TheStreet upgraded shares of Sun Communities, Inc. (NYSE:SUI) from a c+ rating to a b- rating in a research report sent to investors on Wednesday morning.
SUI has been the subject of several other reports. Zacks Investment Research downgraded Sun Communities from a buy rating to a hold rating in a report on Wednesday, October 5th. BMO Capital Markets reiterated a buy rating and issued a $82.00 price target on shares of Sun Communities in a report on Thursday, January 12th. Finally, Evercore ISI started coverage on Sun Communities in a report on Friday, October 14th. They issued a buy rating and a $85.00 price target for the company. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Sun Communities presently has an average rating of Buy and a consensus price target of $81.40.
Sun Communities (NYSE:SUI) traded down 0.89% during mid-day trading on Wednesday, hitting $78.04. The stock had a trading volume of 112,429 shares. The company has a 50-day moving average of $76.37 and a 200-day moving average of $76.35. Sun Communities has a 12-month low of $62.58 and a 12-month high of $85.98. The firm has a market cap of $5.70 billion, a PE ratio of 45.37 and a beta of 0.42.
Sun Communities (NYSE:SUI) last announced its quarterly earnings results on Tuesday, November 1st. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.03. Sun Communities had a return on equity of 6.38% and a net margin of 16.21%. The firm earned $249.70 million during the quarter, compared to the consensus estimate of $146.83 million. During the same period in the prior year, the firm earned $1.05 EPS. The firm’s quarterly revenue was up 34.7% compared to the same quarter last year. Analysts expect that Sun Communities will post $0.50 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, January 20th. Stockholders of record on Saturday, December 31st were paid a dividend of $0.65 per share. The ex-dividend date was Wednesday, December 28th. This represents a $2.60 annualized dividend and a dividend yield of 3.30%. Sun Communities’s dividend payout ratio is presently 140.54%.
In other news, Director Stephanie W. Bergeron sold 4,850 shares of the firm’s stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $70.63, for a total transaction of $342,555.50. Following the completion of the sale, the director now directly owns 16,000 shares in the company, valued at $1,130,080. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jonathan Colman sold 3,000 shares of the firm’s stock in a transaction dated Friday, December 23rd. The shares were sold at an average price of $75.00, for a total value of $225,000.00. Following the sale, the executive vice president now owns 37,206 shares of the company’s stock, valued at $2,790,450. The disclosure for this sale can be found here. 5.14% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the company. Public Employees Retirement Association of Colorado boosted its position in shares of Sun Communities by 0.4% in the third quarter. Public Employees Retirement Association of Colorado now owns 2,014 shares of the real estate investment trust’s stock valued at $158,000 after buying an additional 8 shares during the last quarter. D.A. Davidson & CO. boosted its position in shares of Sun Communities by 0.5% in the third quarter. D.A. Davidson & CO. now owns 1,639 shares of the real estate investment trust’s stock valued at $128,000 after buying an additional 8 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Sun Communities by 0.4% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 10,432 shares of the real estate investment trust’s stock valued at $819,000 after buying an additional 39 shares during the last quarter. Advisor Group Inc. boosted its position in shares of Sun Communities by 3.3% in the third quarter. Advisor Group Inc. now owns 2,050 shares of the real estate investment trust’s stock valued at $161,000 after buying an additional 66 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in shares of 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 valued at $743,000 after buying an additional 81 shares during the last quarter. 98.14% of the stock is currently owned by institutional investors and hedge funds.
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.