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

Shares of Sun Communities, Inc. (NYSE:SUI) have been given a consensus rating of “Moderate Buy” by the ten ratings firms that are covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $138.09.

SUI has been the subject of a number of analyst reports. Truist Financial raised their target price on shares of Sun Communities from $127.00 to $138.00 and gave the company a “hold” rating in a research note on Tuesday, August 13th. Royal Bank of Canada raised their price objective on Sun Communities from $131.00 to $137.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. StockNews.com downgraded Sun Communities from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Evercore ISI downgraded Sun Communities from an “outperform” rating to an “inline” rating and raised their price target for the company from $144.00 to $149.00 in a report on Monday. Finally, Robert W. Baird upped their price target on shares of Sun Communities from $144.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 3rd.

Sun Communities Stock Down 1.1 %

Shares of Sun Communities stock opened at $145.96 on Tuesday. Sun Communities has a 1 year low of $102.74 and a 1 year high of $147.83. The firm has a market cap of $18.20 billion, a price-to-earnings ratio of 125.83, a PEG ratio of 1.06 and a beta of 0.91. The company has a 50-day moving average of $131.26 and a 200 day moving average of $124.89. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.42 and a quick ratio of 1.42.

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 paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Monday, September 30th. Sun Communities’s dividend payout ratio is currently 324.14%.

Insider Transactions at Sun Communities

In related news, CEO Baxter Underwood sold 3,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $131.43, for a total transaction of $394,290.00. Following the transaction, the chief executive officer now owns 63,462 shares in the company, valued at $8,340,810.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.89% of the company’s stock.

Institutional Trading of Sun Communities

Several large investors have recently modified their holdings of the company. Bristlecone Advisors LLC boosted its position in 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 worth $440,000 after purchasing an additional 85 shares during the last quarter. Toronto Dominion Bank boosted its holdings in shares of Sun Communities by 0.8% in the second quarter. Toronto Dominion Bank now owns 11,916 shares of the real estate investment trust’s stock worth $1,434,000 after buying an additional 98 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in Sun Communities by 0.3% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 29,808 shares of the real estate investment trust’s stock valued at $3,833,000 after buying an additional 100 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in 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 valued at $92,000 after buying an additional 102 shares during the last quarter. Finally, US Bancorp DE raised its position in Sun Communities by 0.5% in the fourth quarter. US Bancorp DE now owns 20,541 shares of the real estate investment trust’s stock worth $2,745,000 after acquiring an additional 107 shares during the period. 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.