Brokerages Set Sun Communities, Inc. (NYSE:SUI) Target Price at $134.40

Shares of Sun Communities, Inc. (NYSE:SUI) have received a consensus rating of “Moderate Buy” from the ten research firms that are covering the stock, MarketBeat.com reports. Five 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 brokerages that have issued ratings on the stock in the last year is $134.40.

SUI has been the subject of several recent analyst reports. Evercore ISI dropped their price target on Sun Communities from $145.00 to $128.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. JMP Securities restated a “market outperform” rating and issued a $150.00 price target on shares of Sun Communities in a research note on Thursday, May 2nd. Finally, Royal Bank of Canada dropped their price target on Sun Communities from $142.00 to $130.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st.

Sun Communities Trading Up 2.3 %

SUI stock opened at $124.91 on Monday. Sun Communities has a 1-year low of $102.74 and a 1-year high of $137.45. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.78 and a quick ratio of 1.78. The company has a market capitalization of $15.57 billion, a price-to-earnings ratio of 107.68, a PEG ratio of 0.90 and a beta of 0.88. The business has a 50 day simple moving average of $119.50 and a two-hundred day simple moving average of $123.67.

Sun Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a dividend of $0.94 per share. The ex-dividend date was Friday, June 28th. This represents a $3.76 annualized dividend and a dividend yield of 3.01%. Sun Communities’s dividend payout ratio (DPR) is 324.14%.

Institutional Trading of Sun Communities

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. raised its holdings in Sun Communities by 1.0% during the 4th quarter. Principal Financial Group Inc. now owns 4,569,401 shares of the real estate investment trust’s stock valued at $610,700,000 after buying an additional 45,700 shares during the period. Norges Bank purchased a new stake in Sun Communities during the 4th quarter valued at $576,397,000. Price T Rowe Associates Inc. MD raised its holdings in Sun Communities by 50.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,302,804 shares of the real estate investment trust’s stock valued at $424,677,000 after buying an additional 1,105,306 shares during the period. Daiwa Securities Group Inc. raised its holdings in Sun Communities by 1.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 2,597,775 shares of the real estate investment trust’s stock valued at $347,193,000 after buying an additional 31,831 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in Sun Communities by 8.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,514,234 shares of the real estate investment trust’s stock valued at $336,027,000 after buying an additional 201,325 shares during the period. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Sun Communities Company Profile

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.