Sun Communities, Inc. (NYSE:SUI) Receives $142.09 Consensus Target Price from Brokerages

Shares of Sun Communities, Inc. (NYSE:SUIGet Free Report) have received a consensus rating of “Moderate Buy” from the ten research firms that are covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $141.00.

SUI has been the subject of several analyst reports. Barclays cut their price target on shares of Sun Communities from $157.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, January 26th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Sun Communities in a report on Tuesday, January 30th. They issued a “hold” rating and a $129.00 price target for the company. BMO Capital Markets cut their price target on shares of Sun Communities from $143.00 to $140.00 and set an “outperform” rating for the company in a report on Monday, January 22nd. Evercore ISI raised their price target on shares of Sun Communities from $128.00 to $132.00 and gave the company an “outperform” rating in a report on Monday, November 27th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $150.00 price objective on shares of Sun Communities in a report on Wednesday, December 20th.

Check Out Our Latest Analysis on Sun Communities

Insider Buying and Selling

In related news, CEO Baxter Underwood sold 2,000 shares of Sun Communities stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $128.99, for a total value of $257,980.00. Following the transaction, the chief executive officer now owns 66,896 shares in the company, valued at approximately $8,628,915.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.06% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sun Communities

A number of large investors have recently added to or reduced their stakes in the business. Cetera Investment Advisers increased its position in shares of Sun Communities by 1.9% in the first quarter. Cetera Investment Advisers now owns 3,453 shares of the real estate investment trust’s stock valued at $605,000 after acquiring an additional 64 shares during the period. Vestcor Inc increased its position in shares of Sun Communities by 2.3% in the fourth quarter. Vestcor Inc now owns 2,926 shares of the real estate investment trust’s stock valued at $418,000 after acquiring an additional 65 shares during the period. Nissay Asset Management Corp Japan ADV increased its position in shares of Sun Communities by 0.3% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 26,611 shares of the real estate investment trust’s stock valued at $3,749,000 after acquiring an additional 77 shares during the period. Sugarloaf Wealth Management LLC increased its position in shares of Sun Communities by 9.2% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 927 shares of the real estate investment trust’s stock valued at $124,000 after acquiring an additional 78 shares during the period. Finally, Avior Wealth Management LLC increased its position in shares of Sun Communities by 2.6% in the third quarter. Avior Wealth Management LLC now owns 3,727 shares of the real estate investment trust’s stock valued at $441,000 after acquiring an additional 96 shares during the period. Hedge funds and other institutional investors own 94.79% of the company’s stock.

Sun Communities Stock Down 1.7 %

Shares of NYSE:SUI opened at $127.14 on Monday. The firm has a fifty day moving average price of $130.97 and a two-hundred day moving average price of $124.12. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.65 and a quick ratio of 2.65. Sun Communities has a one year low of $102.74 and a one year high of $162.45. The company has a market cap of $15.82 billion, a price-to-earnings ratio of 69.48, a PEG ratio of 6.86 and a beta of 0.80.

Sun Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date was Thursday, December 28th. Sun Communities’s payout ratio is presently 203.28%.

About Sun Communities

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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 September 30, 2023, the Company owned, operated, or had an interest in a portfolio of 670 developed MH, RV and Marina properties comprising approximately 180,170 developed sites and approximately 48,030 wet slips and dry storage spaces in the U.S., the UK and Canada.

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Analyst Recommendations for Sun Communities (NYSE:SUI)

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