Sun Communities Inc (SUI) Given Average Rating of “Hold” by Brokerages

Shares of Sun Communities Inc (NYSE:SUI) have received an average recommendation of “Hold” from the eight analysts that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $107.60.

Several research firms have recently commented on SUI. Citigroup raised their price objective on Sun Communities from $100.00 to $105.00 and gave the stock a “hold” rating in a research note on Monday, October 29th. Zacks Investment Research downgraded Sun Communities from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st.

Shares of NYSE SUI traded up $0.59 during trading on Wednesday, hitting $114.12. The company had a trading volume of 5,305 shares, compared to its average volume of 272,088. Sun Communities has a 12 month low of $82.04 and a 12 month high of $113.89. The company has a market capitalization of $9.80 billion, a P/E ratio of 27.39, a price-to-earnings-growth ratio of 3.60 and a beta of 0.28.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 15th. Investors of record on Monday, December 31st were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend was Friday, December 28th. Sun Communities’s dividend payout ratio (DPR) is presently 68.11%.

In related news, COO John Bandini Mclaren sold 2,400 shares of Sun Communities stock in a transaction that occurred on Friday, November 30th. The stock was sold at an average price of $103.42, for a total transaction of $248,208.00. Following the sale, the chief operating officer now owns 152,624 shares of the company’s stock, valued at approximately $15,784,374.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.69% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SUI. Ffcm LLC purchased a new position in Sun Communities during the 4th quarter valued at approximately $26,000. Lindbrook Capital LLC purchased a new position in shares of Sun Communities in the 4th quarter worth approximately $31,000. Quadrant Capital Group LLC boosted its holdings in shares of Sun Communities by 20.9% in the 4th quarter. Quadrant Capital Group LLC now owns 838 shares of the real estate investment trust’s stock worth $81,000 after purchasing an additional 145 shares during the period. Winslow Evans & Crocker Inc. purchased a new position in shares of Sun Communities in the 3rd quarter worth approximately $126,000. Finally, Robeco Institutional Asset Management B.V. purchased a new position in shares of Sun Communities in the 3rd quarter worth approximately $162,000. Institutional investors and hedge funds own 93.07% of the company’s stock.

Sun Communities Company Profile

Sun Communities, Inc is a REIT that, as of September 30, 2018, owned, operated, or had an interest in a portfolio of 370 communities comprising over 127,000 developed sites in 31 states and Ontario, Canada.

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Analyst Recommendations for Sun Communities (NYSE:SUI)

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