Sun Communities (SUI) Upgraded at ValuEngine
ValuEngine upgraded shares of Sun Communities (NYSE:SUI) from a hold rating to a buy rating in a research note published on Tuesday morning.
A number of other brokerages have also issued reports on SUI. Robert W. Baird upgraded Sun Communities from a neutral rating to an outperform rating in a research note on Wednesday, February 7th. Zacks Investment Research lowered Sun Communities from a buy rating to a hold rating and set a $102.00 target price for the company. in a research note on Thursday, April 12th. TheStreet upgraded Sun Communities from a c+ rating to a b- rating in a research note on Monday, April 23rd. Wells Fargo & Co raised their target price on Sun Communities from $94.00 to $99.00 and gave the stock an outperform rating in a research note on Tuesday. Finally, BMO Capital Markets set a $97.00 target price on Sun Communities and gave the stock a buy rating in a research note on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $96.17.
Shares of Sun Communities opened at $96.68 on Tuesday, Marketbeat.com reports. The firm has a market capitalization of $7.61 billion, a P/E ratio of 23.18, a PEG ratio of 3.32 and a beta of 0.11. Sun Communities has a 1 year low of $80.12 and a 1 year high of $97.18.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Shareholders of record on Friday, June 29th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.94%. The ex-dividend date is Thursday, June 28th. Sun Communities’s dividend payout ratio is currently 68.11%.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Suntrust Banks Inc. grew its position in Sun Communities by 3.4% during the 1st quarter. Suntrust Banks Inc. now owns 29,426 shares of the real estate investment trust’s stock worth $2,687,000 after purchasing an additional 956 shares during the period. Allianz Asset Management GmbH grew its position in Sun Communities by 82.2% during the 1st quarter. Allianz Asset Management GmbH now owns 547,789 shares of the real estate investment trust’s stock worth $50,051,000 after purchasing an additional 247,103 shares during the period. WINTON GROUP Ltd acquired a new stake in Sun Communities during the 1st quarter worth about $2,957,000. Xact Kapitalforvaltning AB grew its position in Sun Communities by 90.1% during the 1st quarter. Xact Kapitalforvaltning AB now owns 9,916 shares of the real estate investment trust’s stock worth $906,000 after purchasing an additional 4,700 shares during the period. Finally, Royal Bank of Canada grew its position in Sun Communities by 12.4% during the 1st quarter. Royal Bank of Canada now owns 92,013 shares of the real estate investment trust’s stock worth $8,407,000 after purchasing an additional 10,171 shares during the period. 93.47% of the stock is currently owned by institutional investors.
About Sun Communities
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