Sun Communities’ (SUI) “Hold (C)” Rating Reiterated at Weiss Ratings

Weiss Ratings reissued their hold (c) rating on shares of Sun Communities (NYSE:SUI) in a report released on Friday morning,Weiss Ratings reports.

A number of other research firms have also commented on SUI. Evercore ISI raised their price target on Sun Communities from $136.00 to $138.00 and gave the stock an “in-line” rating in a report on Monday, September 15th. Robert W. Baird increased their price objective on Sun Communities from $126.00 to $134.00 and gave the stock a “neutral” rating in a report on Monday, August 11th. Jefferies Financial Group raised Sun Communities to a “strong-buy” rating in a report on Monday, October 20th. Morgan Stanley set a $142.00 price target on shares of Sun Communities in a report on Thursday, September 4th. Finally, Wall Street Zen upgraded shares of Sun Communities from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Sun Communities presently has an average rating of “Hold” and an average price target of $137.86.

Sun Communities Price Performance

SUI opened at $124.03 on Friday. The firm has a 50-day moving average price of $126.81 and a 200-day moving average price of $125.24. Sun Communities has a twelve month low of $109.22 and a twelve month high of $138.73. The company has a quick ratio of 7.08, a current ratio of 7.08 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $15.52 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 6.37 and a beta of 0.86.

Sun Communities (NYSE:SUI) last announced its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.09. The company had revenue of $623.50 million for the quarter, compared to analysts’ expectations of $614.79 million. Sun Communities had a net margin of 48.86% and a negative return on equity of 0.60%. During the same period in the prior year, the company posted $1.86 EPS. Sun Communities has set its FY 2025 guidance at 6.510-6.670 EPS. Q3 2025 guidance at 2.130-2.230 EPS. Equities analysts expect 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 Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Tuesday, September 30th. Sun Communities’s dividend payout ratio (DPR) is 40.70%.

Institutional Investors Weigh In On Sun Communities

Institutional investors and hedge funds have recently bought and sold shares of the stock. Meeder Asset Management Inc. lifted its position in Sun Communities by 69,662.5% during the third quarter. Meeder Asset Management Inc. now owns 78,134 shares of the real estate investment trust’s stock valued at $10,079,000 after purchasing an additional 78,022 shares during the last quarter. Warwick Investment Management Inc. bought a new position in shares of Sun Communities in the 3rd quarter worth $320,000. Bayforest Capital Ltd purchased a new stake in shares of Sun Communities during the 3rd quarter valued at $767,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Sun Communities by 1.8% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 39,234 shares of the real estate investment trust’s stock worth $5,061,000 after acquiring an additional 675 shares during the last quarter. Finally, Lecap Asset Management Ltd. purchased a new position in Sun Communities in the third quarter worth $660,000. 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.