Sun Communities (NYSE:SUI) Given a $194.00 Price Target by Evercore ISI Analysts

Evercore ISI set a $194.00 price target on Sun Communities (NYSE:SUI – Get Rating) in a report released on Monday, Stock Target Advisor reports.

Other research analysts also recently issued research reports about the stock. Barclays cut their target price on shares of Sun Communities from $236.00 to $230.00 and set an overweight rating on the stock in a research report on Thursday, April 14th. JMP Securities assumed coverage on shares of Sun Communities in a research report on Wednesday, April 20th. They set an outperform rating and a $220.00 target price on the stock. StockNews.com downgraded shares of Sun Communities from a hold rating to a sell rating in a research report on Thursday, May 5th. Truist Financial assumed coverage on shares of Sun Communities in a research report on Tuesday, May 10th. They set a buy rating and a $185.00 target price on the stock. Finally, Robert W. Baird cut their target price on shares of Sun Communities from $210.00 to $205.00 in a research report on Wednesday, March 30th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $213.63.

Shares of SUI opened at $161.17 on Monday. Sun Communities has a 1-year low of $148.64 and a 1-year high of $211.79. The company has a 50-day moving average of $165.59 and a 200 day moving average of $180.90. The firm has a market capitalization of $19.60 billion, a price-to-earnings ratio of 51.99, a PEG ratio of 2.41 and a beta of 0.64. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.40 and a quick ratio of 3.40.

Sun Communities (NYSE:SUI – Get Rating) last announced its quarterly earnings data on Monday, April 25th. The real estate investment trust reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). Sun Communities had a net margin of 14.97% and a return on equity of 5.09%. During the same quarter in the prior year, the business posted $1.26 EPS. On average, equities analysts anticipate that Sun Communities will post 7.3 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Wednesday, June 29th. Sun Communities’s payout ratio is currently 113.55%.

In related news, Director Clunet R. Lewis sold 4,400 shares of Sun Communities stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $153.39, for a total value of $674,916.00. Following the completion of the sale, the director now directly owns 26,400 shares in the company, valued at approximately $4,049,496. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John Bandini Mclaren sold 11,500 shares of Sun Communities stock in a transaction that occurred on Thursday, April 28th. The stock was sold at an average price of $180.27, for a total transaction of $2,073,105.00. Following the completion of the sale, the chief operating officer now owns 148,691 shares of the company’s stock, valued at $26,804,526.57. The disclosure for this sale can be found here. 2.25% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Moors & Cabot Inc. acquired a new position in shares of Sun Communities in the 3rd quarter valued at $26,000. Riverview Trust Co purchased a new stake in shares of Sun Communities during the first quarter worth $28,000. Meeder Asset Management Inc. purchased a new stake in shares of Sun Communities during the first quarter worth $41,000. Andrew Hill Investment Advisors Inc. purchased a new stake in shares of Sun Communities during the fourth quarter worth $45,000. Finally, Spire Wealth Management grew its holdings in shares of Sun Communities by 658.3% during the fourth quarter. Spire Wealth Management now owns 273 shares of the real estate investment trust’s stock worth $57,000 after buying an additional 237 shares in the last quarter.

About Sun Communities (Get Rating)

Sun Communities, Inc is a REIT that, as of September 30, 2020, owned, operated, or had an interest in a portfolio of 432 communities comprising nearly 146,000 developed sites in 32 states and Ontario, Canada.

Further Reading