ValuEngine upgraded shares of Sun Communities (NYSE:SUI) from a hold rating to a buy rating in a research report sent to investors on Thursday morning.
A number of other analysts also recently weighed in on SUI. Robert W. Baird raised shares of Sun Communities from a neutral rating to an outperform rating in a research report on Wednesday, February 7th. Zacks Investment Research raised shares of Sun Communities from a hold rating to a buy rating and set a $103.00 target price for the company in a research report on Wednesday, December 27th. Evercore ISI raised shares of Sun Communities from an in-line rating to an outperform rating and set a $86.00 target price for the company in a research report on Monday, December 4th. Finally, BMO Capital Markets set a $97.00 target price on shares of Sun Communities and gave the company a buy rating in a research report on Wednesday, February 21st. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $95.00.
Shares of Sun Communities (NYSE:SUI) traded up $0.31 during midday trading on Thursday, reaching $90.12. 132,310 shares of the company were exchanged, compared to its average volume of 416,503. The company has a market cap of $7,170.00, a price-to-earnings ratio of 105.79, a PEG ratio of 3.13 and a beta of 0.18. Sun Communities has a 1-year low of $78.78 and a 1-year high of $96.08.
Sun Communities (NYSE:SUI) last issued its quarterly earnings data on Wednesday, February 21st. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.98. The business had revenue of $242.00 million during the quarter, compared to analyst estimates of $207.51 million. Sun Communities had a net margin of 8.01% and a return on equity of 2.98%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the business earned $0.91 EPS. analysts predict that Sun Communities will post 4.54 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Thursday, March 29th will be given a dividend of $0.71 per share. This is an increase from Sun Communities’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $2.84 annualized dividend and a dividend yield of 3.15%. Sun Communities’s dividend payout ratio (DPR) is 315.29%.
In other news, Director Clunet R. Lewis sold 2,200 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $87.84, for a total transaction of $193,248.00. Following the completion of the sale, the director now owns 19,400 shares of the company’s stock, valued at approximately $1,704,096. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.15% of the company’s stock.
Several hedge funds have recently made changes to their positions in SUI. American Century Companies Inc. grew its position in shares of Sun Communities by 3,848.1% during the 4th quarter. American Century Companies Inc. now owns 609,195 shares of the real estate investment trust’s stock worth $56,521,000 after buying an additional 593,765 shares during the period. Bank of New York Mellon Corp grew its position in Sun Communities by 25.9% in the 4th quarter. Bank of New York Mellon Corp now owns 2,197,655 shares of the real estate investment trust’s stock valued at $203,897,000 after purchasing an additional 452,380 shares during the period. Renaissance Technologies LLC grew its position in Sun Communities by 52.1% in the 4th quarter. Renaissance Technologies LLC now owns 857,200 shares of the real estate investment trust’s stock valued at $79,531,000 after purchasing an additional 293,600 shares during the period. Capital Growth Management LP lifted its stake in Sun Communities by 77.6% during the 3rd quarter. Capital Growth Management LP now owns 515,000 shares of the real estate investment trust’s stock valued at $44,125,000 after acquiring an additional 225,000 shares in the last quarter. Finally, Picton Mahoney Asset Management bought a new position in Sun Communities during the 3rd quarter valued at $14,651,000. 94.78% of the stock is owned by institutional investors.
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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).
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