Sun Communities (NYSE:SUI) Stock Gets Price Target Cut from Robert W. Baird

Sun Communities (NYSE:SUI) had its target price cut by Robert W. Baird from $138.00 to $131.00 in a research report released on Tuesday,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

A number of other research analysts have also recently commented on the company. Bank of America upgraded Sun Communities from an “underperform” rating to a “neutral” rating and set a $140.00 price target on the stock in a research note on Thursday, August 27th. Wall Street Zen downgraded Sun Communities from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Evercore reissued an “outperform” rating on shares of Sun Communities in a research note on Wednesday, October 28th. Wells Fargo & Company lowered their target price on Sun Communities from $141.00 to $136.00 and set an “overweight” rating for the company in a report on Monday, October 19th. Finally, UBS Group reaffirmed a “neutral” rating on shares of Sun Communities in a research report on Tuesday, October 27th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Sun Communities has a consensus rating of “Moderate Buy” and a consensus target price of $135.65.

Sun Communities Trading Down 0.8%

Shares of SUI stock opened at $117.29 on Tuesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 4.68 and a quick ratio of 4.68. The firm has a market cap of $14.00 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 5.99 and a beta of 0.75. The company has a 50-day moving average of $115.45 and a two-hundred day moving average of $123.14. Sun Communities has a 1-year low of $109.77 and a 1-year high of $137.85.

Sun Communities (NYSE:SUI) last announced its quarterly earnings results on Monday, October 26th. The real estate investment trust reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.05. Sun Communities had a negative net margin of 36.00% and a positive return on equity of 5.02%. The business had revenue of $558.20 million during the quarter, compared to analysts’ expectations of $563.59 million. During the same period last year, the business earned $2.28 earnings per share. The business’s revenue for the quarter was up .4% on a year-over-year basis. On average, analysts predict that Sun Communities will post 7.03 EPS for the current year.

Sun Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were given a dividend of $1.12 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.8%. Sun Communities’s dividend payout ratio is currently -72.73%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in Sun Communities during the 2nd quarter worth approximately $1,649,715,000. Dimensional Fund Advisors LP raised its holdings in shares of Sun Communities by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,812,301 shares of the real estate investment trust’s stock valued at $228,280,000 after purchasing an additional 51,588 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Sun Communities by 2.1% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,536,249 shares of the real estate investment trust’s stock worth $184,212,000 after purchasing an additional 31,497 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Sun Communities during the 2nd quarter worth $156,841,000. Finally, Legal & General Group Plc acquired a new position in shares of Sun Communities during the second quarter worth $122,737,000. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Sun Communities Company Profile

Sun Communities, Inc. is a real estate investment trust that owns and operates manufactured housing communities, recreational vehicle (RV) communities and resorts, and marinas. Its properties serve long-term residents as well as vacationers and boaters, with offerings that include home sites, RV accommodations, boat slips and related amenities. Founded in 1975, the company has expanded beyond its original manufactured housing business through acquisitions and development. Its portfolio spans the United States, Canada and the United Kingdom.