Sun Communities (SUI) Lowered to Neutral at Robert W. Baird
Robert W. Baird lowered shares of Sun Communities (NYSE:SUI) from an outperform rating to a neutral rating in a report released on Friday, January 5th, MarketBeat Ratings reports. Robert W. Baird currently has $95.00 target price on the real estate investment trust’s stock, down from their previous target price of $100.00.
Several other equities research analysts have also commented on the stock. Zacks Investment Research upgraded shares of Sun Communities from a sell rating to a hold rating in a research note on Thursday, November 2nd. BMO Capital Markets reiterated a buy rating and issued a $96.00 price objective on shares of Sun Communities in a research note on Monday, October 23rd. Royal Bank of Canada increased their price objective on shares of Sun Communities from $95.00 to $96.00 and gave the company an outperform rating in a research note on Thursday, October 26th. ValuEngine upgraded shares of Sun Communities from a hold rating to a buy rating in a research note on Tuesday, November 14th. Finally, Evercore ISI upgraded shares of Sun Communities from an in-line rating to an outperform rating and set a $86.00 price target for the company in a research note on Monday, December 4th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $93.57.
Sun Communities (SUI) traded down $1.42 during trading hours on Friday, reaching $88.03. 527,304 shares of the company’s stock traded hands, compared to its average volume of 385,521. The stock has a market cap of $7,097.19, a price-to-earnings ratio of 120.88, a price-to-earnings-growth ratio of 3.12 and a beta of 0.27. Sun Communities has a 52-week low of $77.81 and a 52-week high of $96.08.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were paid a dividend of $0.67 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $2.68 annualized dividend and a dividend yield of 3.04%. Sun Communities’s payout ratio is currently 362.16%.
In other news, EVP Jonathan Colman sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $93.21, for a total transaction of $186,420.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.15% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SUI. SG Americas Securities LLC boosted its holdings in Sun Communities by 33.3% in the 2nd quarter. SG Americas Securities LLC now owns 4,822 shares of the real estate investment trust’s stock worth $423,000 after buying an additional 1,204 shares during the period. Comerica Bank boosted its holdings in Sun Communities by 4.7% in the 2nd quarter. Comerica Bank now owns 3,265 shares of the real estate investment trust’s stock worth $291,000 after buying an additional 148 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Sun Communities by 19.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,323 shares of the real estate investment trust’s stock worth $467,000 after buying an additional 861 shares during the period. Pacad Investment Ltd. bought a new position in Sun Communities in the 2nd quarter worth approximately $280,000. Finally, Swiss National Bank boosted its holdings in Sun Communities by 14.2% in the 2nd quarter. Swiss National Bank now owns 130,531 shares of the real estate investment trust’s stock worth $11,446,000 after buying an additional 16,200 shares during the period. 93.12% of the stock is owned by institutional investors.
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Sun Communities Company Profile
Sun Communities, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company is a fully integrated real estate company, which, together with its affiliates and predecessors, has been in the business of acquiring, operating, developing, and expanding manufactured housing (MH) and recreational vehicle (RV).
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