Shares of Sun Communities Inc (NYSE:SUI) have earned an average rating of “Hold” from the seven analysts that are covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $114.20.

Several research firms have recently weighed in on SUI. Zacks Investment Research downgraded Sun Communities from a “buy” rating to a “hold” rating in a research report on Wednesday, June 5th. Wells Fargo & Co downgraded Sun Communities from an “outperform” rating to a “market perform” rating and set a $118.00 target price for the company. in a research report on Tuesday, March 26th. Finally, BMO Capital Markets lifted their target price on Sun Communities to $132.00 and gave the stock an “outperform” rating in a research report on Monday, June 3rd.

NYSE SUI traded up $0.01 on Tuesday, hitting $129.12. 339,232 shares of the stock were exchanged, compared to its average volume of 813,970. The firm has a market capitalization of $11.71 billion, a price-to-earnings ratio of 28.19, a PEG ratio of 6.65 and a beta of 0.28. Sun Communities has a 52-week low of $94.63 and a 52-week high of $130.53.

Sun Communities (NYSE:SUI) last posted its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $1.18 EPS for the quarter, topping the consensus estimate of $1.12 by $0.06. The company had revenue of $287.33 million during the quarter, compared to analyst estimates of $279.54 million. Sun Communities had a net margin of 10.00% and a return on equity of 3.76%. Sun Communities’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.14 earnings per share. As a group, research analysts anticipate that Sun Communities will post 4.86 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $3.00 annualized dividend and a dividend yield of 2.32%. Sun Communities’s dividend payout ratio (DPR) is 65.50%.

In other news, Director Clunet R. Lewis sold 2,400 shares of Sun Communities stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $117.34, for a total transaction of $281,616.00. Following the completion of the sale, the director now directly owns 20,000 shares in the company, valued at $2,346,800. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.34% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc raised its holdings in shares of Sun Communities by 5.4% in the third quarter. Vanguard Group Inc now owns 11,641,879 shares of the real estate investment trust’s stock valued at $1,182,116,000 after acquiring an additional 600,622 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Sun Communities by 2.7% in the first quarter. BlackRock Inc. now owns 6,994,556 shares of the real estate investment trust’s stock valued at $828,995,000 after acquiring an additional 184,083 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Sun Communities by 9.0% in the first quarter. Principal Financial Group Inc. now owns 2,981,926 shares of the real estate investment trust’s stock valued at $353,418,000 after acquiring an additional 246,452 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Sun Communities by 3.5% in the first quarter. Daiwa Securities Group Inc. now owns 2,533,293 shares of the real estate investment trust’s stock valued at $300,245,000 after acquiring an additional 84,675 shares in the last quarter. Finally, Aristotle Capital Management LLC raised its holdings in shares of Sun Communities by 3.7% in the first quarter. Aristotle Capital Management LLC now owns 2,095,725 shares of the real estate investment trust’s stock valued at $248,385,000 after acquiring an additional 74,867 shares in the last quarter. Hedge funds and other institutional investors own 88.80% of the company’s stock.

About Sun Communities

Sun Communities, Inc is a REIT that, as of March 31, 2019, owned, operated, or had an interest in a portfolio of 379 communities comprising over 132,000 developed sites in 31 states and Ontario, Canada.

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Analyst Recommendations for Sun Communities (NYSE:SUI)

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