1,886 Shares in Sun Communities, Inc. (NYSE:SUI) Purchased by Napa Wealth Management

Napa Wealth Management bought a new stake in shares of Sun Communities, Inc. (NYSE:SUI) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,886 shares of the real estate investment trust’s stock, valued at approximately $255,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position in Sun Communities by 50.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,302,804 shares of the real estate investment trust’s stock worth $424,677,000 after purchasing an additional 1,105,306 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Sun Communities by 3.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,949,862 shares of the real estate investment trust’s stock valued at $354,986,000 after acquiring an additional 111,569 shares during the period. Daiwa Securities Group Inc. raised its stake in Sun Communities by 24.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 2,195,884 shares of the real estate investment trust’s stock valued at $264,253,000 after acquiring an additional 424,842 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Sun Communities by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,784,547 shares of the real estate investment trust’s stock worth $214,752,000 after acquiring an additional 10,592 shares during the period. Finally, Canada Pension Plan Investment Board grew its stake in shares of Sun Communities by 5.5% in the first quarter. Canada Pension Plan Investment Board now owns 1,422,792 shares of the real estate investment trust’s stock worth $182,943,000 after purchasing an additional 74,310 shares in the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Sun Communities Stock Performance

SUI opened at $125.27 on Tuesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. The stock has a 50-day moving average of $134.14 and a 200-day moving average of $127.21. The company has a market cap of $15.96 billion, a PE ratio of 67.35, a price-to-earnings-growth ratio of 0.53 and a beta of 0.91. Sun Communities, Inc. has a 52-week low of $110.98 and a 52-week high of $147.83.

Sun Communities (NYSE:SUI) last released its earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.20). The company had revenue of $939.90 million for the quarter, compared to analyst estimates of $980.41 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. During the same quarter in the previous year, the company earned $2.57 earnings per share. Sun Communities’s revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, equities research analysts forecast that Sun Communities, Inc. will post 6.78 earnings per share for the current fiscal year.

Sun Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.94 dividend. The ex-dividend date was Monday, September 30th. This represents a $3.76 annualized dividend and a yield of 3.00%. Sun Communities’s dividend payout ratio (DPR) is currently 202.15%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SUI shares. Jefferies Financial Group began coverage on Sun Communities in a research report on Thursday, October 17th. They issued a “buy” rating and a $160.00 target price for the company. Evercore ISI lifted their target price on Sun Communities from $149.00 to $150.00 and gave the stock an “in-line” rating in a report on Monday, October 21st. Wells Fargo & Company raised their price objective on shares of Sun Communities from $123.00 to $154.00 and gave the company an “equal weight” rating in a research report on Thursday, September 19th. StockNews.com upgraded shares of Sun Communities from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Truist Financial increased their target price on shares of Sun Communities from $127.00 to $138.00 and gave the company a “hold” rating in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $139.08.

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.