Sun Communities (NYSE:SUI) Price Target Raised to $143.00

Sun Communities (NYSE:SUI) had its price objective increased by Royal Bank Of Canada from $142.00 to $143.00 in a research note released on Thursday morning,Benzinga reports. They currently have an outperform rating on the real estate investment trust’s stock.

A number of other equities research analysts have also recently commented on the stock. Morgan Stanley set a $142.00 price objective on shares of Sun Communities in a research note on Thursday, September 4th. Wells Fargo & Company reduced their price target on shares of Sun Communities from $135.00 to $132.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 27th. Wall Street Zen lowered shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Robert W. Baird raised their price objective on shares of Sun Communities from $126.00 to $134.00 and gave the stock a “neutral” rating in a research note on Monday, August 11th. Finally, Jefferies Financial Group set a $142.00 target price on Sun Communities and gave the company a “buy” rating in a research note on Monday, November 3rd. Five research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $137.23.

Sun Communities Stock Performance

NYSE SUI opened at $126.62 on Thursday. The business has a 50 day moving average price of $126.38 and a 200 day moving average price of $125.41. The company has a market capitalization of $15.66 billion, a P/E ratio of 15.87, a PEG ratio of 4.05 and a beta of 0.86. Sun Communities has a 1-year low of $109.22 and a 1-year high of $137.77. The company has a debt-to-equity ratio of 0.55, a current ratio of 7.08 and a quick ratio of 7.08.

Sun Communities (NYSE:SUI) last posted its earnings results on Wednesday, October 29th. The real estate investment trust reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.18 by $0.10. The company had revenue of $697.20 million for the quarter, compared to the consensus estimate of $713.32 million. Sun Communities had a negative return on equity of 4.51% and a net margin of 42.58%.Sun Communities’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.34 earnings per share. Sun Communities has set its Q4 2025 guidance at 1.310-1.390 EPS. FY 2025 guidance at 6.590-6.670 EPS. Sell-side analysts expect that Sun Communities will post 6.77 EPS for the current fiscal year.

Sun Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, September 30th. Sun Communities’s payout ratio is currently 52.13%.

Institutional Trading of Sun Communities

Several large investors have recently added to or reduced their stakes in the stock. Ontario Teachers Pension Plan Board purchased a new stake in shares of Sun Communities during the 3rd quarter valued at about $1,338,000. First National Bank of Omaha bought a new stake in shares of Sun Communities in the 3rd quarter valued at approximately $2,341,000. NEOS Investment Management LLC raised its holdings in shares of Sun Communities by 101.9% during the third quarter. NEOS Investment Management LLC now owns 11,534 shares of the real estate investment trust’s stock worth $1,488,000 after purchasing an additional 5,821 shares during the period. GSA Capital Partners LLP acquired a new position in Sun Communities in the third quarter valued at approximately $695,000. Finally, Vanguard Group Inc. grew its stake in Sun Communities by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 18,289,956 shares of the real estate investment trust’s stock worth $2,359,404,000 after buying an additional 249,501 shares during the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

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.