Sun Communities, Inc. (NYSE:SUI) Stock Holdings Boosted by Avior Wealth Management LLC

Avior Wealth Management LLC lifted its position in Sun Communities, Inc. (NYSE:SUI) by 3.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,328 shares of the real estate investment trust’s stock after buying an additional 125 shares during the period. Avior Wealth Management LLC’s holdings in Sun Communities were worth $585,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Assetmark Inc. raised its position in Sun Communities by 2,111.1% in the third quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 190 shares in the last quarter. Quest Partners LLC raised its holdings in shares of Sun Communities by 12,700.0% in the 2nd quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 381 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in Sun Communities during the second quarter valued at approximately $62,000. Farther Finance Advisors LLC lifted its stake in Sun Communities by 89.1% during the third quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock valued at $68,000 after purchasing an additional 236 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in Sun Communities by 230.7% during the third quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock worth $84,000 after buying an additional 436 shares in the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Analyst Upgrades and Downgrades

SUI has been the subject of a number of recent research reports. Royal Bank of Canada cut their price objective on Sun Communities from $147.00 to $135.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Baird R W downgraded Sun Communities from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Jefferies Financial Group started coverage on Sun Communities in a research note on Thursday, October 17th. They issued a “buy” rating and a $160.00 price target on the stock. Evercore ISI upped 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. Finally, Bank of America downgraded shares of Sun Communities from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $147.00 to $114.00 in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $139.08.

Sun Communities Stock Performance

Shares of SUI stock opened at $128.52 on Friday. Sun Communities, Inc. has a fifty-two week low of $110.98 and a fifty-two week high of $147.83. The stock’s 50-day moving average is $132.91 and its two-hundred day moving average is $127.33. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. The firm has a market cap of $16.37 billion, a P/E ratio of 69.10, a PEG ratio of 0.53 and a beta of 0.91.

Sun Communities (NYSE:SUI) last issued 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 net margin of 7.46% and a return on equity of 3.21%. The business had revenue of $939.90 million for the quarter, compared to the consensus estimate of $980.41 million. During the same period in the previous year, the business posted $2.57 EPS. Sun Communities’s revenue was down 4.4% compared to the same quarter last year. Analysts predict that Sun Communities, Inc. will post 6.78 earnings per share for the current fiscal year.

Sun Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.94 per share. The ex-dividend date was Monday, September 30th. This represents a $3.76 annualized dividend and a yield of 2.93%. Sun Communities’s dividend payout ratio (DPR) is currently 202.15%.

Sun Communities 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.