Shares of Sun Communities Inc. (NYSE:SUI) have received an average broker rating score of 1.75 (Buy) from the four analysts that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a sell recommendation and three have issued a strong buy recommendation on the company. Sun Communities’ rating score has declined by 75% in the last 90 days as a result of a number of analysts’ upgrades and downgrades.
Brokers have set a twelve-month consensus price objective of $78.67 for the company and are expecting that the company will post $1.07 earnings per share for the current quarter, according to Zacks. Zacks has also given Sun Communities an industry rank of 93 out of 265 based on the ratings given to its competitors.
Several equities analysts recently issued reports on the company. Citigroup Inc. upgraded Sun Communities from a “neutral” rating to a “buy” rating and boosted their price target for the company from $80.00 to $86.00 in a research note on Monday, September 12th. Zacks Investment Research upgraded Sun Communities from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research note on Wednesday, July 27th. TheStreet lowered Sun Communities from a “buy” rating to a “hold” rating in a research note on Friday, August 26th. Finally, BMO Capital Markets upgraded Sun Communities from a “market perform” rating to an “outperform” rating and set a $85.00 price target on the stock in a research note on Friday, September 16th.
Shares of Sun Communities (NYSE:SUI) opened at 75.42 on Thursday. The company has a market cap of $5.18 billion, a P/E ratio of 37.63 and a beta of 0.52. The firm’s 50-day moving average price is $77.46 and its 200 day moving average price is $74.01. Sun Communities has a 52 week low of $61.65 and a 52 week high of $85.98.
Sun Communities (NYSE:SUI) last issued its quarterly earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.03. Sun Communities had a return on equity of 8.30% and a net margin of 19.60%. The firm had revenue of $140 million for the quarter, compared to analyst estimates of $165.78 million. During the same period in the previous year, the company posted $0.87 earnings per share. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. On average, equities analysts predict that Sun Communities will post $3.76 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $2.60 annualized dividend and a dividend yield of 3.45%. Sun Communities’s dividend payout ratio is currently 122.64%.
In other news, Director Clunet R. Lewis sold 1,800 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $78.16, for a total value of $140,688.00. Following the sale, the director now directly owns 18,400 shares in the company, valued at approximately $1,438,144. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 5.14% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in SUI. BNP Paribas Arbitrage SA raised its stake in Sun Communities by 0.9% in the third quarter. BNP Paribas Arbitrage SA now owns 9,467 shares of the real estate investment trust’s stock worth $743,000 after buying an additional 81 shares during the period. Macquarie Group Ltd. raised its stake in Sun Communities by 20.2% in the second quarter. Macquarie Group Ltd. now owns 12,500 shares of the real estate investment trust’s stock worth $958,000 after buying an additional 2,100 shares during the period. CAPROCK Group Inc. raised its stake in Sun Communities by 17.4% in the second quarter. CAPROCK Group Inc. now owns 4,042 shares of the real estate investment trust’s stock worth $310,000 after buying an additional 600 shares during the period. Cohen & Steers Inc. raised its stake in Sun Communities by 5.4% in the second quarter. Cohen & Steers Inc. now owns 8,639,821 shares of the real estate investment trust’s stock worth $662,156,000 after buying an additional 443,535 shares during the period. Finally, Public Employees Retirement System of Ohio raised its stake in Sun Communities by 47.2% in the second quarter. Public Employees Retirement System of Ohio now owns 94,824 shares of the real estate investment trust’s stock worth $7,267,000 after buying an additional 30,390 shares during the period. Institutional investors own 93.27% of the company’s stock.
Sun Communities Company Profile
Sun Communities, Inc (SHS) is a self-administered and self-managed real estate investment trust (REIT). The Company operates in two segments: Real Property Operations, and Home Sales and Rentals. The Real Property Operations segment owns, operates and develops manufactured housing (MH) and recreational vehicle (RV) throughout the United States and is in the business of acquiring, operating and expanding MH and RV communities.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Sun Communities Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sun Communities Inc. and related companies with MarketBeat.com's FREE daily email newsletter.