Sun Communities, Inc. (NYSE:SUI) Shares Bought by HB Wealth Management LLC

HB Wealth Management LLC lifted its position in shares of Sun Communities, Inc. (NYSE:SUI) by 4.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,183 shares of the real estate investment trust’s stock after buying an additional 207 shares during the quarter. HB Wealth Management LLC’s holdings in Sun Communities were worth $637,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Assetmark Inc. raised its position in Sun Communities by 2,111.1% during 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 during the last quarter. Brooklyn Investment Group purchased a new position in shares of Sun Communities during the 3rd quarter worth approximately $41,000. Point72 Hong Kong Ltd acquired a new position in shares of Sun Communities during the 3rd quarter worth approximately $60,000. Farther Finance Advisors LLC lifted its stake in Sun Communities by 89.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock valued at $68,000 after buying an additional 236 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in Sun Communities by 230.7% during the 3rd quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock valued at $84,000 after buying an additional 436 shares during the last quarter. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Sun Communities Stock Performance

Sun Communities stock opened at $128.04 on Wednesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. Sun Communities, Inc. has a 12 month low of $110.98 and a 12 month high of $147.83. The company has a market cap of $16.31 billion, a price-to-earnings ratio of 68.84, a price-to-earnings-growth ratio of 0.51 and a beta of 0.89. The stock’s 50-day moving average is $124.37 and its 200-day moving average is $129.32.

Sun Communities (NYSE:SUI) last announced its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share 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 business had revenue of $939.90 million for the quarter, compared to analyst estimates of $980.41 million. During the same period last year, the firm earned $2.57 earnings per share. The company’s quarterly revenue was down 4.4% on a year-over-year basis. Equities analysts anticipate that Sun Communities, Inc. will post 6.78 earnings per share for the current year.

Sun Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend was Tuesday, December 31st. Sun Communities’s dividend payout ratio (DPR) is presently 202.15%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on SUI shares. Royal Bank of Canada reduced their price objective on Sun Communities from $147.00 to $135.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Baird R W lowered shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. StockNews.com downgraded shares of Sun Communities from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. UBS Group downgraded shares of Sun Communities from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $155.00 to $134.00 in a research note on Thursday, November 14th. Finally, Truist Financial raised shares of Sun Communities from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Sun Communities presently has a consensus rating of “Hold” and a consensus price target of $135.69.

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.