Analysts Set Sun Communities, Inc. (NYSE:SUI) Price Target at $87.80
Sun Communities, Inc. (NYSE:SUI) has received a consensus rating of “Hold” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $87.80.
A number of equities analysts have issued reports on SUI shares. Zacks Investment Research cut shares of Sun Communities from a “buy” rating to a “hold” rating in a research report on Tuesday, May 30th. Bank of America Corporation upgraded shares of Sun Communities from an “underperform” rating to a “buy” rating and set a $93.00 price objective on the stock in a research report on Monday, May 22nd. Royal Bank Of Canada started coverage on shares of Sun Communities in a research report on Thursday, June 1st. They issued an “outperform” rating and a $92.00 price objective on the stock. Finally, BidaskClub cut shares of Sun Communities from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th.
Shares of Sun Communities (NYSE:SUI) traded down 0.27% during mid-day trading on Friday, reaching $87.89. The company’s stock had a trading volume of 347,845 shares. The company’s 50-day moving average is $88.54 and its 200 day moving average is $83.99. The firm has a market cap of $6.94 billion, a price-to-earnings ratio of 125.74 and a beta of 0.28. Sun Communities has a 12 month low of $69.90 and a 12 month high of $91.37.
Sun Communities (NYSE:SUI) last posted its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.19 by $0.03. Sun Communities had a return on equity of 2.59% and a net margin of 6.82%. The business had revenue of $237.90 million during the quarter, compared to the consensus estimate of $210.58 million. During the same period in the prior year, the firm earned $0.85 earnings per share. The business’s revenue for the quarter was up 24.7% on a year-over-year basis. On average, equities analysts anticipate that Sun Communities will post $0.99 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date was Wednesday, June 28th. Sun Communities’s payout ratio is 382.86%.
In other Sun Communities news, COO John Bandini Mclaren sold 5,400 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $88.43, for a total value of $477,522.00. Following the transaction, the chief operating officer now owns 153,159 shares in the company, valued at $13,543,850.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.15% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in SUI. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Sun Communities by 19.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,323 shares of the real estate investment trust’s stock valued at $467,000 after buying an additional 861 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Sun Communities by 20.6% in the second quarter. Pacer Advisors Inc. now owns 14,471 shares of the real estate investment trust’s stock valued at $1,269,000 after buying an additional 2,475 shares in the last quarter. Utah Retirement Systems boosted its position in shares of Sun Communities by 5.7% in the second quarter. Utah Retirement Systems now owns 15,098 shares of the real estate investment trust’s stock valued at $1,324,000 after buying an additional 811 shares in the last quarter. Usca Ria LLC boosted its position in shares of Sun Communities by 2.4% in the second quarter. Usca Ria LLC now owns 8,657 shares of the real estate investment trust’s stock valued at $759,000 after buying an additional 200 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Sun Communities by 4.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 66,814 shares of the real estate investment trust’s stock valued at $5,859,000 after buying an additional 2,869 shares in the last quarter. Institutional investors own 88.40% of the company’s stock.
Sun Communities Company Profile
Sun Communities, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company is a fully integrated real estate company, which, together with its affiliates and predecessors, has been in the business of acquiring, operating, developing, and expanding manufactured housing (MH) and recreational vehicle (RV).
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