Sun Communities (NYSE:SUI – Free Report) had its price objective hoisted by Truist Financial from $127.00 to $138.00 in a research note published on Tuesday, Benzinga reports. They currently have a hold rating on the real estate investment trust’s stock.
Several other equities research analysts have also recently commented on the stock. JMP Securities reaffirmed a market outperform rating and issued a $150.00 price objective on shares of Sun Communities in a research report on Thursday, May 2nd. StockNews.com lowered Sun Communities from a hold rating to a sell rating in a report on Friday, August 9th. Royal Bank of Canada increased their price objective on Sun Communities from $131.00 to $137.00 and gave the stock an outperform rating in a report on Friday, August 2nd. Finally, Evercore ISI cut their target price on Sun Communities from $145.00 to $128.00 and set an outperform rating on the stock in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $135.30.
Get Our Latest Stock Report on SUI
Sun Communities Stock Performance
Sun Communities Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend was Friday, June 28th. Sun Communities’s payout ratio is presently 324.14%.
Insider Activity at Sun Communities
In other news, CEO Baxter Underwood sold 3,000 shares of Sun Communities stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $131.43, for a total value of $394,290.00. Following the completion of the transaction, the chief executive officer now owns 63,462 shares of the company’s stock, valued at approximately $8,340,810.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.89% of the stock is owned by company insiders.
Institutional Trading of Sun Communities
Several institutional investors and hedge funds have recently bought and sold shares of SUI. Farmers & Merchants Investments Inc. acquired a new stake in shares of Sun Communities during the 1st quarter worth about $26,000. V Square Quantitative Management LLC bought a new position in Sun Communities in the 4th quarter valued at about $32,000. CKW Financial Group bought a new position in Sun Communities in the 1st quarter valued at about $38,000. Quest Partners LLC lifted its position in Sun Communities by 12,700.0% during the second quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 381 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Sun Communities during the second quarter worth approximately $62,000. 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.
Featured Articles
- Five stocks we like better than Sun Communities
- 3 Home Improvement Stocks that Can Upgrade Your Portfolio
- JD.com Earnings Surprise: China’s Outlook Better Than Expected
- What is the Dow Jones Industrial Average (DJIA)?
- Warren Buffett’s Recent Stock Moves: Top Buys and Sells to Watch
- 3 Grocery Stocks That Are Proving They Are Still Essential
- Sea Limited’s E-Commerce and Fintech Strength Fuel Stock Surge
Receive News & Ratings for Sun Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sun Communities and related companies with MarketBeat.com's FREE daily email newsletter.