Sun Communities, Inc. (NYSE:SUI) Shares Acquired by Advisors Asset Management Inc.

Advisors Asset Management Inc. increased its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 22.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,677 shares of the real estate investment trust’s stock after acquiring an additional 2,521 shares during the period. Advisors Asset Management Inc.’s holdings in Sun Communities were worth $1,848,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SUI. Bayesian Capital Management LP purchased a new position in shares of Sun Communities in the 1st quarter valued at about $2,221,000. Dynasty Wealth Management LLC acquired a new stake in shares of Sun Communities during the 1st quarter valued at approximately $282,000. B. Riley Wealth Advisors Inc. boosted its stake in shares of Sun Communities by 15.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,752 shares of the real estate investment trust’s stock worth $209,000 after acquiring an additional 234 shares in the last quarter. Levin Capital Strategies L.P. acquired a new stake in shares of Sun Communities in the 1st quarter worth approximately $1,093,000. Finally, California State Teachers Retirement System increased its stake in Sun Communities by 0.5% in the 1st quarter. California State Teachers Retirement System now owns 196,038 shares of the real estate investment trust’s stock valued at $25,207,000 after purchasing an additional 986 shares in the last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on SUI shares. Baird R W lowered Sun Communities from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Evercore ISI increased their price objective on shares of Sun Communities from $149.00 to $150.00 and gave the company an “in-line” rating in a research note on Monday, October 21st. Truist Financial lifted their target price on shares of Sun Communities from $127.00 to $138.00 and gave the stock a “hold” rating in a research report on Tuesday, August 13th. UBS Group cut shares of Sun Communities from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $155.00 to $134.00 in a research note on Thursday, November 14th. Finally, StockNews.com downgraded Sun Communities from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Sun Communities currently has a consensus rating of “Hold” and a consensus target price of $139.08.

Sun Communities Stock Performance

NYSE SUI opened at $127.46 on Monday. The business’s 50-day moving average price is $132.51 and its 200 day moving average price is $127.57. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. Sun Communities, Inc. has a twelve month low of $110.98 and a twelve month high of $147.83. The company has a market capitalization of $16.24 billion, a PE ratio of 68.53, a price-to-earnings-growth ratio of 0.54 and a beta of 0.91.

Sun Communities (NYSE:SUI) last announced its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.20). Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The company had revenue of $939.90 million for the quarter, compared to analysts’ expectations of $980.41 million. During the same quarter in the previous year, the company earned $2.57 earnings per share. The company’s revenue was down 4.4% on a year-over-year basis. On average, research analysts predict that Sun Communities, Inc. will post 6.78 earnings per share for the current year.

Sun Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date was Monday, September 30th. Sun Communities’s payout ratio is currently 202.15%.

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.