Sun Communities, Inc. (NYSE:SUI) Stock Has Consensus Price Target of $139.30 According to Analysts

Sun Communities, Inc. (NYSE:SUI) has been assigned an average recommendation of “Moderate Buy” from the seventeen analysts that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, eight have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $138.11.

A number of research analysts have commented on the stock. Odeon Capital Group set a $135.00 price target on shares of Sun Communities in a research report on Thursday, July 9th. Truist Financial lowered their price objective on shares of Sun Communities from $138.00 to $136.00 and set a “buy” rating for the company in a report on Friday, September 11th. Royal Bank Of Canada lowered shares of Sun Communities from a “moderate buy” rating to a “hold” rating in a report on Monday, August 10th. Bank of America upgraded shares of Sun Communities from an “underperform” rating to a “neutral” rating and set a $140.00 target price on the stock in a research report on Thursday, August 27th. Finally, Wall Street Zen downgraded shares of Sun Communities from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st.

Sun Communities Price Performance

Shares of Sun Communities stock opened at $112.30 on Wednesday. The firm has a market capitalization of $13.68 billion, a PE ratio of -15.84, a price-to-earnings-growth ratio of 4.80 and a beta of 0.76. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.70. Sun Communities has a 12 month low of $109.77 and a 12 month high of $137.85. The business’s 50-day moving average price is $118.39 and its 200-day moving average price is $122.33.

Sun Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Wednesday, September 30th. Sun Communities’s payout ratio is -63.19%.

Hedge Funds Weigh In On Sun Communities

Institutional investors and hedge funds have recently bought and sold shares of the stock. CX Institutional lifted its position in Sun Communities by 1,076.7% in the third quarter. CX Institutional now owns 353 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 323 shares during the last quarter. Oslo Pensjonsforsikring AS bought a new position in shares of Sun Communities in the first quarter worth approximately $49,000. Avalon Trust Co purchased a new position in shares of Sun Communities in the second quarter worth $61,000. V Square Quantitative Management LLC increased its stake in shares of Sun Communities by 36.7% in the first quarter. V Square Quantitative Management LLC now owns 548 shares of the real estate investment trust’s stock worth $69,000 after buying an additional 147 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new stake in Sun Communities during the 2nd quarter valued at $72,000. 99.59% of the stock is currently owned by institutional investors.

Sun Communities Company Profile

Sun Communities, Inc is a real estate investment trust that owns, operates and develops residential communities and recreational properties. Its portfolio primarily includes manufactured housing communities, recreational vehicle resorts and marinas.

The company provides housing and leisure-oriented accommodations through communities offering manufactured homes, seasonal and long-term RV sites, and related amenities. Its marina operations include wet slips, dry storage and other services for boat owners.

Founded in 1975, Sun Communities serves residents, vacationers and boaters across the United States, with additional operations in the United Kingdom.