Sun Communities, Inc. has been earning stellar reviews from analysts across the board who have recently covered the firm, according to Bloomberg Ratings reports. With an average rating of “Moderate Buy” from eleven reputable industry professionals, it’s clear that Sun Communities is making steady strides towards a strong future. While one equities research analyst has rated the stock with a sell recommendation, two others have issued hold recommendations while five more have recommended buying in on this up-and-coming entity. Holders of Sun Communities’ shares are also seeing increased returns over time as evidenced by the average 12-month target price among those who cover the stock at $166.63.
Adding further value to their growing popularity is Sun Communities’ recent announcement of its quarterly dividend schedule. On Monday, April 17th investors will be rewarded for their participation as cash dividends shrink their previous quarterly payout ratio from $0.88 down to $0.93 per share; which translates into an annualized dividend yield of a sizeable 2.67%. The importance of dividends in stock ownership cannot be overstated and Sun Communities seems cognizant that it’s important to keep it’s stakeholders happy.
This level of visibility and momentum has certainly not gone unnoticed by institutional investors, whose significantly modified holdings in the company are indicative of potential growth forecasted throughout 2017 and beyond. Glassman Wealth Services boosted its stake in Sun Communities by a staggering 114.1% during the fourth quarter while Johnson Financial Group Inc.’s stake increased by an impressive 485.7%.Even Huntington National Bank seemingly doubling down on its originally modest investment: they now own 209 shares worth over $28k compared to their initial small acquisition last year.
With such impressive accolades backing them up and smart strategic expansion front and center, it’s clear that Sun Communities is one to watch this year – financial experts eagerly await what Springtime will bring forth for this burgeoning developmental estate company.
Sun Communities: Research Reports Impact Share Price and Market Volatility
Sun Communities, a real estate investment trust that specializes in the ownership and management of manufactured housing and recreational vehicle communities, has been under the radar lately due to several research reports that have been issued about the company. These reports have impacted the share price of Sun Communities by causing fluctuations in the market.
One research firm, JMP Securities, has reissued its “market outperform” rating on Sun Communities while setting a $160.00 target price for its shares. Another firm, Truist Financial, has lowered its price objective from $166.00 to $163.00 but still maintained its “buy” rating for the company’s shares.
Wells Fargo & Company also started covering Sun Communities and gave it an “equal weight” rating along with a $151.00 price objective for its shares. Lastly, StockNews.com raised a red flag on Sun Communities and downgraded it to a “sell” rating in one of its recent research reports.
Apart from these research reports, Director Clunet R. Lewis sold 1,500 shares of Sun Communities’ stock at an average price of $148.51 per share. This sale amounted to $222,765.00 in total transaction value with 2.25% of the company’s stock currently owned by corporate insiders.
As far as market performance goes, Sun Communities’ shares were priced at $139.13 when they opened on Tuesday following prior high and low records of $193.67 and $117.63 respectively over the last year. The company’s current market capitalization is noted at a whopping $17.31 billion; its P/E ratio stands at 70.27 while carrying a PEG ratio of 2.89 along with a beta factor of 0.70.
Sun Communities’ debt-to-equity ratio is recorded at 0.89 coupled with quick and current ratios standing at 2:11 each which shows financial stability. Furthermore, the company’s 50-day moving average is priced at $146.35 while its 200-day moving average is noted at $141.66.
In conclusion, Sun Communities continues to attract attention from various research firms whose ratings and price objectives have resulted in volatility within the market. Though insiders have been selling their shares, the company boasts of financial stability and a strong position in the real estate investment trust sector with its manufactured housing and recreational vehicle communities portfolio.