Sun Communities, Inc. (NYSE:SUI) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers lessened its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 6.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,836 shares of the real estate investment trust’s stock after selling 435 shares during the quarter. Cetera Investment Advisers’ holdings in Sun Communities were worth $751,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in Sun Communities during the fourth quarter worth approximately $16,051,000. Mariner LLC lifted its holdings in Sun Communities by 5.0% in the fourth quarter. Mariner LLC now owns 11,601 shares of the real estate investment trust’s stock valued at $1,427,000 after acquiring an additional 556 shares during the period. Farringdon Capital Ltd. acquired a new stake in Sun Communities in the fourth quarter valued at $403,000. CANADA LIFE ASSURANCE Co boosted its position in shares of Sun Communities by 6.7% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 176,926 shares of the real estate investment trust’s stock worth $21,739,000 after buying an additional 11,087 shares in the last quarter. Finally, Capital International Investors purchased a new stake in shares of Sun Communities in the 4th quarter worth about $54,709,000. Institutional investors and hedge funds own 99.59% of the company’s stock.

Insider Activity at Sun Communities

In other Sun Communities news, Director Jeff Blau purchased 3,665 shares of the stock in a transaction dated Friday, May 23rd. The shares were bought at an average cost of $117.99 per share, with a total value of $432,433.35. Following the completion of the acquisition, the director owned 3,665 shares of the company’s stock, valued at approximately $432,433.35. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SUI shares. Wall Street Zen raised shares of Sun Communities from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. JMP Securities reissued a “market outperform” rating and issued a $140.00 target price on shares of Sun Communities in a research note on Tuesday, May 20th. Bank of America upped their price objective on shares of Sun Communities from $124.00 to $132.00 and gave the company an “underperform” rating in a research note on Monday, May 12th. Colliers Securities assumed coverage on Sun Communities in a report on Friday, June 13th. They set a “neutral” rating and a $130.00 target price for the company. Finally, Royal Bank Of Canada decreased their target price on Sun Communities from $147.00 to $143.00 and set an “outperform” rating for the company in a report on Friday, August 1st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $138.43.

Sun Communities Stock Down 0.7%

NYSE SUI opened at $127.04 on Friday. The stock has a market cap of $15.90 billion, a PE ratio of 12.43, a P/E/G ratio of 6.61 and a beta of 0.83. The company has a quick ratio of 7.08, a current ratio of 7.08 and a debt-to-equity ratio of 0.55. The business has a 50 day moving average price of $125.39 and a two-hundred day moving average price of $125.74. Sun Communities, Inc. has a fifty-two week low of $109.22 and a fifty-two week high of $147.83.

Sun Communities (NYSE:SUI) last posted its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.09. The business had revenue of $623.50 million for the quarter, compared to analyst estimates of $614.79 million. Sun Communities had a negative return on equity of 0.60% and a net margin of 48.86%. During the same period in the prior year, the company posted $1.86 EPS. As a group, sell-side analysts predict that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 3.3%. This is a positive change from Sun Communities’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Monday, June 30th. Sun Communities’s dividend payout ratio is 40.70%.

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 December 31, 2023, the Company owned, operated, or had an interest in a portfolio of 667 developed MH, RV and Marina properties comprising 179,310 developed sites and approximately 48,030 wet slips and dry storage spaces in the U.S., the UK and Canada.