Sun Communities (SUI) Receives $95.17 Consensus PT from Analysts

Shares of Sun Communities (NYSE:SUI) have been assigned an average rating of “Buy” from the nine analysts that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $95.17.

Several equities research analysts recently issued reports on the stock. Robert W. Baird set a $97.00 target price on shares of Sun Communities and gave the stock a “buy” rating in a report on Tuesday, April 24th. TheStreet raised shares of Sun Communities from a “c+” rating to a “b-” rating in a report on Monday, April 23rd. Zacks Investment Research lowered shares of Sun Communities from a “buy” rating to a “hold” rating in a report on Wednesday, March 21st. ValuEngine raised shares of Sun Communities from a “hold” rating to a “buy” rating in a report on Thursday, March 15th. Finally, BMO Capital Markets set a $97.00 target price on shares of Sun Communities and gave the stock a “buy” rating in a report on Wednesday, February 21st.

In other Sun Communities news, Director Clunet R. Lewis sold 2,200 shares of the 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 directly 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 available at this link. Company insiders own 3.69% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in SUI. Schwab Charles Investment Management Inc. grew its holdings in Sun Communities by 6.4% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 776,592 shares of the real estate investment trust’s stock valued at $72,053,000 after buying an additional 46,861 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Sun Communities by 7.4% in the fourth quarter. State of Alaska Department of Revenue now owns 54,220 shares of the real estate investment trust’s stock valued at $5,029,000 after purchasing an additional 3,750 shares in the last quarter. Strs Ohio grew its holdings in shares of Sun Communities by 3.4% in the fourth quarter. Strs Ohio now owns 98,912 shares of the real estate investment trust’s stock valued at $9,177,000 after purchasing an additional 3,297 shares in the last quarter. Green Street Investors LLC grew its holdings in shares of Sun Communities by 68.8% in the fourth quarter. Green Street Investors LLC now owns 54,700 shares of the real estate investment trust’s stock valued at $5,075,000 after purchasing an additional 22,300 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Sun Communities by 69.8% in the fourth quarter. SG Americas Securities LLC now owns 12,699 shares of the real estate investment trust’s stock valued at $1,178,000 after purchasing an additional 5,220 shares in the last quarter. 95.46% of the stock is owned by institutional investors and hedge funds.

Sun Communities stock traded up $0.25 during midday trading on Monday, hitting $94.32. The stock had a trading volume of 1,928 shares, compared to its average volume of 421,879. The firm has a market capitalization of $7.54 billion, a price-to-earnings ratio of 22.36, a P/E/G ratio of 3.29 and a beta of 0.11. Sun Communities has a 52-week low of $94.15 and a 52-week high of $94.60.

Sun Communities (NYSE:SUI) last released its earnings results on Monday, April 23rd. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.14 by ($0.76). The firm had revenue of $259.90 million during the quarter, compared to analysts’ expectations of $242.51 million. Sun Communities had a return on equity of 3.16% and a net margin of 8.49%. The company’s revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.10 earnings per share. analysts predict that Sun Communities will post 4.54 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 16th. Shareholders of record on Thursday, March 29th were issued a dividend of $0.71 per share. This is a positive change from Sun Communities’s previous quarterly dividend of $0.67. This represents a $2.84 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend was Wednesday, March 28th. Sun Communities’s dividend payout ratio (DPR) is 68.11%.

About Sun Communities

Analyst Recommendations for Sun Communities (NYSE:SUI)

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