.73%.
About Sun Communities
Sun Communities, Inc (NYSE:SUI) is a real estate investment trust that owns, operates and develops manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company provides residential sites for manufactured homes, seasonal and long-term RV accommodations, and marina facilities that include boat slips and related storage services.
Sun Communities also offers vacation accommodations and amenities such as swimming pools, clubhouses, recreational facilities and community services.
Featured Articles
- Five stocks we like better than Sun Communities
- Starbucks Says Its Turnaround Is Done—The Numbers Make a Strong Case (With 1 Catch)
- 3 Robotics ETFs, 3 Different Ways to Bet on Humanoid Robots
- Can Microsoft Turn a Leaner Workforce and Record AI Spending Into Bigger Profits?
- Why JFrog Could Be the Software Infrastructure Company to Beat in the AI Boom
Receive News & Ratings for Sun Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sun Communities and related companies with MarketBeat.com's FREE daily email newsletter.
