Sun Communities (NYSE:SUI) Upgraded to “Strong-Buy” at UBS Group

UBS Group upgraded shares of Sun Communities (NYSE:SUI) to a strong-buy rating in a report published on Thursday, Zacks.com reports.

Other analysts have also recently issued reports about the company. Evercore ISI cut Sun Communities from an outperform rating to an inline rating and increased their price objective for the stock from $144.00 to $149.00 in a research report on Monday, September 16th. Robert W. Baird lifted their price objective on shares of Sun Communities from $144.00 to $145.00 and gave the company an outperform rating in a research report on Tuesday, September 3rd. Royal Bank of Canada upped their price objective on shares of Sun Communities from $131.00 to $137.00 and gave the stock an outperform rating in a research report on Friday, August 2nd. StockNews.com raised shares of Sun Communities from a sell rating to a hold rating in a report on Thursday. Finally, Truist Financial increased their price target on shares of Sun Communities from $127.00 to $138.00 and gave the stock a hold rating in a report on Tuesday, August 13th. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $142.20.

Sun Communities Trading Up 0.7 %

Shares of Sun Communities stock opened at $129.78 on Thursday. The company has a fifty day simple moving average of $134.84 and a 200-day simple moving average of $125.43. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.09. Sun Communities has a 12-month low of $102.74 and a 12-month high of $147.83. The stock has a market cap of $16.18 billion, a price-to-earnings ratio of 150.90, a PEG ratio of 0.93 and a beta of 0.91.

Sun Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Monday, September 30th. Sun Communities’s dividend payout ratio (DPR) is presently 437.21%.

Insider Transactions at Sun Communities

In related news, CEO Baxter Underwood sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $131.43, for a total transaction of $394,290.00. Following the sale, the chief executive officer now directly owns 63,462 shares in the company, valued at approximately $8,340,810.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.89% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Farmers & Merchants Investments Inc. bought a new position in shares of Sun Communities in the 1st quarter worth about $26,000. V Square Quantitative Management LLC acquired a new position in Sun Communities in the fourth quarter valued at approximately $32,000. Quest Partners LLC raised its position in shares of Sun Communities by 12,700.0% during the 2nd quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 381 shares during the period. 1620 Investment Advisors Inc. bought a new stake in shares of Sun Communities in the 2nd quarter worth approximately $62,000. Finally, Fidelis Capital Partners LLC acquired a new position in Sun Communities during the 1st quarter valued at approximately $83,000. Institutional investors and hedge funds 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.