Robert W. Baird Issues Pessimistic Forecast for Sun Communities (NYSE:SUI) Stock Price

Sun Communities (NYSE:SUI) had its price target reduced by Robert W. Baird from $128.00 to $126.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

Several other research analysts also recently weighed in on the company. JMP Securities reiterated a “market outperform” rating and set a $140.00 price target (down previously from $150.00) on shares of Sun Communities in a research note on Monday, April 21st. Jefferies Financial Group initiated coverage on shares of Sun Communities in a research report on Tuesday, April 8th. They set a “buy” rating and a $150.00 target price for the company. Truist Financial lowered their price target on shares of Sun Communities from $142.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Finally, Royal Bank of Canada reduced their price objective on shares of Sun Communities from $154.00 to $147.00 and set an “outperform” rating for the company in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Sun Communities has an average rating of “Hold” and a consensus target price of $136.90.

Sun Communities Stock Performance

NYSE SUI opened at $125.53 on Thursday. The company has a market capitalization of $16.02 billion, a PE ratio of 67.49 and a beta of 0.86. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. Sun Communities has a 52-week low of $109.22 and a 52-week high of $147.83. The company has a 50-day simple moving average of $126.09 and a 200 day simple moving average of $126.35.

Sun Communities (NYSE:SUI) last posted its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.08. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The company had revenue of $470.20 million for the quarter, compared to analysts’ expectations of $538.63 million. During the same quarter in the previous year, the firm posted $1.19 EPS. Sun Communities’s revenue was up .2% on a year-over-year basis. On average, research analysts predict that Sun Communities will post 6.77 EPS for the current year.

Sun Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.00%. Sun Communities’s dividend payout ratio (DPR) is presently 606.45%.

Institutional Investors Weigh In On Sun Communities

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Opal Wealth Advisors LLC bought a new position in shares of Sun Communities in the 1st quarter worth $29,000. Aster Capital Management DIFC Ltd raised its position in Sun Communities by 263.6% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 232 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Sun Communities by 45.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 124 shares during the last quarter. CKW Financial Group boosted its holdings in shares of Sun Communities by 45.0% in the 4th quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 135 shares in the last quarter. Finally, Parallel Advisors LLC increased its position in shares of Sun Communities by 66.4% during the 1st quarter. Parallel Advisors LLC now owns 476 shares of the real estate investment trust’s stock valued at $61,000 after purchasing an additional 190 shares during the last quarter. 99.59% of the stock is owned by hedge funds and other institutional investors.

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.