Brokerages Set Sun Communities Inc (SUI) Target Price at $103.17

Shares of Sun Communities Inc (NYSE:SUI) have earned a consensus recommendation of “Buy” from the nine ratings firms that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $103.17.

A number of brokerages have issued reports on SUI. Royal Bank of Canada increased their price target on Sun Communities to $105.00 and gave the stock an “above average” rating in a research report on Thursday, August 30th. They noted that the move was a valuation call. Zacks Investment Research upgraded Sun Communities from a “hold” rating to a “buy” rating and set a $113.00 price target on the stock in a research report on Friday, September 7th. Citigroup increased their price target on Sun Communities from $100.00 to $105.00 and gave the stock a “hold” rating in a research report on Monday. Robert W. Baird increased their price target on Sun Communities from $102.00 to $106.00 and gave the stock an “outperform” rating in a research report on Monday, September 17th. Finally, BMO Capital Markets increased their price target on Sun Communities to $109.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 11th.

Shares of SUI opened at $100.06 on Monday. Sun Communities has a 52 week low of $80.12 and a 52 week high of $103.74. The stock has a market capitalization of $8.78 billion, a PE ratio of 24.00, a P/E/G ratio of 3.41 and a beta of 0.06.



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, topping 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 firm had revenue of $323.54 million for the quarter, compared to the consensus estimate of $292.22 million. As a group, research analysts expect that Sun Communities will post 4.59 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were issued a $0.71 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $2.84 annualized dividend and a dividend yield of 2.84%. Sun Communities’s dividend payout ratio is presently 68.11%.

In related news, Director Clunet R. Lewis sold 1,200 shares of the stock in a transaction that occurred on Friday, September 28th. The stock was sold at an average price of $99.95, for a total value of $119,940.00. Following the completion of the sale, the director now owns 19,400 shares of the company’s stock, valued at $1,939,030. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.69% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of the stock. Principal Financial Group Inc. increased its stake in Sun Communities by 3.4% during the first quarter. Principal Financial Group Inc. now owns 2,965,275 shares of the real estate investment trust’s stock worth $270,938,000 after acquiring an additional 98,004 shares during the last quarter. Legal & General Group Plc increased its stake in Sun Communities by 12.9% during the first quarter. Legal & General Group Plc now owns 273,920 shares of the real estate investment trust’s stock worth $25,028,000 after acquiring an additional 31,397 shares during the last quarter. Royal Bank of Canada increased its stake in Sun Communities by 12.4% during the first quarter. Royal Bank of Canada now owns 92,013 shares of the real estate investment trust’s stock worth $8,407,000 after acquiring an additional 10,171 shares during the last quarter. Allianz Asset Management GmbH increased its stake in Sun Communities by 82.2% during the first quarter. Allianz Asset Management GmbH now owns 547,789 shares of the real estate investment trust’s stock worth $50,051,000 after acquiring an additional 247,103 shares during the last quarter. Finally, Suntrust Banks Inc. increased its stake in Sun Communities by 3.4% during the first quarter. Suntrust Banks Inc. now owns 29,426 shares of the real estate investment trust’s stock worth $2,687,000 after acquiring an additional 956 shares during the last quarter. 92.77% of the stock is owned by hedge funds and other institutional investors.

About Sun Communities

Sun Communities, Inc is a REIT that, as of June 30, 2018, owned, operated, or had an interest in a portfolio of 367 communities comprising approximately 126,000 developed sites in 31 states and Ontario, Canada. For more information about Sun Communities, Inc, please visit www.suncommunities.com.

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Analyst Recommendations for Sun Communities (NYSE:SUI)

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