AMG National Trust Bank Invests $1.69 Million in Sun Communities, Inc. (NYSE:SUI)

AMG National Trust Bank acquired a new stake in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 12,503 shares of the real estate investment trust's stock, valued at approximately $1,690,000.

Other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. boosted its stake in shares of 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 buying an additional 190 shares during the last quarter. Quest Partners LLC grew its holdings in Sun Communities by 12,700.0% during the 2nd quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust's stock valued at $46,000 after buying an additional 381 shares in the last quarter. 1620 Investment Advisors Inc. bought a new position in Sun Communities during the second quarter valued at $62,000. Farther Finance Advisors LLC lifted its stake in Sun Communities by 89.1% in the third quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust's stock worth $68,000 after purchasing an additional 236 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake 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 purchasing an additional 436 shares during the period. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Evercore ISI boosted their price target on 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 boosted their price target on Sun Communities from $127.00 to $138.00 and gave the stock a "hold" rating in a research note on Tuesday, August 13th. Jefferies Financial Group assumed coverage on Sun Communities in a research note on Thursday, October 17th. They issued a "buy" rating and a $160.00 price objective for the company. Wells Fargo & Company upped their price objective on shares of Sun Communities from $123.00 to $154.00 and gave the company an "equal weight" rating in a report on Thursday, September 19th. Finally, Baird R W downgraded shares of Sun Communities from a "strong-buy" rating to a "hold" rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $139.08.

Sun Communities Price Performance

SUI traded up $0.95 on Tuesday, reaching $126.22. 389,320 shares of the company's stock were exchanged, compared to its average volume of 829,396. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. The stock's fifty day moving average price is $133.84 and its 200-day moving average price is $127.27. Sun Communities, Inc. has a twelve month low of $110.98 and a twelve month high of $147.83. The stock has a market cap of $16.08 billion, a PE ratio of 67.35, a P/E/G ratio of 0.53 and a beta of 0.91.

Sun Communities (NYSE:SUI - Get Free Report) last released 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). Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The company had revenue of $939.90 million for the quarter, compared to analyst estimates of $980.41 million. During the same period last year, the firm posted $2.57 EPS. The business's quarterly revenue was down 4.4% on a year-over-year basis. Sell-side analysts expect that Sun Communities, Inc. will post 6.78 EPS for the current year.

Sun Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend was Monday, September 30th. Sun Communities's dividend payout ratio is presently 202.15%.

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.