Sun Communities Inc (NYSE:SUI) has been assigned an average rating of “Hold” from the six analysts that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $114.20.
Several brokerages have issued reports on SUI. BMO Capital Markets set a C$106.00 price target on FirstService and gave the company a “market perform” rating in a report on Monday, June 3rd. Wells Fargo & Co reaffirmed a “sell” rating on shares of American States Water in a report on Tuesday, March 26th. Finally, Zacks Investment Research raised First Industrial Realty Trust from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a report on Wednesday, June 5th.
Institutional investors and hedge funds have recently bought and sold shares of the company. Penserra Capital Management LLC acquired a new stake in shares of Sun Communities during the first quarter worth $58,000. Optimum Investment Advisors lifted 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. Executive Wealth Management LLC acquired a new stake in shares of Sun Communities during the fourth quarter worth $102,000. Quadrant Capital Group LLC lifted its holdings in shares of Sun Communities by 43.2% during the first quarter. Quadrant Capital Group LLC now owns 1,200 shares of the real estate investment trust’s stock worth $137,000 after buying an additional 362 shares in the last quarter. Finally, Hanseatic Management Services Inc. acquired a new stake in shares of Sun Communities during the first quarter worth $149,000. 88.80% of the stock is owned by institutional investors.
Sun Communities (NYSE:SUI) last announced its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.06. Sun Communities had a return on equity of 3.76% and a net margin of 10.00%. The business had revenue of $287.33 million during the quarter, compared to the consensus estimate of $279.54 million. During the same quarter last year, the firm posted $1.14 EPS. The company’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, sell-side analysts forecast that Sun Communities will post 4.85 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Thursday, June 27th. Sun Communities’s dividend payout ratio 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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