Sun Communities (SUI) – Investment Analysts’ Weekly Ratings Updates

Sun Communities (NYSE: SUI) recently received a number of ratings updates from brokerages and research firms:

• 11/12/2024 – Sun Communities was downgraded by analysts at Bank of America Co. from a “neutral” rating to an “underperform” rating. They now have a $114.00 price target on the stock, down previously from $147.00.
• 11/12/2024 – Sun Communities was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 11/7/2024 – Sun Communities had its price target lowered by analysts at Royal Bank of Canada from $147.00 to $135.00. They now have an “outperform” rating on the stock.
• 11/7/2024 – Sun Communities had its price target lowered by analysts at BMO Capital Markets from $145.00 to $138.00. They now have an “outperform” rating on the stock.
• 11/7/2024 – Sun Communities was downgraded by analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating. They now have a $126.00 price target on the stock, down previously from $145.00.
• 11/7/2024 – Sun Communities was downgraded by analysts at Baird R W from a “strong-buy” rating to a “hold” rating.
• 10/21/2024 – Sun Communities had its price target raised by analysts at Evercore ISI from $149.00 to $150.00. They now have an “in-line” rating on the stock.
• 10/18/2024 – Sun Communities was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 10/17/2024 – Sun Communities is now covered by analysts at Jefferies Financial Group Inc.. They set a “buy” rating and a $160.00 price target on the stock.
• 10/10/2024 – Sun Communities was upgraded by analysts at UBS Group AG to a “strong-buy” rating.
• 10/10/2024 – Sun Communities was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 9/19/2024 – Sun Communities had its price target raised by analysts at Wells Fargo & Company from $123.00 to $154.00. They now have an “equal weight” rating on the stock.
• 9/16/2024 – Sun Communities was downgraded by analysts at Evercore ISI from an “outperform” rating to an “inline” rating. They now have a $149.00 price target on the stock, up previously from $144.00.

Sun Communities Stock Performance

NYSE:SUI opened at $125.89 on Thursday. The stock has a market capitalization of $16.04 billion, a P/E ratio of 67.68, a price-to-earnings-growth ratio of 0.95 and a beta of 0.91. Sun Communities, Inc. has a 1 year low of $110.98 and a 1 year high of $147.83. The firm has a 50 day moving average of $134.93 and a 200-day moving average of $126.99. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93.

Sun Communities (NYSE:SUI) last posted its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $2.31 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The business had revenue of $939.90 million during the quarter, compared to analyst estimates of $980.41 million. During the same period in the prior year, the firm posted $2.57 EPS. Sun Communities’s revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Sun Communities, Inc. will post 6.76 EPS for the current fiscal year.

Sun Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.99%. The ex-dividend date was Monday, September 30th. Sun Communities’s payout ratio is presently 202.15%.

Hedge Funds Weigh In On Sun Communities

A number of large investors have recently modified their holdings of the stock. Bristlecone Advisors LLC increased its holdings in shares of Sun Communities by 2.4% in the second quarter. Bristlecone Advisors LLC now owns 3,655 shares of the real estate investment trust’s stock valued at $440,000 after purchasing an additional 85 shares in the last quarter. Toronto Dominion Bank increased its stake in shares of Sun Communities by 0.8% in the 2nd quarter. Toronto Dominion Bank now owns 11,916 shares of the real estate investment trust’s stock valued at $1,434,000 after buying an additional 98 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of Sun Communities by 15.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 762 shares of the real estate investment trust’s stock worth $92,000 after acquiring an additional 102 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Sun Communities by 1.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 7,034 shares of the real estate investment trust’s stock valued at $846,000 after acquiring an additional 115 shares during the period. Finally, Avior Wealth Management LLC boosted its holdings in Sun Communities by 3.0% in the third quarter. Avior Wealth Management LLC now owns 4,328 shares of the real estate investment trust’s stock valued at $585,000 after acquiring an additional 125 shares during the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

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.