Arkadios Wealth Advisors grew its stake in Sun Communities, Inc. (NYSE:SUI – Free Report) by 13.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,847 shares of the real estate investment trust’s stock after acquiring an additional 678 shares during the quarter. Arkadios Wealth Advisors’ holdings in Sun Communities were worth $719,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of SUI. Assetmark Inc. boosted its stake in Sun Communities by 2,111.1% in the 3rd quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 190 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Sun Communities in the third quarter worth approximately $41,000. Point72 Hong Kong Ltd purchased a new stake in shares of Sun Communities during the third quarter valued at approximately $60,000. Farther Finance Advisors LLC grew its holdings in shares of Sun Communities by 89.1% during the third quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock valued at $68,000 after buying an additional 236 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of Sun Communities by 230.7% during the third quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock valued at $84,000 after acquiring an additional 436 shares in the last quarter. 99.59% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
SUI has been the subject of a number of research analyst reports. 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. Baird R W downgraded Sun Communities from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Truist Financial upgraded shares of Sun Communities from a “hold” rating to a “buy” rating in a research note on Friday. UBS Group lowered shares of Sun Communities from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $155.00 to $134.00 in a research note on Thursday, November 14th. Finally, Bank of America downgraded shares of Sun Communities from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $147.00 to $114.00 in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $135.69.
Check Out Our Latest Report on Sun Communities
Sun Communities Price Performance
NYSE SUI opened at $126.08 on Tuesday. The business’s fifty day moving average is $124.39 and its 200 day moving average is $129.26. Sun Communities, Inc. has a fifty-two week low of $110.98 and a fifty-two week high of $147.83. 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 company has a market capitalization of $16.06 billion, a PE ratio of 67.78, a price-to-earnings-growth ratio of 0.49 and a beta of 0.89.
Sun Communities (NYSE:SUI – Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). The company had revenue of $939.90 million for the quarter, compared to analysts’ expectations of $980.41 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The firm’s quarterly revenue was down 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.57 earnings per share. Sell-side analysts predict that Sun Communities, Inc. will post 6.78 earnings per share for the current year.
Sun Communities Dividend Announcement
The company 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 of this dividend was Tuesday, December 31st. This represents a $3.76 annualized dividend and a dividend yield of 2.98%. Sun Communities’s payout ratio is 202.15%.
Sun Communities Profile
(Free Report)
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.
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