Sun Communities (SUI) Cut to Hold at ValuEngine
ValuEngine cut shares of Sun Communities (NYSE:SUI) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.
SUI has been the topic of a number of other reports. Robert W. Baird reaffirmed a buy rating and issued a $100.00 target price on shares of Sun Communities in a report on Monday, December 11th. BMO Capital Markets set a $97.00 price objective on shares of Sun Communities and gave the company a buy rating in a research note on Wednesday, February 21st. Zacks Investment Research cut shares of Sun Communities from a buy rating to a hold rating in a research note on Thursday, December 28th. Finally, Evercore ISI raised shares of Sun Communities from an in-line rating to an outperform rating and set a $86.00 price objective on the stock in a research note on Monday, December 4th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $95.00.
Sun Communities (NYSE SUI) opened at $88.96 on Wednesday. The company has a market cap of $7,190.00, a price-to-earnings ratio of 104.66, a PEG ratio of 3.07 and a beta of 0.18. Sun Communities has a 1-year low of $78.78 and a 1-year high of $96.08.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 29th will be paid a $0.71 dividend. This is a boost from Sun Communities’s previous quarterly dividend of $0.67. This represents a $2.84 annualized dividend and a yield of 3.19%. The ex-dividend date is Wednesday, March 28th. Sun Communities’s payout ratio is currently 315.29%.
In other Sun Communities news, Director Clunet R. Lewis sold 2,200 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $87.84, for a total value of $193,248.00. Following the transaction, the director now directly owns 19,400 shares of the company’s stock, valued at approximately $1,704,096. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.15% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. State of Alaska Department of Revenue boosted its position in shares of Sun Communities by 7.4% during the 4th quarter. State of Alaska Department of Revenue now owns 54,220 shares of the real estate investment trust’s stock worth $5,029,000 after purchasing an additional 3,750 shares in the last quarter. Swiss National Bank boosted its position in shares of Sun Communities by 3.1% during the 4th quarter. Swiss National Bank now owns 134,531 shares of the real estate investment trust’s stock worth $12,482,000 after purchasing an additional 4,000 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in shares of Sun Communities by 10.6% during the 3rd quarter. Great West Life Assurance Co. Can now owns 46,913 shares of the real estate investment trust’s stock worth $4,007,000 after purchasing an additional 4,513 shares in the last quarter. Picton Mahoney Asset Management purchased a new stake in shares of Sun Communities during the 3rd quarter worth $14,651,000. Finally, SG Americas Securities LLC boosted its position in shares of Sun Communities by 55.1% during the 3rd quarter. SG Americas Securities LLC now owns 7,479 shares of the real estate investment trust’s stock worth $641,000 after purchasing an additional 2,657 shares in the last quarter. Institutional investors own 94.13% 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).
To view ValuEngine’s full report, visit ValuEngine’s official website.
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