Atria Wealth Solutions Inc. Sells 215 Shares of Sun Communities, Inc. (NYSE:SUI)

Atria Wealth Solutions Inc. trimmed its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 9.1% during the second quarter, HoldingsChannel.com reports. The firm owned 2,152 shares of the real estate investment trust’s stock after selling 215 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Sun Communities were worth $283,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Eagle Bay Advisors LLC purchased a new stake in shares of Sun Communities in the second quarter worth about $27,000. V Square Quantitative Management LLC bought a new position in Sun Communities in the 2nd quarter valued at $31,000. Headlands Technologies LLC bought a new position in shares of Sun Communities in the first quarter worth $39,000. Clearstead Advisors LLC raised its position in shares of Sun Communities by 732.8% in the first quarter. Clearstead Advisors LLC now owns 483 shares of the real estate investment trust’s stock worth $68,000 after buying an additional 425 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC boosted its stake in Sun Communities by 29.9% during the second quarter. Sugarloaf Wealth Management LLC now owns 634 shares of the real estate investment trust’s stock valued at $83,000 after buying an additional 146 shares during the period. Hedge funds and other institutional investors own 94.79% of the company’s stock.

Sun Communities Stock Up 0.3 %

SUI opened at $114.72 on Monday. Sun Communities, Inc. has a 12 month low of $102.74 and a 12 month high of $163.83. The company has a current ratio of 2.65, a quick ratio of 2.65 and a debt-to-equity ratio of 0.94. The business’s 50-day moving average price is $115.49 and its 200-day moving average price is $125.20. The company has a market cap of $14.28 billion, a P/E ratio of 62.69, a P/E/G ratio of 5.45 and a beta of 0.73.

Sun Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were given a $0.93 dividend. The ex-dividend date was Thursday, September 28th. This represents a $3.72 annualized dividend and a yield of 3.24%. Sun Communities’s payout ratio is currently 203.28%.

Wall Street Analysts Forecast Growth

SUI has been the topic of a number of research analyst reports. Barclays decreased their target price on Sun Communities from $158.00 to $157.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 19th. Bank of America lowered shares of Sun Communities from a “buy” rating to a “neutral” rating and dropped their target price for the company from $148.00 to $128.00 in a research report on Monday, October 2nd. Truist Financial increased their price target on shares of Sun Communities from $118.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, November 6th. BMO Capital Markets dropped their price objective on shares of Sun Communities from $148.00 to $143.00 and set an “outperform” rating for the company in a report on Monday, September 11th. Finally, Compass Point reduced their target price on Sun Communities from $125.00 to $116.00 and set a “neutral” rating on the stock in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $143.91.

Insider Activity

In related news, EVP Marc Farrugia sold 4,962 shares of Sun Communities stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $123.90, for a total value of $614,791.80. Following the transaction, the executive vice president now directly owns 5,093 shares of the company’s stock, valued at $631,022.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Sun Communities news, CEO Baxter Underwood acquired 400 shares of the company’s stock in a transaction on Tuesday, August 22nd. The stock was acquired at an average price of $119.93 per share, for a total transaction of $47,972.00. Following the acquisition, the chief executive officer now owns 73,633 shares in the company, valued at approximately $8,830,805.69. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Marc Farrugia sold 4,962 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $123.90, for a total value of $614,791.80. Following the transaction, the executive vice president now directly owns 5,093 shares in the company, valued at $631,022.70. The disclosure for this sale can be found here. Insiders own 2.06% of the company’s stock.

Sun Communities Company Profile

Established in 1975, Sun Communities, Inc became a publicly owned corporation in December 1993. The Company is a fully integrated REIT listed on the New York Stock Exchange under the symbol: SUI. As of September 30, 2023, the Company owned, operated, or had an interest in a portfolio of 670 developed MH, RV and Marina properties comprising approximately 180,170 developed sites and approximately 48,030 wet slips and dry storage spaces in the U.S., the UK and Canada.