Sun Communities Inc (NYSE:SUI) Receives Average Recommendation of “Hold” from Brokerages

Shares of Sun Communities Inc (NYSE:SUI) have received an average recommendation of “Hold” from the eight brokerages that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $153.75.

A number of equities research analysts have recently weighed in on SUI shares. Citigroup raised their price target on shares of Sun Communities from $140.00 to $150.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Wells Fargo & Co cut their target price on shares of Sun Communities from $158.00 to $139.00 and set an “equal weight” rating on the stock in a research report on Friday, May 1st. Zacks Investment Research lowered shares of Sun Communities from a “buy” rating to a “hold” rating in a report on Wednesday. Royal Bank of Canada increased their price objective on Sun Communities from $147.00 to $151.00 and gave the company an “outperform” rating in a report on Tuesday, July 28th. Finally, TheStreet raised Sun Communities from a “c+” rating to a “b-” rating in a report on Friday, July 24th.

In other Sun Communities news, Director Clunet R. Lewis sold 4,000 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $143.50, for a total transaction of $574,000.00. Following the sale, the director now owns 20,000 shares of the company’s stock, valued at $2,870,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.72% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of SUI. Gradient Investments LLC bought a new position in shares of Sun Communities during the 2nd quarter worth approximately $27,000. Northwestern Mutual Wealth Management Co. grew its holdings in Sun Communities by 177.8% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 275 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 176 shares during the period. Meeder Asset Management Inc. acquired a new stake in Sun Communities in the first quarter worth $37,000. Wealthcare Advisory Partners LLC bought a new stake in Sun Communities in the first quarter valued at $39,000. Finally, Harvest Fund Management Co. Ltd boosted its position in shares of Sun Communities by 368.8% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 361 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 284 shares in the last quarter. Institutional investors and hedge funds own 91.42% of the company’s stock.

Shares of SUI stock opened at $149.93 on Friday. Sun Communities has a fifty-two week low of $95.34 and a fifty-two week high of $173.98. The stock’s fifty day moving average price is $139.60 and its two-hundred day moving average price is $141.40. The company has a debt-to-equity ratio of 0.75, a quick ratio of 5.39 and a current ratio of 5.39. The company has a market cap of $14.73 billion, a PE ratio of 108.65, a P/E/G ratio of 4.53 and a beta of 0.52.

Sun Communities (NYSE:SUI) last announced its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $0.60 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.57). Sun Communities had a return on equity of 3.93% and a net margin of 10.37%. The business had revenue of $303.27 million for the quarter, compared to the consensus estimate of $311.24 million. On average, equities analysts predict that Sun Communities will post 4.93 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend was Monday, June 29th. Sun Communities’s dividend payout ratio (DPR) is presently 64.23%.

About Sun Communities

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.

See Also: Net Margin

Analyst Recommendations for Sun Communities (NYSE:SUI)

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