The price of Sun Communities Inc. (NYSE:SUI) shares last traded on Wall Street rose 0.05% to $147.95.
Based on available information, 12 analysts follow Sun Communities Inc. (NYSE:SUI). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $185.00 and a low of $152.00, we find $164.00. Given the previous closing price of $147.87, this indicates a potential upside of 10.91 percent. SUI stock price is now 3.37% away from the 50-day moving average and -3.50% away from the 200-day moving average. The market capitalization of the company currently stands at $18.12B.
Among analysts, 2 rate the stock a hold while 8 rate it a buy. Brokers who have rated the stock have averaged $164.90 as their price target over the next twelve months.
On May 11, 2022, Truist recently initiated its ‘Buy’ rating on the stock quoting a target price of $185, while ‘JMP Securities’ rates the stock as ‘Mkt Outperform’.
In other news, Thelen Bruce, EVP sold 6,892 shares of the company’s stock on Aug 09. The stock was sold for $1,139,937 at an average price of $165.40. Upon completion of the transaction, the EVP now directly owns 25,120 shares in the company, valued at $3.72 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 15, Director LEWIS CLUNET R sold 4,400 shares of the business’s stock. A total of $674,926 was realized by selling the stock at an average price of $153.39. This leaves the insider owning 26,400 shares of the company worth $3.91 million. Insiders disposed of 99,389 shares of company stock worth roughly $14.7 million over the past 1 year. A total of 1.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SUI stock. A new stake in Sun Communities Inc. shares was purchased by QUBE RESEARCH & TECHNOLOGIES LTD during the first quarter worth $33,495,000. HRT FINANCIAL LP invested $33,218,000 in shares of SUI during the first quarter. In the first quarter, EXODUSPOINT CAPITAL MANAGEMENT, LP acquired a new stake in Sun Communities Inc. valued at approximately $31,488,000. ALYESKA INVESTMENT GROUP, L.P. acquired a new stake in SUI for approximately $28,568,000. COVEA FINANCE purchased a new stake in SUI valued at around $14,289,000 in the second quarter. In total, there are 780 active investors with 97.70% ownership of the company’s stock.
A candlestick chart of Sun Communities Inc. (NYSE: SUI) showed a price of $148.25 on Monday morning. During the past 12 months, Sun Communities Inc. has had a low of $117.63 and a high of $195.46. The fifty day moving average price for SUI is $143.39 and a two-hundred day moving average price translates $153.15 for the stock.
The latest earnings results from Sun Communities Inc. (NYSE: SUI) was released for Sep, 2022. According to the REIT – Residential Company, earnings per share came in at $1.32, missing analysts’ expectations of $1.37 by -0.05. This compares to $2.00 EPS in the same period last year. The net profit margin was 8.80% and return on equity was 3.40% for SUI. The company reported revenue of $932.6 million for the quarter, compared to $684.3 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 36.29 percent. For the current quarter, analysts expect SUI to generate $665.25M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 01/17/2023. Investors who held shares on 12/30/2022 were paid a $0.88 dividend. On an annualized basis, this represents a $3.52 dividend and a 2.38% percent yield. There was an ex-dividend date of 12/29/2022 for this dividend. In terms of dividend payout ratio, SUI is presently at 125.60%.
Sun Communities Inc.(SUI) Company Profile
Sun Communities, Inc. is a REIT that, as of March 31, 2022, owned, operated, or had an interest in a portfolio of 603 developed MH, RV and marina properties comprising nearly 159,300 developed sites and over 45,700 wet slips and dry storage spaces in 39 states, Canada, Puerto Rico and the UK.