Sun Communities, Inc. (NYSE:SUI) Holdings Trimmed by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. lessened its stake in Sun Communities, Inc. (NYSE:SUI - Free Report) by 61.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,856 shares of the real estate investment trust's stock after selling 10,963 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Sun Communities were worth $843,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SUI. Brooklyn Investment Group purchased a new position in shares of Sun Communities in the third quarter valued at $41,000. Smartleaf Asset Management LLC grew its position in shares of Sun Communities by 45.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust's stock worth $49,000 after acquiring an additional 124 shares during the last quarter. CKW Financial Group increased its holdings in shares of Sun Communities by 45.0% in the 4th quarter. CKW Financial Group now owns 435 shares of the real estate investment trust's stock worth $53,000 after acquiring an additional 135 shares during the period. Point72 Hong Kong Ltd bought a new stake in Sun Communities in the 3rd quarter valued at about $60,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in Sun Communities by 8.5% during the 4th 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 purchasing an additional 84 shares during the period. Institutional investors and hedge funds own 99.59% of the company's stock.

Analyst Ratings Changes

SUI has been the topic of several analyst reports. Jefferies Financial Group dropped their price target on shares of Sun Communities from $145.00 to $142.00 and set a "buy" rating on the stock in a research note on Thursday, January 2nd. Truist Financial lifted their target price on Sun Communities from $136.00 to $142.00 and gave the company a "buy" rating in a research note on Monday, March 10th. Royal Bank of Canada reissued an "outperform" rating on shares of Sun Communities in a research note on Friday, February 28th. Finally, Wells Fargo & Company cut their price objective on shares of Sun Communities from $154.00 to $135.00 and set an "equal weight" rating on the stock in a research note on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $136.60.

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Sun Communities Price Performance

Shares of SUI traded down $0.56 during mid-day trading on Monday, hitting $130.42. The company's stock had a trading volume of 616,880 shares, compared to its average volume of 795,600. 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 firm has a 50-day moving average price of $128.23 and a 200 day moving average price of $129.41. Sun Communities, Inc. has a fifty-two week low of $110.98 and a fifty-two week high of $147.83. The stock has a market capitalization of $16.64 billion, a price-to-earnings ratio of 70.12 and a beta of 0.90.

Sun Communities (NYSE:SUI - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 EPS for the quarter, beating analysts' consensus estimates of $1.39 by $0.02. The company had revenue of $745.90 million during the quarter, compared to the consensus estimate of $724.68 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. On average, research analysts predict that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.94 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.76 dividend on an annualized basis and a yield of 2.88%. Sun Communities's dividend payout ratio is currently 508.11%.

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.