Crewe Advisors LLC Takes Position in Sun Communities, Inc. (NYSE:SUI)

Crewe Advisors LLC purchased a new stake in shares of Sun Communities, Inc. (NYSE:SUI) during the first quarter, HoldingsChannel.com reports. The fund purchased 700 shares of the real estate investment trust’s stock, valued at approximately $90,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Farmers & Merchants Investments Inc. bought a new position in shares of Sun Communities in the 1st quarter worth approximately $26,000. V Square Quantitative Management LLC bought a new position in shares of Sun Communities in the 4th quarter worth approximately $32,000. CKW Financial Group bought a new position in shares of Sun Communities in the 1st quarter worth approximately $38,000. Quest Partners LLC bought a new position in shares of Sun Communities in the 4th quarter worth approximately $51,000. Finally, GAMMA Investing LLC bought a new position in shares of Sun Communities in the 4th quarter worth approximately $80,000. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SUI. Royal Bank of Canada decreased their target price on shares of Sun Communities from $142.00 to $130.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Evercore ISI reduced their price objective on shares of Sun Communities from $145.00 to $128.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Finally, JMP Securities reissued a “market outperform” rating and issued a $150.00 target price on shares of Sun Communities in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $134.40.

Sun Communities Trading Up 1.5 %

NYSE SUI traded up $1.79 on Friday, hitting $123.95. 44,071 shares of the stock were exchanged, compared to its average volume of 742,370. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.78 and a current ratio of 1.78. The stock has a fifty day moving average price of $119.45 and a two-hundred day moving average price of $123.74. The firm has a market capitalization of $15.45 billion, a P/E ratio of 105.31, a P/E/G ratio of 0.90 and a beta of 0.88. Sun Communities, Inc. has a 52-week low of $102.74 and a 52-week high of $137.45.

Sun Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 3.03%. The ex-dividend date was Friday, June 28th. Sun Communities’s payout ratio is 324.14%.

Sun Communities Company 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.