Sun Communities, Inc. (NYSE:SUI) Receives Consensus Rating of “Moderate Buy” from Analysts

Sun Communities, Inc. (NYSE:SUI) has been given an average rating of “Moderate Buy” by the ten ratings firms that are covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $141.17.

A number of equities analysts have recently commented on the stock. Barclays reduced their price objective 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 assumed coverage on shares of Sun Communities in a report on Tuesday, January 30th. They set a “hold” rating and a $129.00 price objective for the company. Truist Financial reduced their price objective on shares of Sun Communities from $143.00 to $136.00 and set a “hold” rating for the company in a report on Monday, March 18th. 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. Finally, Compass Point lifted their price target on shares of Sun Communities from $116.00 to $125.00 and gave the company a “neutral” rating in a report on Thursday, March 21st.

Insider Buying and Selling at Sun Communities

In other Sun Communities news, CEO Baxter Underwood sold 4,000 shares of the firm’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 sale, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Sun Communities news, Director Craig Leupold sold 2,500 shares of the firm’s stock in a transaction dated 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 accessible through this hyperlink. Also, CEO Baxter Underwood sold 4,000 shares of Sun Communities stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $131.48, for a total transaction of $525,920.00. Following the sale, the chief executive officer now owns 66,852 shares of the company’s stock, valued at approximately $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. 1.89% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sun Communities

Institutional investors have recently modified their holdings of the business. Eagle Bay Advisors LLC acquired a new stake in shares of Sun Communities during the 2nd quarter worth approximately $27,000. Lindbrook Capital LLC grew its position in shares of Sun Communities by 120.2% during the 3rd quarter. Lindbrook Capital LLC now owns 229 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 125 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of Sun Communities during the 4th quarter worth approximately $32,000. Quest Partners LLC acquired a new stake in shares of Sun Communities during the 4th quarter worth approximately $51,000. Finally, Spire Wealth Management grew its position in shares of Sun Communities by 102.2% during the 3rd quarter. Spire Wealth Management now owns 465 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 235 shares during the period. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Price Performance

NYSE:SUI opened at $118.38 on Friday. The company has a 50-day moving average of $128.19 and a 200-day moving average of $125.09. The company has a market capitalization of $14.75 billion, a price-to-earnings ratio of 103.84, a PEG ratio of 7.71 and a beta of 0.80. Sun Communities has a 52 week low of $102.74 and a 52 week high of $141.52. 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 Increases Dividend

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

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.