Wealth Enhancement Advisory Services LLC Cuts Stake in Sun Communities, Inc. $SUI

Wealth Enhancement Advisory Services LLC reduced its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 0.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,058 shares of the real estate investment trust’s stock after selling 104 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Sun Communities were worth $1,688,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SUI. Twin Tree Management LP acquired a new position in Sun Communities during the 1st quarter worth approximately $29,000. Opal Wealth Advisors LLC acquired a new position in Sun Communities during the 1st quarter worth approximately $29,000. Ransom Advisory Ltd acquired a new position in Sun Communities during the 1st quarter worth approximately $31,000. GKV Capital Management Co. Inc. acquired a new position in Sun Communities during the 1st quarter worth approximately $42,000. Finally, Parallel Advisors LLC grew its holdings in Sun Communities by 66.4% during the 1st quarter. Parallel Advisors LLC now owns 476 shares of the real estate investment trust’s stock worth $61,000 after acquiring an additional 190 shares in the last quarter. 99.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Morgan Stanley set a $142.00 price target on shares of Sun Communities in a report on Thursday, September 4th. Wall Street Zen upgraded shares of Sun Communities from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Robert W. Baird boosted their price target on shares of Sun Communities from $126.00 to $134.00 and gave the stock a “neutral” rating in a report on Monday, August 11th. Deutsche Bank Aktiengesellschaft set a $135.00 price target on shares of Sun Communities and gave the stock a “hold” rating in a report on Wednesday, June 25th. Finally, Wells Fargo & Company lowered their price target on shares of Sun Communities from $135.00 to $132.00 and set an “equal weight” rating for the company in a report on Wednesday, August 27th. Six research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $137.86.

Sun Communities Trading Up 0.3%

Shares of Sun Communities stock opened at $129.01 on Tuesday. The company has a fifty day simple moving average of $126.34 and a 200-day simple moving average of $125.50. Sun Communities, Inc. has a 12-month low of $109.22 and a 12-month high of $140.49. The stock has a market cap of $16.15 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 6.64 and a beta of 0.86. The company has a current ratio of 7.08, a quick ratio of 7.08 and a debt-to-equity ratio of 0.55.

Sun Communities (NYSE:SUI) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $1.76 EPS for the quarter, beating the consensus estimate of $1.67 by $0.09. Sun Communities had a net margin of 48.86% and a negative return on equity of 0.60%. The firm had revenue of $623.50 million during the quarter, compared to the consensus estimate of $614.79 million. During the same quarter in the prior year, the firm earned $1.86 EPS. Sun Communities has set its FY 2025 guidance at 6.510-6.670 EPS. Q3 2025 guidance at 2.130-2.230 EPS. On average, equities analysts forecast that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a $1.04 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $4.16 annualized dividend and a yield of 3.2%. Sun Communities’s dividend payout ratio is 40.70%.

About Sun Communities

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.