Checchi Capital Advisers LLC Raises Stake in Sun Communities, Inc. (NYSE:SUI)

Checchi Capital Advisers LLC lifted its position in shares of Sun Communities, Inc. (NYSE:SUI) by 13.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,975 shares of the real estate investment trust’s stock after buying an additional 230 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Sun Communities were worth $243,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of SUI. Thurston Springer Miller Herd & Titak Inc. lifted its position in Sun Communities by 8.5% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,069 shares of the real estate investment trust’s stock valued at $131,000 after buying an additional 84 shares in the last quarter. Cascade Investment Advisors Inc. raised its stake in shares of Sun Communities by 0.8% in the 4th quarter. Cascade Investment Advisors Inc. now owns 10,373 shares of the real estate investment trust’s stock valued at $1,276,000 after acquiring an additional 85 shares during the period. Cetera Trust Company N.A raised its stake in shares of Sun Communities by 6.0% in the 4th quarter. Cetera Trust Company N.A now owns 1,865 shares of the real estate investment trust’s stock valued at $229,000 after acquiring an additional 105 shares during the period. Avior Wealth Management LLC lifted its holdings in shares of Sun Communities by 3.0% during the 3rd quarter. Avior Wealth Management LLC now owns 4,328 shares of the real estate investment trust’s stock valued at $585,000 after acquiring an additional 125 shares in the last quarter. Finally, Argonautica Private Wealth Management Inc. boosted its position in Sun Communities by 4.5% during the 4th quarter. Argonautica Private Wealth Management Inc. now owns 2,901 shares of the real estate investment trust’s stock worth $357,000 after purchasing an additional 126 shares during the period. Institutional investors and hedge funds own 99.59% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on SUI shares. Robert W. Baird lowered Sun Communities from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $145.00 to $126.00 in a research report on Thursday, November 7th. Truist Financial raised Sun Communities from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. StockNews.com cut Sun Communities from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Bank of America lowered shares of Sun Communities from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $147.00 to $114.00 in a research note on Tuesday, November 12th. Finally, Jefferies Financial Group decreased their target price on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $134.55.

Sun Communities Price Performance

Shares of SUI stock opened at $133.19 on Friday. The firm has a market cap of $16.97 billion, a P/E ratio of 71.61 and a beta of 0.90. The firm has a fifty day moving average of $125.56 and a two-hundred day moving average of $129.58. 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 1-year low of $110.98 and a 1-year high of $147.83.

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

Sun Communities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend was Tuesday, December 31st. Sun Communities’s dividend payout ratio is currently 202.15%.

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.