Sun Communities, Inc. (NYSE:SUI) Receives Consensus Recommendation of "Moderate Buy" from Analysts (2024)

Sun Communities, Inc. (NYSE:SUI - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the eleven research firms that are currently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $136.27.

Several brokerages recently issued reports on SUI. Truist Financial decreased their target price on Sun Communities from $143.00 to $136.00 and set a "hold" rating on the stock in a research note on Monday, March 18th. Evercore ISI lowered their target price on shares of Sun Communities from $145.00 to $128.00 and set an "outperform" rating on the stock in a report on Wednesday, May 1st. Compass Point upped their target price on shares of Sun Communities from $116.00 to $125.00 and gave the stock a "neutral" rating in a research report on Thursday, March 21st. Royal Bank of Canada reduced their price target on shares of Sun Communities from $142.00 to $130.00 and set an "outperform" rating on the stock in a report on Wednesday, May 1st. Finally, JMP Securities reissued a "market outperform" rating and set a $150.00 price objective on shares of Sun Communities in a report on Thursday, May 2nd.

Get Our Latest Stock Report on SUI

Sun Communities Price Performance

NYSE:SUI opened at $118.34 on Thursday. The business's 50-day simple moving average is $117.65 and its two-hundred day simple moving average is $125.37. Sun Communities has a 52 week low of $102.74 and a 52 week high of $141.52. The stock has a market cap of $14.75 billion, a PE ratio of 102.02, a P/E/G ratio of 1.05 and a beta of 0.87. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 1.08.

Sun Communities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $0.94 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.76 annualized dividend and a yield of 3.18%. Sun Communities's dividend payout ratio is currently 324.14%.

Institutional Investors Weigh In On Sun Communities

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SUI. Evoke Wealth LLC purchased a new stake in Sun Communities during the 4th quarter valued at $5,594,000. Clearbridge Investments LLC lifted its holdings in shares of Sun Communities by 12.3% in the 4th quarter. Clearbridge Investments LLC now owns 304,180 shares of the real estate investment trust's stock worth $40,654,000 after acquiring an additional 33,382 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Sun Communities by 5.3% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 673,215 shares of the real estate investment trust's stock worth $89,975,000 after purchasing an additional 33,795 shares during the period. Strs Ohio grew its holdings in Sun Communities by 8.6% during the 4th quarter. Strs Ohio now owns 301,096 shares of the real estate investment trust's stock valued at $40,241,000 after purchasing an additional 23,792 shares during the last quarter. Finally, abrdn plc raised its position in Sun Communities by 33.8% in the 4th quarter. abrdn plc now owns 76,538 shares of the real estate investment trust's stock worth $10,229,000 after purchasing an additional 19,314 shares during the period. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Sun Communities Company Profile

(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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