Brokerages have assigned a consensus rating of “Moderate Buy” to Sun Communities, Inc. (NYSE:SUI).
According to Bloomberg, the ten research firms that cover Sun Communities, Inc. (NYSE: SUI) have, on average, recommended a “Moderate Buy” for the stock. This information is derived from the research companies’ ratings of the company’s stock. These findings originate from various research companies. There have been six recommendations made by experts in equity research: one to buy the stock, one to sell it, and one to keep it in one’s portfolio. The average price target forecast for the next year by market analysts who have covered the stock in the previous year is $168.86 per share. This is the consensus price target projection.
In recent press releases, several equity analysts were asked about their thoughts on SUI shares and provided their responses. Barclays reduced the target price for Sun Communities in a research report that was made public on Friday, October 7. The new price target is $185.00, down from the previous price target of $210.00. Despite the price decrease, analysts gave the company an “overweight” rating. Evercore ISI stated in a research note released on Thursday, October 13, that they have decreased their price objective on Sun Communities shares to $156.00. Before October 17, TheStreet had assigned a grade of “b-” to the stock of Sun Communities; however, on that day, they downgraded it to a grade of “c.” In a research note published on November 30, Trust Financial upgraded its “buy” rating on Sun Communities and increased its price objective on the stock from $147.0 to $163.00. Robert W. Baird lowered their price objective for Sun Communities shares from $175.00 to $169.00 in a research report made available to the public on Friday, November 25. The report was made available on the Robert W. Baird website. The final and most significant adjustment was made here.
Important shareholders have been known to adjust the percentage of the company’s stock they own throughout the past few months. Sun Communities received a total investment of 1,368,000 dollars from the Maryland State Retirement and Pension System during the final three months of 2018. Well Done LLC increased its stake in Sun Communities by 18.0% over the final three months of 2018. After making an additional purchase of 1,164 shares during the period in question, Well Done LLC now possesses a total of 7,619 shares of the stock in the real estate investment trust, each of which has a value of $1,000 as of this moment. Exchange Traded Concepts LLC increased its ownership in Sun Communities to 100 percent during the fourth quarter by purchasing a 26.7% stake in the latter company. Exchange Traded Concepts LLC now has a total of 2,052 real estate investment trust shares due to purchasing 433 additional shares during the time period in question. This gives the company an overall value of $293,000 for its holdings. The investment firm Hunter Perkins Capital Management LLC increased the amount of Sun Communities stock owned by 1.0% during the quarter ending December 31. After purchasing an additional 1,448 shares of the REIT’s stock during the period, Hunter Perkins Capital Management LLC now has 145,210 shares of the company’s stock in its possession. This number of shares is worth a total of $20,855,000. During the final three months of 2018, DNB Asset Management AS increased the proportion of its total capital invested in Sun Communities by 13.8%. After making an additional purchase of 2,038 shares during the period in question, DNB Asset Management AS now has 16,828 real estate investment trust shares, which are currently valued at $2,406,000. This is because DNB Asset Management AS has 16,828 real estate investment trust shares. 93.331 percent of the company’s shares are held in institutional portfolios, including those of hedge funds and other institutional investors.
The NYSE: SUI stock began trading for the first time on Thursday for $147.64 per share. The stock’s simple moving average over the past 50 days is $143.48; its simple moving average over the past 200 days is, respectively, $147.24. The company’s market capitalization is currently sitting at $18.29 billion; it has a price-to-earnings ratio of 72.02, a price-to-earnings-growth ratio of 2.30, and a beta coefficient of 0.64. The ratio of debt to equity is 0.83, the ratio of current assets to total assets is also 1.84, and the ratio of quick assets to current assets is also 1.84. In the past fifty-two weeks, the price of a home in Sun Communities has ranged anywhere from $117.63 to $199.09, with a low of $117.63 and a high of $199.09.
On Monday, October 24, the most recent quarterly earnings report for Sun Communities (NYSE: SUI) was made available to the public. The real estate investment trust (REIT) reported earnings of $1.32 per share for the quarter, which was $0.05 less than the consensus estimate of $1.37 per share. Sun Communities achieved a return on equity of 3.34% in their line of work and a net margin of 8.81%. The corporation generated $2.11 in revenue per share during the previous year. Stock market analysts project Sun Communities will generate earnings of 7.28 cents per share during the current fiscal year.
In addition, the company recently announced and paid out a quarterly dividend, which was done on the 17th of this month. The dividend was distributed. On Friday, December 30, a $0.88 dividend payment was made to shareholders with a record of their own in their accounts. Thursday, December 29, was the day that the dividend was disbursed; that day was also the month of December. This results in an annual dividend payment of $3.52 and a dividend yield of 2.38% when calculated annually. Sun Communities’ payout percentage is 171.71%.
As of the 31st day of March 2022, the real estate investment trust known as Sun Communities, Inc. owned, managed, or had an interest in a portfolio consisting of 603 developed mobile home, recreational vehicle, and marina properties with over 45,700 wet slips and dry storage spaces. These properties were situated in 39 distinct states and other countries and territories, including Canada, Puerto Rico, and the United Kingdom.