Sun Communities, Inc. (NYSE:SUI) Given Consensus Rating of “Hold” by Analysts

Shares of Sun Communities, Inc. (NYSE:SUI) have been assigned a consensus recommendation of “Hold” from the fourteen ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $137.4615.

SUI has been the topic of a number of recent analyst reports. Royal Bank Of Canada raised their target price on shares of Sun Communities from $142.00 to $143.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. UBS Group raised their price objective on shares of Sun Communities from $126.00 to $127.00 and gave the company a “neutral” rating in a research report on Thursday, January 8th. Wells Fargo & Company upped their target price on shares of Sun Communities from $132.00 to $133.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. Robert W. Baird increased their target price on Sun Communities from $134.00 to $136.00 and gave the company a “neutral” rating in a research note on Wednesday, November 19th. Finally, Truist Financial lifted their price target on Sun Communities from $141.00 to $142.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th.

Insider Activity at Sun Communities

In other news, Director Gary A. Shiffman sold 156,875 shares of the company’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $123.53, for a total value of $19,378,768.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.77% of the company’s stock.

Institutional Trading of Sun Communities

Several institutional investors have recently added to or reduced their stakes in SUI. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Sun Communities by 1,226.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 199 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 184 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in Sun Communities in the third quarter valued at approximately $27,000. Fulcrum Asset Management LLP purchased a new stake in shares of Sun Communities during the third quarter valued at approximately $27,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Sun Communities during the second quarter valued at approximately $30,000. Finally, Global X Japan Co. Ltd. bought a new position in shares of Sun Communities in the fourth quarter worth approximately $33,000. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Sun Communities Price Performance

Shares of NYSE SUI opened at $130.85 on Tuesday. The stock’s 50-day simple moving average is $125.91 and its two-hundred day simple moving average is $126.21. Sun Communities has a twelve month low of $109.22 and a twelve month high of $137.77. The firm has a market capitalization of $16.18 billion, a P/E ratio of 16.40, a P/E/G ratio of 4.31 and a beta of 0.90. The company has a quick ratio of 6.01, a current ratio of 6.01 and a debt-to-equity ratio of 0.58.

Sun Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Wednesday, December 31st were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Wednesday, December 31st. Sun Communities’s dividend payout ratio (DPR) is presently 52.13%.

About Sun Communities

Sun Communities, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company’s portfolio spans more than 500 manufactured housing communities and over 160 RV resorts, offering affordable, long-term housing as well as short-stay recreational lodging. Through professional on-site management and amenity-rich community designs, Sun Communities serves a diverse customer base that includes retirees, workforce families and vacationers.

Founded in 1975 and headquartered in Southfield, Michigan, Sun Communities has grown organically and through strategic acquisitions to become one of the largest operators in its sector.