Sun Communities (NYSE:SUI) Cut to Sell at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen lowered shares of Sun Communities (NYSE:SUI – Free Report) from a hold rating to a sell rating in a research note released on Saturday morning.

A number of other research analysts have also recently commented on SUI. Truist Financial boosted their price target on Sun Communities from $137.00 to $141.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Jefferies Financial Group raised shares of Sun Communities to a “strong-buy” rating in a report on Monday, October 20th. Wells Fargo & Company cut their target price on shares of Sun Communities from $135.00 to $132.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 27th. Evercore ISI lifted their price target on shares of Sun Communities from $136.00 to $138.00 and gave the company an “in-line” rating in a report on Monday, September 15th. Finally, Morgan Stanley set a $142.00 price objective on shares of Sun Communities in a report on Thursday, September 4th. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $137.29.

Check Out Our Latest Report on SUI

Sun Communities Stock Down 1.8%

Shares of SUI stock opened at $124.35 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 7.08 and a quick ratio of 7.08. Sun Communities has a one year low of $109.22 and a one year high of $137.77. The company’s fifty day moving average price is $126.44 and its 200-day moving average price is $125.34. The company has a market capitalization of $15.56 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 4.05 and a beta of 0.86.

Sun Communities (NYSE:SUI – Get Free Report) last issued its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $0.10. Sun Communities had a negative return on equity of 4.51% and a net margin of 42.58%.The business had revenue of $697.20 million during the quarter, compared to analyst estimates of $713.32 million. During the same quarter in the prior year, the business posted $2.34 EPS. Sun Communities’s revenue for the quarter was up 2.5% compared to the same quarter last year. Sun Communities has set its Q4 2025 guidance at 1.310-1.390 EPS. FY 2025 guidance at 6.590-6.670 EPS. Sell-side analysts expect that Sun Communities will post 6.77 EPS for the current fiscal year.

Sun Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a $1.04 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 3.3%. Sun Communities’s dividend payout ratio (DPR) is presently 52.13%.

Institutional Investors Weigh In On Sun Communities

Several institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new stake in Sun Communities during the 2nd quarter valued at $925,926,000. Dodge & Cox increased its position in Sun Communities by 42.1% during the first quarter. Dodge & Cox now owns 13,647,820 shares of the real estate investment trust’s stock valued at $1,755,656,000 after acquiring an additional 4,041,802 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Sun Communities in the first quarter valued at $112,395,000. Deutsche Bank AG raised its stake in shares of Sun Communities by 103.7% in the first quarter. Deutsche Bank AG now owns 1,611,425 shares of the real estate investment trust’s stock valued at $207,294,000 after acquiring an additional 820,422 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Sun Communities by 10.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,118,054 shares of the real estate investment trust’s stock worth $787,029,000 after acquiring an additional 568,514 shares during the last quarter. 99.59% of the stock is owned by institutional investors.

About Sun Communities

(Get Free Report)

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.

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