Avior Wealth Management LLC Acquires 396 Shares of Sun Communities, Inc. (NYSE:SUI)

Avior Wealth Management LLC lifted its holdings in Sun Communities, Inc. (NYSE:SUI) by 10.6% in the fourth quarter, Holdings Channel reports. The fund owned 4,123 shares of the real estate investment trust’s stock after purchasing an additional 396 shares during the quarter. Avior Wealth Management LLC’s holdings in Sun Communities were worth $551,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of Sun Communities by 2.6% in the first quarter. BlackRock Inc. now owns 10,936,309 shares of the real estate investment trust’s stock valued at $1,540,707,000 after acquiring an additional 273,133 shares during the period. JPMorgan Chase & Co. raised its position in Sun Communities by 18.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,567,246 shares of the real estate investment trust’s stock worth $777,168,000 after purchasing an additional 1,040,076 shares during the period. State Street Corp raised its position in Sun Communities by 1.5% in the 1st quarter. State Street Corp now owns 5,879,907 shares of the real estate investment trust’s stock worth $833,364,000 after purchasing an additional 85,103 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Sun Communities by 1.9% in the third quarter. Principal Financial Group Inc. now owns 4,523,701 shares of the real estate investment trust’s stock worth $535,331,000 after buying an additional 84,767 shares during the period. Finally, Daiwa Securities Group Inc. lifted its stake in shares of Sun Communities by 4.5% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,565,944 shares of the real estate investment trust’s stock worth $303,653,000 after acquiring an additional 109,598 shares during the last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SUI shares. Truist Financial reduced their target price on Sun Communities from $143.00 to $136.00 and set a “hold” rating on the stock in a research note on Monday, March 18th. JMP Securities restated a “market outperform” rating and issued a $150.00 target price on shares of Sun Communities in a research note on Wednesday, March 20th. Barclays reduced their price objective on Sun Communities from $157.00 to $155.00 and set an “overweight” rating on the stock in a report on Friday, January 26th. BMO Capital Markets lowered their target price on Sun Communities from $143.00 to $140.00 and set an “outperform” rating for the company in a report on Monday, January 22nd. Finally, Compass Point lifted their price objective on Sun Communities from $116.00 to $125.00 and gave the company a “neutral” rating in a report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $141.17.

Sun Communities Price Performance

Shares of SUI stock opened at $117.95 on Friday. The company has a market cap of $14.70 billion, a P/E ratio of 103.47, a PEG ratio of 7.57 and a beta of 0.80. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.66 and a quick ratio of 1.66. The stock’s 50-day moving average is $128.05 and its 200 day moving average is $125.04. Sun Communities, Inc. has a 1-year low of $102.74 and a 1-year high of $141.52.

Sun Communities Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a $0.94 dividend. This is a boost from Sun Communities’s previous quarterly dividend of $0.93. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date was Wednesday, March 27th. Sun Communities’s dividend payout ratio (DPR) is currently 329.83%.

Insider Transactions at Sun Communities

In related news, CEO Baxter Underwood sold 4,000 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $131.48, for a total transaction of $525,920.00. Following the completion of the sale, the chief executive officer now owns 66,852 shares of the company’s stock, valued at $8,789,700.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Sun Communities news, Director Craig Leupold sold 2,500 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $128.39, for a total value of $320,975.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Baxter Underwood sold 4,000 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $131.48, for a total value of $525,920.00. Following the sale, the chief executive officer now owns 66,852 shares in the company, valued at approximately $8,789,700.96. The disclosure for this sale can be found here. Insiders have sold a total of 7,000 shares of company stock valued at $912,460 in the last 90 days. Insiders own 1.89% of the company’s stock.

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.