Sun Communities (NYSE:SUI) Shares Up 1.8%

Sun Communities, Inc. (NYSE:SUIGet Rating) shares shot up 1.8% during trading on Friday . The stock traded as high as $147.71 and last traded at $147.71. 6,267 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 647,916 shares. The stock had previously closed at $145.14.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. JMP Securities decreased their price target on shares of Sun Communities from $220.00 to $200.00 and set a “market outperform” rating for the company in a report on Thursday, July 28th. Truist Financial raised their price objective on shares of Sun Communities from $185.00 to $193.00 in a research report on Wednesday, August 17th. Evercore ISI cut their price objective on shares of Sun Communities from $170.00 to $166.00 and set an “outperform” rating on the stock in a research report on Monday. BMO Capital Markets dropped their price target on shares of Sun Communities from $202.00 to $185.00 and set a “buy” rating on the stock in a research report on Friday, July 1st. Finally, Wolfe Research began coverage on shares of Sun Communities in a research report on Friday, July 15th. They issued a “peer perform” rating on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.25.

Sun Communities Price Performance

The firm has a market capitalization of $18.04 billion, a P/E ratio of 53.16, a PEG ratio of 2.38 and a beta of 0.62. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.89. The stock has a fifty day moving average of $159.87 and a 200-day moving average of $165.73.

Sun Communities (NYSE:SUIGet Rating) last announced its quarterly earnings results on Monday, July 25th. The real estate investment trust reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.19). Sun Communities had a net margin of 12.33% and a return on equity of 4.42%. During the same period in the prior year, the firm earned $1.80 earnings per share. Equities analysts predict that Sun Communities, Inc. will post 7.22 EPS for the current fiscal year.

Sun Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a $0.88 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $3.52 annualized dividend and a dividend yield of 2.41%. Sun Communities’s dividend payout ratio is presently 128.94%.

Insider Activity at Sun Communities

In other Sun Communities news, EVP Bruce Thelen sold 6,892 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $165.40, for a total transaction of $1,139,936.80. Following the completion of the transaction, the executive vice president now owns 25,120 shares of the company’s stock, valued at approximately $4,154,848. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.25% of the stock is owned by insiders.

Institutional Investors Weigh In On Sun Communities

Large investors have recently added to or reduced their stakes in the business. Riverview Trust Co bought a new stake in Sun Communities in the 1st quarter valued at $28,000. Trust Co. of Vermont acquired a new stake in shares of Sun Communities during the 2nd quarter worth $26,000. Eagle Bay Advisors LLC acquired a new stake in shares of Sun Communities during the 2nd quarter worth $27,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Sun Communities during the 2nd quarter worth $36,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Sun Communities during the 1st quarter worth $41,000. Institutional investors own 94.26% of the company’s stock.

Sun Communities Company Profile

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Sun Communities, Inc is a REIT that, as of March 31, 2022, owned, operated, or had an interest in a portfolio of 603 developed MH, RV and marina properties comprising nearly 159,300 developed sites and over 45,700 wet slips and dry storage spaces in 39 states, Canada, Puerto Rico and the UK.

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