Sun Communities, Inc. (NYSE:SUI) Stock Has Average Target Price of $137.05

Sun Communities, Inc. (NYSE:SUI) has received a consensus rating of “Moderate Buy” from the seventeen research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, nine have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $137.05.

SUI has been the subject of several analyst reports. UBS Group restated a “neutral” rating on shares of Sun Communities in a report on Tuesday. Evercore set a $136.00 price target on shares of Sun Communities in a research report on Monday, September 21st. Barclays decreased their target price on Sun Communities from $147.00 to $143.00 and set an “overweight” rating for the company in a research report on Wednesday, October 14th. Mizuho dropped their price target on Sun Communities from $137.00 to $136.00 and set an “outperform” rating on the stock in a research note on Monday, September 21st. Finally, Wall Street Zen lowered shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st.

Sun Communities Price Performance

NYSE SUI opened at $115.03 on Friday. Sun Communities has a 1-year low of $109.77 and a 1-year high of $137.85. The stock has a 50-day moving average of $116.75 and a 200-day moving average of $123.67.

Sun Communities (NYSE:SUI) last announced its quarterly earnings results on Monday, July 27th. The real estate investment trust reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.08. The business had revenue of $484.60 million for the quarter, compared to analysts’ expectations of $623.40 million. During the same quarter in the prior year, the firm earned $1.76 EPS. As a group, equities research analysts forecast that Sun Communities will post 7.03 earnings per share for the current year.

Sun Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Wednesday, September 30th.

Institutional Investors Weigh In On Sun Communities

Several large investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Sun Communities in the 2nd quarter worth about $1,649,715,000. Dimensional Fund Advisors LP grew its stake in Sun Communities by 2.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,812,301 shares of the real estate investment trust’s stock worth $228,280,000 after purchasing an additional 51,588 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Sun Communities by 2.1% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,536,249 shares of the real estate investment trust’s stock valued at $184,212,000 after buying an additional 31,497 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of Sun Communities during the second quarter valued at approximately $156,841,000. Finally, Legal & General Group Plc bought a new stake in Sun Communities during the 2nd quarter valued at $122,737,000. Institutional investors own 99.59% of the company’s stock.

Sun Communities Company Profile

Sun Communities, Inc (NYSE:SUI) is a real estate investment trust that owns, operates and develops manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company provides residential sites for manufactured homes, seasonal and long-term RV accommodations, and marina facilities that include boat slips and related storage services.

Sun Communities also offers vacation accommodations and amenities such as swimming pools, clubhouses, recreational facilities and community services.