Sun Communities Inc (NYSE:SUI)’s stock price was up 5.8% during mid-day trading on Thursday after BMO Capital Markets raised their price target on the stock from $160.00 to $165.00. BMO Capital Markets currently has an outperform rating on the stock. Sun Communities traded as high as $149.38 and last traded at $148.83. Approximately 3,122,408 shares changed hands during mid-day trading, an increase of 387% from the average daily volume of 641,363 shares. The stock had previously closed at $140.61.
Several other equities analysts have also issued reports on the company. Berenberg Bank assumed coverage on Sun Communities in a research note on Thursday. They issued a “buy” rating and a $170.00 price target on the stock. Citigroup lifted their target price on Sun Communities from $140.00 to $150.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. TheStreet raised shares of Sun Communities from a “c+” rating to a “b-” rating in a report on Friday, July 24th. Royal Bank of Canada lifted their price target on shares of Sun Communities from $147.00 to $151.00 and gave the company an “outperform” rating in a report on Tuesday, July 28th. Finally, Zacks Investment Research cut shares of Sun Communities from a “buy” rating to a “hold” rating in a research report on Wednesday, July 29th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $157.29.
In other news, Director Clunet R. Lewis sold 4,000 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $144.50, for a total transaction of $578,000.00. Following the completion of the transaction, the director now owns 28,800 shares of the company’s stock, valued at $4,161,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.72% of the company’s stock.
The stock’s 50-day moving average price is $145.18 and its 200-day moving average price is $136.51. The company has a current ratio of 5.39, a quick ratio of 5.39 and a debt-to-equity ratio of 0.75. The stock has a market cap of $14.63 billion, a price-to-earnings ratio of 107.85, a P/E/G ratio of 4.28 and a beta of 0.47.
Sun Communities (NYSE:SUI) last announced its earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.57). The firm had revenue of $303.27 million for the quarter, compared to the consensus estimate of $311.24 million. Sun Communities had a return on equity of 3.93% and a net margin of 10.37%. As a group, analysts predict that Sun Communities Inc will post 4.93 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Tuesday, September 29th. Sun Communities’s dividend payout ratio (DPR) is presently 64.23%.
Sun Communities Company Profile (NYSE:SUI)
Sun Communities, Inc is a REIT that, as of March 31, 2019, owned, operated, or had an interest in a portfolio of 379 communities comprising over 132,000 developed sites in 31 states and Ontario, Canada.
Further Reading: What is the NASDAQ Stock Market?
Receive News & Ratings for Sun Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sun Communities and related companies with MarketBeat.com's FREE daily email newsletter.