Sun Communities Inc (NYSE:SUI) has been assigned an average recommendation of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $114.20.
Several equities analysts have weighed in on SUI shares. Zacks Investment Research lowered Sun Communities from a “buy” rating to a “hold” rating in a research note on Wednesday, June 5th. BMO Capital Markets increased their price target on Sun Communities to $132.00 and gave the stock an “outperform” rating in a report on Monday, June 3rd.
Several institutional investors have recently made changes to their positions in SUI. Penserra Capital Management LLC bought a new position in shares of Sun Communities during the first quarter worth about $58,000. Whittier Trust Co. bought a new position in shares of Sun Communities during the second quarter worth about $82,000. Optimum Investment Advisors grew its holdings in shares of Sun Communities by 14.8% during the first quarter. Optimum Investment Advisors now owns 775 shares of the real estate investment trust’s stock worth $92,000 after buying an additional 100 shares in the last quarter. AdvisorNet Financial Inc grew its holdings in shares of Sun Communities by 351.0% during the second quarter. AdvisorNet Financial Inc now owns 902 shares of the real estate investment trust’s stock worth $116,000 after buying an additional 702 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Sun Communities during the second quarter worth about $128,000. Institutional investors own 88.90% of the company’s stock.
NYSE:SUI traded down $1.16 during mid-day trading on Wednesday, hitting $133.82. The company had a trading volume of 5,221 shares, compared to its average volume of 431,348. Sun Communities has a fifty-two week low of $94.63 and a fifty-two week high of $136.64. The company has a fifty day moving average price of $131.68. The stock has a market capitalization of $12.24 billion, a price-to-earnings ratio of 29.21, a P/E/G ratio of 4.66 and a beta of 0.27.
Sun Communities (NYSE:SUI) last released its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.46 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.67). Sun Communities had a net margin of 11.05% and a return on equity of 4.01%. The company had revenue of $312.45 million during the quarter, compared to analyst estimates of $295.20 million. During the same period in the previous year, the company posted $1.07 EPS. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. Research analysts expect that Sun Communities will post 4.87 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a $0.75 dividend. The ex-dividend date was Thursday, June 27th. This represents a $3.00 annualized dividend and a dividend yield of 2.24%. Sun Communities’s dividend payout ratio (DPR) is currently 65.50%.
Sun Communities Company Profile
Sun Communities, Inc is a REIT that, as of March 31, 2019, owned, operated, or had an interest in a portfolio of 379 communities comprising over 132,000 developed sites in 31 states and Ontario, Canada.
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