Jeff Blau Buys 3,665 Shares of Sun Communities, Inc. (NYSE:SUI) Stock

Sun Communities, Inc. (NYSE:SUI) Director Jeff Blau bought 3,665 shares of the company’s stock in a transaction dated Friday, May 23rd. The stock was bought at an average cost of $117.99 per share, with a total value of $432,433.35. Following the acquisition, the director now directly owns 3,665 shares of the company’s stock, valued at approximately $432,433.35. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Sun Communities Stock Performance

NYSE SUI opened at $126.94 on Wednesday. The company has a market capitalization of $16.20 billion, a price-to-earnings ratio of 68.25 and a beta of 0.86. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. Sun Communities, Inc. has a twelve month low of $109.22 and a twelve month high of $147.83. The stock has a fifty day simple moving average of $122.86 and a 200 day simple moving average of $125.43.

Sun Communities (NYSE:SUI) last released its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.08. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The firm had revenue of $470.20 million for the quarter, compared to analyst estimates of $538.63 million. During the same quarter in the previous year, the company posted $1.19 EPS. The business’s revenue was up .2% on a year-over-year basis. Sell-side analysts expect that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Monday, June 30th. This is a boost from Sun Communities’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a yield of 3.28%. Sun Communities’s dividend payout ratio is presently 670.97%.

Institutional Trading of Sun Communities

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new position in shares of Sun Communities in the 1st quarter worth approximately $29,000. Twin Tree Management LP bought a new position in Sun Communities during the first quarter worth $29,000. Ransom Advisory Ltd acquired a new position in Sun Communities in the first quarter valued at $31,000. Aster Capital Management DIFC Ltd boosted its position in Sun Communities by 263.6% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 232 shares during the last quarter. Finally, GKV Capital Management Co. Inc. bought a new stake in Sun Communities during the first quarter valued at $42,000. Institutional investors and hedge funds own 99.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SUI shares. Jefferies Financial Group started coverage on shares of Sun Communities in a research report on Tuesday, April 8th. They set a “buy” rating and a $150.00 price objective for the company. Truist Financial set a $137.00 price target on shares of Sun Communities and gave the stock a “buy” rating in a report on Tuesday, June 3rd. JMP Securities reiterated a “market outperform” rating and issued a $140.00 price target on shares of Sun Communities in a research note on Tuesday, May 20th. Bank of America boosted their price objective on Sun Communities from $124.00 to $132.00 and gave the stock an “underperform” rating in a research report on Monday, May 12th. Finally, Wall Street Zen raised Sun Communities from a “sell” rating to a “hold” rating in a report on Saturday, May 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Sun Communities has an average rating of “Hold” and an average target price of $139.09.

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.