Sun Communities, Inc. (NYSE:SUI) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Sun Communities, Inc. (NYSE:SUI) have been assigned a consensus rating of “Moderate Buy” from the sixteen brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $139.3833.

A number of research firms have recently weighed in on SUI. Jefferies Financial Group raised Sun Communities to a “strong-buy” rating in a research note on Wednesday, July 22nd. Barclays lifted their target price on Sun Communities from $146.00 to $147.00 and gave the company an “overweight” rating in a research note on Monday. Odeon Capital Group set a $135.00 price target on Sun Communities in a report on Thursday, July 9th. Mizuho dropped their price target on Sun Communities from $143.00 to $137.00 and set an “outperform” rating for the company in a research note on Tuesday, June 30th. Finally, Morgan Stanley cut their price objective on shares of Sun Communities from $135.00 to $126.00 and set an “equal weight” rating for the company in a report on Wednesday, August 12th.

Insider Buying and Selling at Sun Communities

In other Sun Communities news, EVP Fernando Castro-Caratini sold 23,750 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $124.43, for a total value of $2,955,212.50. Following the sale, the executive vice president owned 9,998 shares in the company, valued at $1,244,051.14. The trade was a 70.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gary A. Shiffman sold 25,031 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $119.96, for a total value of $3,002,718.76. Following the transaction, the director directly owned 857,761 shares of the company’s stock, valued at approximately $102,897,009.56. The trade was a 2.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.58% of the company’s stock.

Hedge Funds Weigh In On Sun Communities

Institutional investors have recently bought and sold shares of the business. Fulcrum Asset Management LLP bought a new position in shares of Sun Communities in the 3rd quarter valued at about $27,000. Wiser Advisor Group LLC bought a new position in Sun Communities during the 3rd quarter valued at about $46,000. Prosperity Bancshares Inc purchased a new stake in Sun Communities in the 4th quarter worth about $48,000. Oslo Pensjonsforsikring AS bought a new stake in Sun Communities in the first quarter worth about $49,000. Finally, V Square Quantitative Management LLC bought a new stake in Sun Communities in the fourth quarter worth about $50,000. Institutional investors own 99.59% of the company’s stock.

Sun Communities Price Performance

NYSE:SUI opened at $121.89 on Tuesday. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.70. The business’s 50-day simple moving average is $121.43 and its two-hundred day simple moving average is $125.97. The stock has a market cap of $14.85 billion, a PE ratio of -17.19, a P/E/G ratio of 3.86 and a beta of 0.78. Sun Communities has a 52 week low of $115.90 and a 52 week high of $137.85.

Sun Communities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $1.12 per share. The ex-dividend date was Tuesday, June 30th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.7%. Sun Communities’s dividend payout ratio is currently -63.19%.

About Sun Communities

Sun Communities, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company’s portfolio spans more than 500 manufactured housing communities and over 160 RV resorts, offering affordable, long-term housing as well as short-stay recreational lodging. Through professional on-site management and amenity-rich community designs, Sun Communities serves a diverse customer base that includes retirees, workforce families and vacationers.

Founded in 1975 and headquartered in Southfield, Michigan, Sun Communities has grown organically and through strategic acquisitions to become one of the largest operators in its sector.