Sun Communities, Inc. (NYSE:SUI) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Sun Communities, Inc. (NYSE:SUI) have been assigned a consensus recommendation of “Moderate Buy” from the ten analysts that are presently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $141.17.

A number of equities research analysts have recently issued reports on SUI shares. Truist Financial cut their target price on shares of Sun Communities from $143.00 to $136.00 and set a “hold” rating on the stock in a research note on Monday, March 18th. Barclays cut their target price on shares of Sun Communities from $157.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, January 26th. Compass Point increased their price objective on shares of Sun Communities from $116.00 to $125.00 and gave the stock a “neutral” rating in a research note on Thursday, March 21st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Sun Communities in a research note on Tuesday, January 30th. They set a “hold” rating and a $129.00 price objective on the stock. Finally, JMP Securities reiterated a “market outperform” rating and set a $150.00 price objective on shares of Sun Communities in a research note on Wednesday, March 20th.

Insiders Place Their Bets

In other Sun Communities news, CEO Baxter Underwood sold 4,000 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $131.48, for a total value of $525,920.00. Following the completion of the transaction, the chief executive officer now owns 66,852 shares in the company, valued at approximately $8,789,700.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Craig Leupold sold 2,500 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $128.39, for a total value of $320,975.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Baxter Underwood sold 4,000 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $131.48, for a total transaction of $525,920.00. Following the completion of the transaction, the chief executive officer now owns 66,852 shares of the company’s stock, valued at $8,789,700.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,000 shares of company stock worth $912,460. Insiders own 1.89% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Strs Ohio boosted its holdings in shares of Sun Communities by 8.6% in the fourth quarter. Strs Ohio now owns 301,096 shares of the real estate investment trust’s stock valued at $40,241,000 after acquiring an additional 23,792 shares in the last quarter. Stratos Wealth Partners LTD. lifted its stake in Sun Communities by 9.2% during the third quarter. Stratos Wealth Partners LTD. now owns 1,846 shares of the real estate investment trust’s stock valued at $219,000 after purchasing an additional 155 shares during the last quarter. DNB Asset Management AS lifted its stake in Sun Communities by 5.6% during the fourth quarter. DNB Asset Management AS now owns 17,647 shares of the real estate investment trust’s stock valued at $2,359,000 after purchasing an additional 932 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Sun Communities by 27.8% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 118,845 shares of the real estate investment trust’s stock valued at $15,886,000 after purchasing an additional 25,850 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in Sun Communities by 0.7% during the fourth quarter. Arizona State Retirement System now owns 34,195 shares of the real estate investment trust’s stock valued at $4,570,000 after purchasing an additional 253 shares during the last quarter. 99.59% of the stock is currently owned by institutional investors.

Sun Communities Stock Performance

Shares of Sun Communities stock opened at $118.38 on Friday. The firm has a market cap of $14.75 billion, a PE ratio of 103.84, a price-to-earnings-growth ratio of 7.71 and a beta of 0.80. The firm’s 50-day simple moving average is $128.19 and its 200-day simple moving average is $125.09. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.66 and a current ratio of 1.66. Sun Communities has a 1 year low of $102.74 and a 1 year high of $141.52.

Sun Communities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given a $0.94 dividend. This is a boost from Sun Communities’s previous quarterly dividend of $0.93. The ex-dividend date was Wednesday, March 27th. This represents a $3.76 annualized dividend and a yield of 3.18%. Sun Communities’s dividend payout ratio is 329.83%.

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.