ZolmaxNews reports Sun Communities, Inc. (SUI) of Southfield, Mich. says it will pay a quarterly dividend of $0.63 per share on Friday, April 19 to investors of record April 1, 2013. Representing a $2.52 annualized dividend, the dividend yield is 5.29 percent. BMO Capital Markets, commenting on the stock, upgraded its rating from “market perform” to “outperform,” projecting a price target of $52.00. Sun’s stock was up 3.25 percent at the close of Friday’s trading at $47.68. The company has a market cap of $1.509 billion and a P/E ratio of 256.56. Analysts forecast Sun will gain $3.50 earnings per share this fiscal year. As MHProNews knows, Sun is a real estate investment trust (REIT) which owns and operates 183 manufactured home and RV communities comprised of 67,380 sites.

(Photo credit: Sun Communities, Inc.)