Shares of Sun Communities Inc (NYSE:SUI) have received an average rating of “Hold” from the eight ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $107.60.
A number of research firms recently commented on SUI. Citigroup set a $110.00 price target on shares of Sun Communities and gave the stock a “hold” rating in a research report on Wednesday, December 12th. Zacks Investment Research lowered shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st.
In other Sun Communities news, COO John Bandini Mclaren sold 2,400 shares of the stock in a transaction dated Friday, November 30th. The shares were sold at an average price of $103.42, for a total transaction of $248,208.00. Following the sale, the chief operating officer now directly owns 152,624 shares in the company, valued at $15,784,374.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.69% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Quadrant Capital Group LLC grew its stake in Sun Communities by 20.9% during the fourth quarter. Quadrant Capital Group LLC now owns 838 shares of the real estate investment trust’s stock worth $81,000 after buying an additional 145 shares in the last quarter. IFP Advisors Inc grew its stake in Sun Communities by 13.5% during the fourth quarter. IFP Advisors Inc now owns 3,208 shares of the real estate investment trust’s stock worth $323,000 after buying an additional 382 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Sun Communities by 5.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 8,300 shares of the real estate investment trust’s stock worth $844,000 after buying an additional 400 shares in the last quarter. Global Endowment Management LP grew its stake in Sun Communities by 3.3% during the third quarter. Global Endowment Management LP now owns 15,880 shares of the real estate investment trust’s stock worth $1,612,000 after buying an additional 500 shares in the last quarter. Finally, United Services Automobile Association boosted its stake in shares of Sun Communities by 4.2% in the 2nd quarter. United Services Automobile Association now owns 12,741 shares of the real estate investment trust’s stock valued at $1,247,000 after purchasing an additional 516 shares in the last quarter. Hedge funds and other institutional investors own 93.41% of the company’s stock.
NYSE:SUI opened at $111.59 on Wednesday. Sun Communities has a 52 week low of $80.12 and a 52 week high of $111.70. The stock has a market cap of $9.59 billion, a P/E ratio of 26.76, a price-to-earnings-growth ratio of 3.53 and a beta of 0.28.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st were paid a dividend of $0.71 per share. The ex-dividend date was Friday, December 28th. This represents a $2.84 dividend on an annualized basis and a yield of 2.55%. Sun Communities’s payout ratio is 68.11%.
Sun Communities Company Profile
Sun Communities, Inc is a REIT that, as of September 30, 2018, owned, operated, or had an interest in a portfolio of 370 communities comprising over 127,000 developed sites in 31 states and Ontario, Canada.
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