Brokerages Set Sun Communities, Inc. (NYSE:SUI) Target Price at $136.27

Shares of Sun Communities, Inc. (NYSE:SUI) have been given an average rating of “Moderate Buy” by the eleven research firms that are presently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $136.27.

SUI has been the topic of a number of recent research reports. Royal Bank of Canada cut their target price on shares of Sun Communities from $142.00 to $130.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Truist Financial dropped their target price on Sun Communities from $143.00 to $136.00 and set a “hold” rating on the stock in a report on Monday, March 18th. Evercore ISI reduced their price objective on shares of Sun Communities from $145.00 to $128.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. JMP Securities reiterated a “market outperform” rating and issued a $150.00 target price on shares of Sun Communities in a report on Thursday, May 2nd. Finally, Compass Point upped their target price on Sun Communities from $116.00 to $125.00 and gave the company a “neutral” rating in a report on Thursday, March 21st.

Sun Communities Price Performance

SUI opened at $118.76 on Thursday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.78 and a current ratio of 1.78. The company has a market capitalization of $14.80 billion, a P/E ratio of 102.38, a PEG ratio of 1.06 and a beta of 0.87. Sun Communities has a 1-year low of $102.74 and a 1-year high of $141.52. The company has a 50-day moving average of $117.74 and a 200-day moving average of $125.16.

Sun Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend is Friday, June 28th. Sun Communities’s dividend payout ratio (DPR) is presently 324.14%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Cetera Advisors LLC acquired a new stake in shares of Sun Communities in the 1st quarter valued at $515,000. Swedbank AB bought a new position in Sun Communities during the first quarter valued at about $13,660,000. Virtu Financial LLC acquired a new position in Sun Communities in the 1st quarter valued at approximately $1,106,000. Tidal Investments LLC lifted its position in shares of Sun Communities by 9.4% in the 1st quarter. Tidal Investments LLC now owns 8,869 shares of the real estate investment trust’s stock worth $1,129,000 after acquiring an additional 763 shares during the period. Finally, California State Teachers Retirement System grew its holdings in shares of Sun Communities by 0.5% during the 1st quarter. California State Teachers Retirement System now owns 196,038 shares of the real estate investment trust’s stock worth $25,207,000 after purchasing an additional 986 shares in the last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.

About Sun Communities

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.