Brokerages Set Sun Communities, Inc. (NYSE:SUI) Price Target at $134.55

Shares of Sun Communities, Inc. (NYSE:SUI) have been given an average recommendation of “Hold” by the twelve ratings firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $134.55.

Several research firms recently commented on SUI. Royal Bank of Canada decreased their price target on shares of Sun Communities from $147.00 to $135.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Evercore ISI lifted their target price on shares of Sun Communities from $149.00 to $150.00 and gave the company an “in-line” rating in a research note on Monday, October 21st. Truist Financial upgraded shares of Sun Communities from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Jefferies Financial Group reduced their target price on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Finally, UBS Group cut shares of Sun Communities from a “buy” rating to a “neutral” rating and reduced their target price for the company from $155.00 to $134.00 in a research note on Thursday, November 14th.

Hedge Funds Weigh In On Sun Communities

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. increased its position in Sun Communities by 8.5% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,069 shares of the real estate investment trust’s stock worth $131,000 after acquiring an additional 84 shares during the period. Cascade Investment Advisors Inc. increased its position in Sun Communities by 0.8% during the fourth quarter. Cascade Investment Advisors Inc. now owns 10,373 shares of the real estate investment trust’s stock worth $1,276,000 after acquiring an additional 85 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in Sun Communities by 15.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 762 shares of the real estate investment trust’s stock worth $92,000 after acquiring an additional 102 shares during the period. Cetera Trust Company N.A increased its position in Sun Communities by 6.0% during the fourth quarter. Cetera Trust Company N.A now owns 1,865 shares of the real estate investment trust’s stock worth $229,000 after acquiring an additional 105 shares during the period. Finally, Quadrant Capital Group LLC increased its position in Sun Communities by 17.2% during the fourth quarter. Quadrant Capital Group LLC now owns 837 shares of the real estate investment trust’s stock worth $103,000 after acquiring an additional 123 shares during the period. Institutional investors own 99.59% of the company’s stock.

Sun Communities Stock Performance

SUI stock opened at $126.55 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. The stock has a market cap of $16.12 billion, a P/E ratio of 68.04 and a beta of 0.90. The firm has a 50 day simple moving average of $124.26 and a 200 day simple moving average of $129.66. Sun Communities has a 52 week low of $110.98 and a 52 week high of $147.83.

Sun Communities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend was Tuesday, December 31st. Sun Communities’s dividend payout ratio is 202.15%.

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.