JMP Securities Reaffirms Market Outperform Rating for Sun Communities (NYSE:SUI)

JMP Securities reaffirmed their market outperform rating on shares of Sun Communities (NYSE:SUI) in a research note released on Tuesday morning, Benzinga reports. JMP Securities currently has a $150.00 price objective on the real estate investment trust’s stock.

Several other research analysts also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Sun Communities in a research report on Tuesday, January 30th. They issued a hold rating and a $129.00 price target on the stock. BMO Capital Markets reduced their price objective on shares of Sun Communities from $143.00 to $140.00 and set an outperform rating for the company in a research note on Monday, January 22nd. Truist Financial reduced their price objective on shares of Sun Communities from $143.00 to $136.00 and set a hold rating for the company in a research note on Monday, March 18th. Compass Point increased their price objective on shares of Sun Communities from $116.00 to $125.00 and gave the stock a neutral rating in a research note on Thursday, March 21st. Finally, Barclays reduced their price objective on shares of Sun Communities from $157.00 to $155.00 and set an overweight rating for the company in a research note on Friday, January 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus target price of $141.17.

Sun Communities Stock Down 1.1 %

SUI opened at $118.92 on Tuesday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.05. Sun Communities has a 1-year low of $102.74 and a 1-year high of $141.52. The company has a market capitalization of $14.82 billion, a PE ratio of 104.32, a PEG ratio of 1.08 and a beta of 0.80. The firm’s 50 day simple moving average is $127.32 and its two-hundred day simple moving average is $125.16.

Sun Communities Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 3.16%. This is a boost from Sun Communities’s previous quarterly dividend of $0.93. The ex-dividend date was Wednesday, March 27th. Sun Communities’s dividend payout ratio (DPR) is presently 329.83%.

Insider Activity at Sun Communities

In related news, CEO Baxter Underwood sold 4,000 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $131.48, for a total transaction of $525,920.00. Following the completion of the transaction, the chief executive officer now directly owns 66,852 shares of the company’s stock, valued at $8,789,700.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Baxter Underwood sold 4,000 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $131.48, for a total transaction of $525,920.00. Following the completion of the transaction, the chief executive officer now directly owns 66,852 shares of the company’s stock, valued at $8,789,700.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Craig Leupold sold 2,500 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $128.39, for a total transaction of $320,975.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,000 shares of company stock valued at $912,460. Corporate insiders own 1.89% of the company’s stock.

Hedge Funds Weigh In On Sun Communities

Institutional investors have recently bought and sold shares of the business. Farmers & Merchants Investments Inc. bought a new position in Sun Communities during the first quarter valued at $26,000. Lindbrook Capital LLC lifted its position in Sun Communities by 120.2% during the third quarter. Lindbrook Capital LLC now owns 229 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 125 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Sun Communities during the fourth quarter valued at $32,000. CKW Financial Group bought a new position in Sun Communities during the first quarter valued at $38,000. Finally, Quest Partners LLC bought a new position in Sun Communities during the fourth quarter valued at $51,000. Institutional investors own 99.59% of the company’s stock.

About Sun Communities

Established in 1975, Sun Communities, Inc became a publicly owned corporation in December 1993. The Company is a fully integrated REIT listed on the New York Stock Exchange under the symbol: SUI. As of December 31, 2023, the Company owned, operated, or had an interest in a portfolio of 667 developed MH, RV and Marina properties comprising 179,310 developed sites and approximately 48,030 wet slips and dry storage spaces in the U.S., the UK and Canada.