Sun Communities, Inc. (NYSE:SUI) Receives $137.46 Average PT from Analysts

Sun Communities, Inc. (NYSE:SUI) has received an average recommendation of “Hold” from the fourteen brokerages that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $137.4615.

SUI has been the topic of a number of recent research reports. Robert W. Baird upped their price objective on Sun Communities from $134.00 to $136.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 19th. Wells Fargo & Company upped their price target on Sun Communities from $132.00 to $133.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Jefferies Financial Group set a $142.00 price objective on shares of Sun Communities and gave the stock a “buy” rating in a report on Monday, November 3rd. Truist Financial lifted their price target on shares of Sun Communities from $141.00 to $142.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Finally, UBS Group upped their price objective on shares of Sun Communities from $126.00 to $127.00 and gave the company a “neutral” rating in a research note on Thursday, January 8th.

Insider Transactions at Sun Communities

In other news, Director Gary A. Shiffman sold 156,875 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $123.53, for a total value of $19,378,768.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.77% of the company’s stock.

Hedge Funds Weigh In On Sun Communities

Several institutional investors have recently bought and sold shares of SUI. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Sun Communities by 1,226.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 199 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 184 shares in the last quarter. Fulcrum Asset Management LLP acquired a new position in shares of Sun Communities during the 3rd quarter worth $27,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Sun Communities in the 3rd quarter worth about $27,000. Elevation Point Wealth Partners LLC acquired a new stake in Sun Communities in the 2nd quarter valued at about $30,000. Finally, MAI Capital Management grew its stake in Sun Communities by 164.4% in the 2nd quarter. MAI Capital Management now owns 267 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 166 shares during the last quarter. 99.59% of the stock is owned by institutional investors and hedge funds.

Sun Communities Trading Down 0.5%

SUI opened at $129.37 on Tuesday. Sun Communities has a 52 week low of $109.22 and a 52 week high of $137.77. The company has a quick ratio of 6.01, a current ratio of 6.01 and a debt-to-equity ratio of 0.58. The business has a fifty day simple moving average of $125.74 and a 200-day simple moving average of $126.18. The firm has a market cap of $16.00 billion, a P/E ratio of 16.21, a P/E/G ratio of 4.28 and a beta of 0.90.

Sun Communities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Wednesday, December 31st were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $4.16 annualized dividend and a yield of 3.2%. Sun Communities’s payout ratio is 52.13%.

About Sun Communities

Sun Communities, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company’s portfolio spans more than 500 manufactured housing communities and over 160 RV resorts, offering affordable, long-term housing as well as short-stay recreational lodging. Through professional on-site management and amenity-rich community designs, Sun Communities serves a diverse customer base that includes retirees, workforce families and vacationers.

Founded in 1975 and headquartered in Southfield, Michigan, Sun Communities has grown organically and through strategic acquisitions to become one of the largest operators in its sector.