Sun Communities, Inc. (NYSE:SUI) Position Reduced by Catalytic Wealth RIA LLC

Catalytic Wealth RIA LLC cut its position in shares of Sun Communities, Inc. (NYSE:SUI) by 3.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,972 shares of the real estate investment trust’s stock after selling 104 shares during the quarter. Catalytic Wealth RIA LLC’s holdings in Sun Communities were worth $402,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its holdings 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 valued at $424,677,000 after acquiring an additional 1,105,306 shares during the last quarter. PGGM Investments increased its holdings in shares of Sun Communities by 159.9% in the second quarter. PGGM Investments now owns 1,246,739 shares of the real estate investment trust’s stock valued at $150,033,000 after buying an additional 767,126 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of 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 during the last quarter. Hsbc Holdings PLC boosted its stake in shares of Sun Communities by 199.1% during the 2nd quarter. Hsbc Holdings PLC now owns 358,284 shares of the real estate investment trust’s stock worth $42,754,000 after acquiring an additional 238,498 shares in the last quarter. Finally, National Bank of Canada FI grew its holdings in shares of Sun Communities by 499.9% in the 1st quarter. National Bank of Canada FI now owns 157,977 shares of the real estate investment trust’s stock worth $18,562,000 after acquiring an additional 131,641 shares during the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Price Performance

NYSE SUI opened at $127.12 on Tuesday. The company has a 50 day moving average price of $135.32 and a two-hundred day moving average price of $126.90. Sun Communities, Inc. has a 12-month low of $110.98 and a 12-month high of $147.83. The stock has a market capitalization of $15.85 billion, a PE ratio of 67.38, a price-to-earnings-growth ratio of 0.96 and a beta of 0.91. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.09.

Sun Communities (NYSE:SUI) last posted 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). Sun Communities had a return on equity of 3.26% and a net margin of 7.46%. The business had revenue of $939.90 million for the quarter, compared to analyst estimates of $980.41 million. During the same period in the previous year, the company earned $2.57 earnings per share. The company’s quarterly revenue was down 4.4% compared to the same quarter last year. As a group, equities analysts predict that Sun Communities, Inc. will post 6.76 earnings per share for the current fiscal year.

Sun Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.76 annualized dividend and a yield of 2.96%. Sun Communities’s dividend payout ratio (DPR) is presently 202.15%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Baird R W lowered Sun Communities from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Evercore ISI boosted their price target on shares of Sun Communities from $149.00 to $150.00 and gave the company an “in-line” rating in a report on Monday, October 21st. Truist Financial lifted their price objective on shares of Sun Communities from $127.00 to $138.00 and gave the stock a “hold” rating in a research report on Tuesday, August 13th. UBS Group upgraded Sun Communities to a “strong-buy” rating in a report on Thursday, October 10th. Finally, Jefferies Financial Group initiated coverage on Sun Communities in a report on Thursday, October 17th. They set a “buy” rating and a $160.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $141.82.

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.