Sun Communities (NYSE:SUI) Price Target Increased to $150.00 by Analysts at Evercore ISI

Sun Communities (NYSE:SUI) had its target price upped by Evercore ISI from $149.00 to $150.00 in a research note published on Monday morning, Benzinga reports. The brokerage currently has an in-line rating on the real estate investment trust’s stock.

Other research analysts also recently issued research reports about the stock. Royal Bank of Canada increased their price objective on shares of Sun Communities from $131.00 to $137.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Robert W. Baird raised their price target on Sun Communities from $144.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, September 3rd. Truist Financial upped their price objective on Sun Communities from $127.00 to $138.00 and gave the stock a “hold” rating in a report on Tuesday, August 13th. Jefferies Financial Group assumed coverage on shares of Sun Communities in a report on Thursday, October 17th. They issued a “buy” rating and a $160.00 target price for the company. Finally, Wells Fargo & Company upped their price target on shares of Sun Communities from $123.00 to $154.00 and gave the company an “equal weight” rating in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $143.91.

Sun Communities Trading Down 0.9 %

Shares of SUI opened at $137.83 on Monday. The firm has a market cap of $17.18 billion, a P/E ratio of 160.27, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.42 and a quick ratio of 1.42. Sun Communities has a 1 year low of $102.74 and a 1 year high of $147.83. The company has a 50 day simple moving average of $135.64 and a two-hundred day simple moving average of $126.00.

Sun Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date was Monday, September 30th. Sun Communities’s payout ratio is presently 437.21%.

Insider Buying and Selling

In other Sun Communities news, CEO Baxter Underwood sold 3,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $131.43, for a total value of $394,290.00. Following the transaction, the chief executive officer now directly owns 63,462 shares in the company, valued at $8,340,810.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.89% of the stock is currently owned by insiders.

Institutional Trading of Sun Communities

A number of large investors have recently modified their holdings of SUI. Bristlecone Advisors LLC lifted its holdings in shares of Sun Communities by 52.0% in the 3rd quarter. Bristlecone Advisors LLC now owns 5,555 shares of the real estate investment trust’s stock worth $751,000 after buying an additional 1,900 shares during the period. Forsta AP Fonden raised its holdings in shares of Sun Communities by 29.2% in the third quarter. Forsta AP Fonden now owns 18,600 shares of the real estate investment trust’s stock valued at $2,514,000 after acquiring an additional 4,200 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Sun Communities by 5.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,338 shares of the real estate investment trust’s stock valued at $862,000 after acquiring an additional 308 shares in the last quarter. Osborne Partners Capital Management LLC grew its holdings in Sun Communities by 0.4% during the 3rd quarter. Osborne Partners Capital Management LLC now owns 43,757 shares of the real estate investment trust’s stock worth $5,914,000 after acquiring an additional 181 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in Sun Communities by 13,314.2% during the 3rd quarter. International Assets Investment Management LLC now owns 17,975 shares of the real estate investment trust’s stock worth $2,429,000 after acquiring an additional 17,841 shares in the last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Sun Communities Company Profile

Established in 1975, Sun Communities, Inc became a publicly owned corporation in December 1993. The Company is a fully integrated REIT listed on the New York Stock Exchange under the symbol: SUI. As of December 31, 2023, the Company owned, operated, or had an interest in a portfolio of 667 developed MH, RV and Marina properties comprising 179,310 developed sites and approximately 48,030 wet slips and dry storage spaces in the U.S., the UK and Canada.