Sun Communities (NYSE:SUI) Lowered to Sell at StockNews.com

StockNews.com downgraded shares of Sun Communities (NYSE:SUI) from a hold rating to a sell rating in a report published on Friday.

SUI has been the topic of a number of other reports. Royal Bank of Canada lifted their target price on Sun Communities from $131.00 to $137.00 and gave the stock an outperform rating in a research report on Friday, August 2nd. Evercore ISI decreased their target price on Sun Communities from $145.00 to $128.00 and set an outperform rating on the stock in a research report on Wednesday, May 1st. Finally, JMP Securities reissued a market outperform rating and set a $150.00 target price on shares of Sun Communities in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Sun Communities currently has a consensus rating of Hold and a consensus target price of $135.10.

Sun Communities Stock Performance

Shares of NYSE:SUI traded up $1.01 during midday trading on Friday, hitting $130.48. The company’s stock had a trading volume of 718,366 shares, compared to its average volume of 741,789. The stock has a market capitalization of $16.27 billion, a price-to-earnings ratio of 112.48, a PEG ratio of 0.96 and a beta of 0.88. The stock’s 50 day simple moving average is $121.72 and its 200 day simple moving average is $123.45. Sun Communities has a fifty-two week low of $102.74 and a fifty-two week high of $137.45. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.42 and a current ratio of 1.42.

Sun Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date was Friday, June 28th. Sun Communities’s payout ratio is 324.14%.

Insider Buying and Selling at Sun Communities

In other Sun Communities news, CEO Baxter Underwood sold 3,000 shares of Sun Communities stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $131.43, for a total transaction of $394,290.00. Following the sale, the chief executive officer now directly owns 63,462 shares of the company’s stock, valued at $8,340,810.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.89% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SUI. International Assets Investment Management LLC raised its stake in shares of Sun Communities by 10,803.3% in the fourth quarter. International Assets Investment Management LLC now owns 16,573 shares of the real estate investment trust’s stock valued at $2,215,000 after acquiring an additional 16,421 shares during the last quarter. Prime Capital Investment Advisors LLC raised its position in Sun Communities by 4.9% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 2,944 shares of the real estate investment trust’s stock worth $393,000 after purchasing an additional 138 shares during the last quarter. Stratos Wealth Partners LTD. raised its position in Sun Communities by 46.9% in the 4th quarter. Stratos Wealth Partners LTD. now owns 2,712 shares of the real estate investment trust’s stock worth $363,000 after purchasing an additional 866 shares during the last quarter. Tobam raised its position in Sun Communities by 64.0% in the 4th quarter. Tobam now owns 743 shares of the real estate investment trust’s stock worth $99,000 after purchasing an additional 290 shares during the last quarter. Finally, Mutual of America Capital Management LLC raised its position in Sun Communities by 260.4% in the 4th quarter. Mutual of America Capital Management LLC now owns 10,658 shares of the real estate investment trust’s stock worth $1,424,000 after purchasing an additional 7,701 shares during the last quarter. Institutional investors own 99.59% of the company’s stock.

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.