Sun Communities (NYSE:SUI) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Sun Communities (NYSE:SUI) from a sell rating to a hold rating in a research note published on Thursday.

Several other equities research analysts have also recently issued reports on SUI. Truist Financial raised their price target on shares of Sun Communities from $127.00 to $138.00 and gave the stock a hold rating in a research note on Tuesday, August 13th. Evercore ISI cut shares of Sun Communities from an outperform rating to an inline rating and raised their price target for the stock from $144.00 to $149.00 in a research note on Monday, September 16th. Wells Fargo & Company raised their price target on shares of Sun Communities from $123.00 to $154.00 and gave the stock an equal weight rating in a research note on Thursday, September 19th. Robert W. Baird raised their price target on shares of Sun Communities from $144.00 to $145.00 and gave the stock an outperform rating in a research note on Tuesday, September 3rd. Finally, Royal Bank of Canada raised their price target on shares of Sun Communities from $131.00 to $137.00 and gave the stock an outperform rating in a research note on Friday, August 2nd. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $142.20.

Sun Communities Price Performance

Shares of NYSE SUI opened at $129.80 on Thursday. The stock has a market cap of $16.18 billion, a price-to-earnings ratio of 111.90, a PEG ratio of 0.94 and a beta of 0.91. Sun Communities has a 52 week low of $102.74 and a 52 week high of $147.83. The company’s 50-day moving average price is $134.84 and its 200 day moving average price is $125.42. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.09.

Sun Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.76 annualized dividend and a yield of 2.90%. Sun Communities’s payout ratio is 324.14%.

Insider Activity at Sun Communities

In related news, CEO Baxter Underwood sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $131.43, for a total value of $394,290.00. Following the transaction, the chief executive officer now owns 63,462 shares in the company, valued at approximately $8,340,810.66. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.89% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SUI. Bristlecone Advisors LLC boosted its holdings in Sun Communities by 2.4% in the second quarter. Bristlecone Advisors LLC now owns 3,655 shares of the real estate investment trust’s stock worth $440,000 after purchasing an additional 85 shares during the period. Toronto Dominion Bank boosted its holdings in Sun Communities by 0.8% in the second quarter. Toronto Dominion Bank now owns 11,916 shares of the real estate investment trust’s stock worth $1,434,000 after purchasing an additional 98 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Sun Communities by 15.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 762 shares of the real estate investment trust’s stock worth $92,000 after purchasing an additional 102 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in Sun Communities by 1.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 7,034 shares of the real estate investment trust’s stock worth $846,000 after purchasing an additional 115 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in Sun Communities by 2.8% in the second quarter. Fifth Third Bancorp now owns 5,179 shares of the real estate investment trust’s stock worth $623,000 after purchasing an additional 142 shares during the period. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Sun Communities Company Profile

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.