Sun Communities, Inc. (NYSE:SUI) Stock Rated “Moderate Buy” by Wall Street Brokerages

Shares of Sun Communities, Inc. (NYSE:SUI) have received an average recommendation of “Moderate Buy” from the seventeen ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, nine have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $137.05.

SUI has been the topic of a number of analyst reports. Weiss Ratings raised Sun Communities from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, October 23rd. Barclays reduced their price target on Sun Communities from $147.00 to $143.00 and set an “overweight” rating on the stock in a report on Wednesday, October 14th. UBS Group reissued a “neutral” rating on shares of Sun Communities in a research note on Tuesday. Truist Financial cut their target price on shares of Sun Communities from $138.00 to $136.00 and set a “buy” rating on the stock in a research note on Friday, September 11th. Finally, Evercore reaffirmed an “outperform” rating on shares of Sun Communities in a research note on Wednesday.

Hedge Funds Weigh In On Sun Communities

Hedge funds have recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Sun Communities by 99.8% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 912,359 shares of the real estate investment trust’s stock valued at $101,071,000 after buying an additional 455,613 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Sun Communities during the third quarter valued at $186,000. Profund Advisors LLC bought a new position in shares of Sun Communities during the third quarter valued at $271,000. ProShare Advisors LLC bought a new stake in Sun Communities in the 3rd quarter worth about $513,000. Finally, Vise Technologies Inc. purchased a new position in Sun Communities in the 3rd quarter worth about $290,000. Institutional investors own 99.59% of the company’s stock.

Sun Communities Price Performance

SUI stock opened at $112.31 on Friday. The stock has a market cap of $13.41 billion, a PE ratio of -18.23, a P/E/G ratio of 4.72 and a beta of 0.76. The firm has a 50 day simple moving average of $116.34 and a two-hundred day simple moving average of $123.53. The company has a debt-to-equity ratio of 0.69, a current ratio of 4.68 and a quick ratio of 2.52. Sun Communities has a one year low of $109.77 and a one year high of $137.85.

Sun Communities (NYSE:SUI) last posted its quarterly earnings results on Monday, October 26th. The real estate investment trust reported $2.35 EPS for the quarter, topping the consensus estimate of $2.30 by $0.05. Sun Communities had a negative net margin of 36.00% and a positive return on equity of 5.02%. The firm had revenue of $558.20 million for the quarter, compared to the consensus estimate of $563.59 million. During the same period last year, the firm posted $2.28 earnings per share. The business’s revenue was up .4% compared to the same quarter last year. On average, analysts predict that Sun Communities will post 7.01 EPS for the current fiscal year.

Sun Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were paid a dividend of $1.12 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.0%. Sun Communities’s dividend payout ratio (DPR) is currently -72.73%.

About Sun Communities

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.