Citigroup set a $110.00 price objective on Sun Communities (NYSE:SUI) in a research note issued to investors on Wednesday. The brokerage currently has a hold rating on the real estate investment trust’s stock.
Other analysts have also issued reports about the company. BMO Capital Markets boosted their target price on Sun Communities to $109.00 and gave the company an outperform rating in a research report on Tuesday, September 11th. Robert W. Baird boosted their target price on Sun Communities from $102.00 to $106.00 and gave the company an outperform rating in a research report on Monday, September 17th. Royal Bank of Canada boosted their target price on Sun Communities to $105.00 and gave the company an above average rating in a research report on Thursday, August 30th. They noted that the move was a valuation call. Wells Fargo & Co boosted their target price on Sun Communities from $103.00 to $108.00 and gave the company an outperform rating in a research report on Friday, August 24th. Finally, Zacks Investment Research lowered Sun Communities from a hold rating to a sell rating in a research report on Thursday, November 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $108.50.
Sun Communities stock traded up $1.39 during midday trading on Wednesday, reaching $107.39. The stock had a trading volume of 6,449 shares, compared to its average volume of 348,294. Sun Communities has a 12 month low of $80.12 and a 12 month high of $108.91. The firm has a market capitalization of $9.29 billion, a price-to-earnings ratio of 25.75, a PEG ratio of 3.55 and a beta of 0.13.
Sun Communities (NYSE:SUI) last issued its earnings results on Wednesday, October 24th. The real estate investment trust reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.07. Sun Communities had a return on equity of 3.95% and a net margin of 10.16%. The business had revenue of $323.54 million during the quarter, compared to analyst estimates of $292.22 million. On average, sell-side analysts predict that Sun Communities will post 4.59 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, December 28th. This represents a $2.84 dividend on an annualized basis and a yield of 2.64%. Sun Communities’s dividend payout ratio (DPR) is currently 68.11%.
In other Sun Communities news, Director Clunet R. Lewis sold 1,200 shares of Sun Communities stock in a transaction dated Friday, September 28th. The stock was sold at an average price of $99.95, for a total transaction of $119,940.00. Following the completion of the transaction, the director now owns 19,400 shares in the company, valued at approximately $1,939,030. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John Bandini Mclaren sold 2,400 shares of Sun Communities stock in a transaction dated Friday, November 30th. The shares were sold at an average price of $103.42, for a total value of $248,208.00. Following the transaction, the chief operating officer now owns 152,624 shares of the company’s stock, valued at approximately $15,784,374.08. The disclosure for this sale can be found here. 3.69% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in SUI. Winslow Evans & Crocker Inc. acquired a new position in Sun Communities during the 3rd quarter valued at about $126,000. Qube Research & Technologies Ltd purchased a new position in shares of Sun Communities in the 2nd quarter worth approximately $137,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of Sun Communities in the 3rd quarter worth approximately $162,000. Bailard Inc. purchased a new position in shares of Sun Communities in the 3rd quarter worth approximately $203,000. Finally, Raymond James Trust N.A. purchased a new position in shares of Sun Communities in the 3rd quarter worth approximately $223,000. Institutional investors and hedge funds own 93.31% of the company’s stock.
About Sun Communities
Sun Communities, Inc is a REIT that, as of September 30, 2018, owned, operated, or had an interest in a portfolio of 370 communities comprising over 127,000 developed sites in 31 states and Ontario, Canada.
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