JMP Securities Reiterates Market Outperform Rating for Sun Communities (NYSE:SUI)

JMP Securities reaffirmed their market outperform rating on shares of Sun Communities (NYSE:SUI) in a research report sent to investors on Tuesday morning, Benzinga reports. JMP Securities currently has a $150.00 price target on the real estate investment trust’s stock.

SUI has been the topic of a number of other reports. Compass Point lifted their price objective on shares of Sun Communities from $116.00 to $125.00 and gave the company a neutral rating in a research note on Thursday, March 21st. BMO Capital Markets decreased their price objective on shares of Sun Communities from $143.00 to $140.00 and set an outperform rating on the stock in a research note on Monday, January 22nd. Truist Financial decreased their price objective on shares of Sun Communities from $143.00 to $136.00 and set a hold rating on the stock in a research note on Monday, March 18th. Barclays decreased their price objective on shares of Sun Communities from $157.00 to $155.00 and set an overweight rating on the stock in a research note on Friday, January 26th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Sun Communities in a research report on Tuesday, January 30th. They issued a hold rating and a $129.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Sun Communities currently has a consensus rating of Hold and a consensus price target of $141.17.

Sun Communities Stock Up 0.1 %

Shares of SUI opened at $119.08 on Tuesday. Sun Communities has a 12 month low of $102.74 and a 12 month high of $141.52. The firm’s 50 day moving average is $127.11 and its 200-day moving average is $125.17. The stock has a market capitalization of $14.84 billion, a PE ratio of 104.46, a P/E/G ratio of 1.08 and a beta of 0.80. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.05.

Sun Communities Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date was Wednesday, March 27th. This is a positive change from Sun Communities’s previous quarterly dividend of $0.93. Sun Communities’s payout ratio is 329.83%.

Insider Transactions at Sun Communities

In other news, Director Clunet R. Lewis sold 500 shares of Sun Communities stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $131.13, for a total transaction of $65,565.00. Following the transaction, the director now owns 28,400 shares in the company, valued at $3,724,092. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Clunet R. Lewis sold 500 shares of Sun Communities stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $131.13, for a total transaction of $65,565.00. Following the transaction, the director now owns 28,400 shares in the company, valued at $3,724,092. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Craig Leupold sold 2,500 shares of Sun Communities stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $128.39, for a total transaction of $320,975.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,000 shares of company stock worth $912,460. Company insiders own 1.89% of the company’s stock.

Hedge Funds Weigh In On Sun Communities

A number of hedge funds have recently bought and sold shares of the company. Yousif Capital Management LLC raised its stake in Sun Communities by 2.9% during the first quarter. Yousif Capital Management LLC now owns 6,417 shares of the real estate investment trust’s stock worth $825,000 after buying an additional 181 shares during the last quarter. ZWJ Investment Counsel Inc. raised its stake in Sun Communities by 5.9% during the first quarter. ZWJ Investment Counsel Inc. now owns 2,017 shares of the real estate investment trust’s stock worth $259,000 after buying an additional 112 shares during the last quarter. Osborne Partners Capital Management LLC raised its stake in Sun Communities by 1.7% during the first quarter. Osborne Partners Capital Management LLC now owns 42,022 shares of the real estate investment trust’s stock worth $5,403,000 after buying an additional 688 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in Sun Communities by 0.3% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 29,808 shares of the real estate investment trust’s stock worth $3,833,000 after buying an additional 100 shares during the last quarter. Finally, CKW Financial Group bought a new stake in Sun Communities in the first quarter valued at $38,000. Institutional investors own 99.59% of the company’s stock.

About Sun Communities

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.