Sun Communities, Inc. (NYSE:SUI) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC decreased its position in Sun Communities, Inc. (NYSE:SUI) by 1.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 12,784 shares of the real estate investment trust’s stock after selling 126 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Sun Communities were worth $1,728,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of SUI. Assetmark Inc. increased its stake in shares of Sun Communities by 2,111.1% in the 3rd quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 190 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Sun Communities in the third quarter valued at approximately $41,000. Quest Partners LLC increased its position in shares of Sun Communities by 12,700.0% in the second quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 381 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Sun Communities during the 3rd quarter worth approximately $60,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Sun Communities by 89.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock worth $68,000 after buying an additional 236 shares during the period. Institutional investors and hedge funds own 99.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SUI shares. StockNews.com lowered shares of Sun Communities from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Bank of America cut shares of Sun Communities from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $147.00 to $114.00 in a research note on Tuesday, November 12th. Jefferies Financial Group decreased their price target on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Baird R W cut Sun Communities from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Evercore ISI increased their target price on Sun Communities from $149.00 to $150.00 and gave the company an “in-line” rating in a report on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $135.69.

Sun Communities Stock Down 0.8 %

Shares of NYSE:SUI opened at $121.28 on Wednesday. Sun Communities, Inc. has a 52-week low of $110.98 and a 52-week high of $147.83. The stock has a market cap of $15.45 billion, a P/E ratio of 65.20, a PEG ratio of 0.51 and a beta of 0.89. The business has a fifty day moving average of $124.59 and a two-hundred day moving average of $129.15. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The firm had revenue of $939.90 million during the quarter, compared to analysts’ expectations of $980.41 million. During the same period in the prior year, the company posted $2.57 EPS. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. On average, research analysts expect that Sun Communities, Inc. will post 6.78 earnings per share for the current year.

Sun Communities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend is Tuesday, December 31st. Sun Communities’s payout ratio is presently 202.15%.

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.