Sun Communities, Inc. (NYSE:SUI) Shares Sold by IFP Advisors Inc

IFP Advisors Inc cut its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 6.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,063 shares of the real estate investment trust’s stock after selling 198 shares during the period. IFP Advisors Inc’s holdings in Sun Communities were worth $377,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SUI. International Assets Investment Management LLC increased its position in shares of Sun Communities by 13,314.2% during the third quarter. International Assets Investment Management LLC now owns 17,975 shares of the real estate investment trust’s stock valued at $2,429,000 after acquiring an additional 17,841 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Sun Communities by 5.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,338 shares of the real estate investment trust’s stock valued at $862,000 after acquiring an additional 308 shares during the last quarter. abrdn plc grew its holdings in shares of Sun Communities by 6.6% in the third quarter. abrdn plc now owns 62,674 shares of the real estate investment trust’s stock valued at $8,470,000 after purchasing an additional 3,886 shares in the last quarter. First Trust Direct Indexing L.P. acquired a new position in shares of Sun Communities in the third quarter valued at approximately $235,000. Finally, Farther Finance Advisors LLC grew its holdings in shares of Sun Communities by 89.1% in 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 in the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. BMO Capital Markets dropped their price objective on shares of Sun Communities from $145.00 to $138.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Jefferies Financial Group dropped their price objective on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Wells Fargo & Company dropped their price objective on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. UBS Group cut shares of Sun Communities from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $155.00 to $134.00 in a report on Thursday, November 14th. Finally, Royal Bank of Canada dropped their price objective on shares of Sun Communities from $147.00 to $135.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $134.55.

Sun Communities Stock Up 2.3 %

Shares of Sun Communities stock opened at $136.29 on Friday. Sun Communities, Inc. has a 52-week low of $110.98 and a 52-week high of $147.83. The company has a 50 day moving average of $125.82 and a 200 day moving average of $129.61. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $17.36 billion, a P/E ratio of 73.27 and a beta of 0.90.

Sun Communities (NYSE:SUI) last issued its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.02. The business had revenue of $745.90 million during the quarter, compared to the consensus estimate of $724.68 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. As a group, research analysts forecast that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.94 per share. The ex-dividend date was Tuesday, December 31st. This represents a $3.76 annualized dividend and a dividend yield of 2.76%. Sun Communities’s dividend payout ratio is presently 508.11%.

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.