Sun Communities, Inc. (NYSE:SUI) Receives Consensus Rating of “Hold” from Analysts

Shares of Sun Communities, Inc. (NYSE:SUI) have been given an average rating of “Hold” by the fourteen brokerages that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $135.69.

SUI has been the topic of a number of analyst reports. Robert W. Baird downgraded shares of Sun Communities from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $145.00 to $126.00 in a research note on Thursday, November 7th. Wells Fargo & Company reduced their price target on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. Truist Financial upgraded Sun Communities from a “hold” rating to a “buy” rating in a research report on Friday. Jefferies Financial Group reduced their target price on Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Finally, UBS Group cut Sun Communities from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $155.00 to $134.00 in a report on Thursday, November 14th.

Sun Communities Stock Performance

Shares of Sun Communities stock opened at $126.08 on Monday. The business’s 50 day moving average price is $124.39 and its 200 day moving average price is $129.11. The company has a market cap of $16.06 billion, a price-to-earnings ratio of 67.78, a PEG ratio of 0.49 and a beta of 0.89. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. Sun Communities has a one year low of $110.98 and a one year high of $147.83.

Sun Communities (NYSE:SUI) last issued its earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). The company had revenue of $939.90 million during the quarter, compared to analyst estimates of $980.41 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The firm’s revenue was down 4.4% compared to the same quarter last year. During the same period last year, the business earned $2.57 earnings per share. On average, research analysts predict that Sun Communities will post 6.78 EPS for the current year.

Sun Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.94 per share. The ex-dividend date was Tuesday, December 31st. This represents a $3.76 dividend on an annualized basis and a yield of 2.98%. Sun Communities’s dividend payout ratio (DPR) is presently 202.15%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cetera Trust Company N.A lifted its holdings in Sun Communities by 6.0% during the 4th quarter. Cetera Trust Company N.A now owns 1,865 shares of the real estate investment trust’s stock worth $229,000 after buying an additional 105 shares in the last quarter. Aurora Investment Managers LLC. raised its stake in shares of Sun Communities by 9.7% in the fourth quarter. Aurora Investment Managers LLC. now owns 27,490 shares of the real estate investment trust’s stock valued at $3,380,000 after acquiring an additional 2,435 shares in the last quarter. HB Wealth Management LLC boosted its holdings in Sun Communities by 4.2% in the fourth quarter. HB Wealth Management LLC now owns 5,183 shares of the real estate investment trust’s stock valued at $637,000 after purchasing an additional 207 shares during the period. Arkadios Wealth Advisors grew its stake in Sun Communities by 13.1% during the 4th quarter. Arkadios Wealth Advisors now owns 5,847 shares of the real estate investment trust’s stock worth $719,000 after purchasing an additional 678 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in Sun Communities by 8.5% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,069 shares of the real estate investment trust’s stock worth $131,000 after purchasing an additional 84 shares during the period. 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.