Brokerages Set Sun Communities, Inc. (NYSE:SUI) Target Price at $139.42

Sun Communities, Inc. (NYSE:SUI) has been given an average rating of “Moderate Buy” by the seventeen ratings firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $139.4219.

SUI has been the topic of a number of recent analyst reports. Morgan Stanley reduced their price target on shares of Sun Communities from $135.00 to $126.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 12th. Colliers Securities upgraded shares of Sun Communities from a “neutral” rating to a “buy” rating and set a $150.00 target price for the company in a research note on Friday, May 22nd. Wells Fargo & Company reduced their target price on Sun Communities from $142.00 to $141.00 and set an “overweight” rating on the stock in a report on Monday, August 10th. Jefferies Financial Group upgraded Sun Communities to a “strong-buy” rating in a research report on Wednesday, July 22nd. Finally, Barclays raised their price target on Sun Communities from $146.00 to $147.00 and gave the company an “overweight” rating in a report on Monday, August 17th.

Sun Communities Price Performance

Sun Communities stock opened at $116.16 on Friday. Sun Communities has a one year low of $115.60 and a one year high of $137.85. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.52 and a quick ratio of 2.52. The business has a 50 day simple moving average of $121.30 and a 200 day simple moving average of $125.21. The company has a market capitalization of $14.15 billion, a PE ratio of -16.38, a price-to-earnings-growth ratio of 5.37 and a beta of 0.77.

Sun Communities Dividend Announcement

The firm 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. The ex-dividend date is Wednesday, September 30th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.9%. Sun Communities’s dividend payout ratio (DPR) is -63.19%.

Insider Activity

In related news, Director Gary Shiffman sold 25,031 shares of Sun Communities stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $119.96, for a total value of $3,002,718.76. Following the completion of the transaction, the director directly owned 857,761 shares of the company’s stock, valued at $102,897,009.56. The trade was a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.58% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sun Communities

A number of hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Sun Communities by 9.1% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,003 shares of the real estate investment trust’s stock worth $127,000 after acquiring an additional 84 shares during the last quarter. IFP Advisors Inc grew its stake in shares of Sun Communities by 3.2% during the fourth quarter. IFP Advisors Inc now owns 2,902 shares of the real estate investment trust’s stock valued at $360,000 after purchasing an additional 89 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Sun Communities by 13.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 773 shares of the real estate investment trust’s stock valued at $96,000 after purchasing an additional 90 shares in the last quarter. CIBC Asset Management Inc raised its position in Sun Communities by 2.1% in the 4th quarter. CIBC Asset Management Inc now owns 5,467 shares of the real estate investment trust’s stock worth $677,000 after purchasing an additional 112 shares during the last quarter. Finally, Orion Porfolio Solutions LLC raised its position in Sun Communities by 1.3% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 9,335 shares of the real estate investment trust’s stock worth $1,181,000 after purchasing an additional 117 shares during the last quarter. Institutional investors own 99.59% of the company’s stock.

About Sun Communities

Sun Communities, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company’s portfolio spans more than 500 manufactured housing communities and over 160 RV resorts, offering affordable, long-term housing as well as short-stay recreational lodging. Through professional on-site management and amenity-rich community designs, Sun Communities serves a diverse customer base that includes retirees, workforce families and vacationers.

Founded in 1975 and headquartered in Southfield, Michigan, Sun Communities has grown organically and through strategic acquisitions to become one of the largest operators in its sector.