Shares of Sun Communities, Inc. (NYSE:SUI - Get Free Report) have received an average recommendation of "Moderate Buy" from the eleven research firms that are presently covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $136.27.
Several equities research analysts recently issued reports on SUI shares. Truist Financial reduced their target price 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. JMP Securities reaffirmed a "market outperform" rating and issued a $150.00 target price on shares of Sun Communities in a report on Thursday, May 2nd. Evercore ISI cut 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. Compass Point boosted their price objective on Sun Communities from $116.00 to $125.00 and gave the company a "neutral" rating in a research report on Thursday, March 21st. Finally, Royal Bank of Canada cut their target price on Sun Communities from $142.00 to $130.00 and set an "outperform" rating for the company in a research report on Wednesday, May 1st.
Get Our Latest Stock Report on SUI
Sun Communities Stock Performance
NYSE SUI traded up $1.73 on Thursday, hitting $120.06. 441,759 shares of the company traded hands, compared to its average volume of 772,442. The business's 50 day moving average price is $117.65 and its 200-day moving average price is $125.37. Sun Communities has a 52-week low of $102.74 and a 52-week high of $141.52. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $14.96 billion, a price-to-earnings ratio of 102.02, a P/E/G ratio of 1.05 and a beta of 0.87.
Sun Communities Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.76 annualized dividend and a yield of 3.13%. Sun Communities's payout ratio is currently 324.14%.
Institutional Trading of Sun Communities
A number of institutional investors have recently bought and sold shares of SUI. Evoke Wealth LLC bought a new position in Sun Communities during the 4th quarter valued at about $5,594,000. Clearbridge Investments LLC boosted its holdings in Sun Communities by 12.3% during the 4th quarter. Clearbridge Investments LLC now owns 304,180 shares of the real estate investment trust's stock valued at $40,654,000 after acquiring an additional 33,382 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in Sun Communities by 5.3% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 673,215 shares of the real estate investment trust's stock valued at $89,975,000 after acquiring an additional 33,795 shares during the last quarter. Strs Ohio lifted its position in shares of Sun Communities by 8.6% during the fourth quarter. Strs Ohio now owns 301,096 shares of the real estate investment trust's stock worth $40,241,000 after purchasing an additional 23,792 shares during the last quarter. Finally, abrdn plc boosted its stake in shares of Sun Communities by 33.8% during the fourth quarter. abrdn plc now owns 76,538 shares of the real estate investment trust's stock valued at $10,229,000 after purchasing an additional 19,314 shares during the period. 99.59% of the stock is currently owned by institutional investors.
About Sun Communities
(Get Free Report
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.
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