Crewe Advisors LLC Makes New Investment in Sun Communities, Inc. (NYSE:SUI)

Crewe Advisors LLC acquired a new position in shares of Sun Communities, Inc. (NYSE:SUI) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 700 shares of the real estate investment trust’s stock, valued at approximately $90,000.

Several other hedge funds also recently added to or reduced their stakes in SUI. Raymond James Trust N.A. bought a new stake in shares of Sun Communities during the 4th quarter worth about $203,000. Manning & Napier Group LLC grew its stake in shares of Sun Communities by 2.1% in the 4th quarter. Manning & Napier Group LLC now owns 112,339 shares of the real estate investment trust’s stock worth $15,014,000 after purchasing an additional 2,308 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Sun Communities by 7.9% in the 4th quarter. Fifth Third Bancorp now owns 5,627 shares of the real estate investment trust’s stock worth $752,000 after purchasing an additional 412 shares during the last quarter. Osborne Partners Capital Management LLC grew its stake in shares of Sun Communities by 106.0% in the 4th quarter. Osborne Partners Capital Management LLC now owns 41,334 shares of the real estate investment trust’s stock worth $5,524,000 after purchasing an additional 21,269 shares during the last quarter. Finally, Arizona State Retirement System grew its stake in shares of Sun Communities by 0.7% in the 4th quarter. Arizona State Retirement System now owns 34,195 shares of the real estate investment trust’s stock worth $4,570,000 after purchasing an additional 253 shares during the last quarter. 99.59% of the stock is owned by institutional investors and hedge funds.

Sun Communities Stock Up 1.5 %

Sun Communities stock traded up $1.79 during mid-day trading on Friday, hitting $123.95. 44,071 shares of the company’s stock were exchanged, compared to its average volume of 742,370. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 1.08. The stock has a market cap of $15.45 billion, a P/E ratio of 105.31, a P/E/G ratio of 0.90 and a beta of 0.88. Sun Communities, Inc. has a 1-year low of $102.74 and a 1-year high of $137.45. The stock has a 50 day moving average of $119.45 and a two-hundred day moving average of $123.74.

Sun Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 3.03%. The ex-dividend date was Friday, June 28th. Sun Communities’s payout ratio is 324.14%.

Analyst Ratings Changes

Several brokerages have recently issued reports on SUI. JMP Securities reaffirmed a “market outperform” rating and issued a $150.00 price objective on shares of Sun Communities in a research note on Thursday, May 2nd. Royal Bank of Canada lowered their price objective on shares of Sun Communities from $142.00 to $130.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Finally, Evercore ISI dropped their target price on shares of Sun Communities from $145.00 to $128.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $134.40.

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.