Napa Wealth Management Acquires Shares of 1,886 Sun Communities, Inc. (NYSE:SUI)

Napa Wealth Management bought a new position in Sun Communities, Inc. (NYSE:SUI) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,886 shares of the real estate investment trust’s stock, valued at approximately $255,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Bristlecone Advisors LLC lifted its stake in shares of Sun Communities by 2.4% during the second quarter. Bristlecone Advisors LLC now owns 3,655 shares of the real estate investment trust’s stock valued at $440,000 after acquiring an additional 85 shares during the period. Toronto Dominion Bank boosted its holdings in shares of Sun Communities by 0.8% in the second quarter. Toronto Dominion Bank now owns 11,916 shares of the real estate investment trust’s stock valued at $1,434,000 after buying an additional 98 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Sun Communities by 15.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 762 shares of the real estate investment trust’s stock worth $92,000 after purchasing an additional 102 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in shares of Sun Communities by 1.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 7,034 shares of the real estate investment trust’s stock worth $846,000 after buying an additional 115 shares during the period. Finally, Fifth Third Bancorp grew its stake in shares of Sun Communities by 2.8% during the 2nd quarter. Fifth Third Bancorp now owns 5,179 shares of the real estate investment trust’s stock worth $623,000 after acquiring an additional 142 shares in the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Price Performance

Shares of SUI opened at $125.27 on Tuesday. The business has a 50-day simple moving average of $134.14 and a two-hundred day simple moving average of $127.21. Sun Communities, Inc. has a 12-month low of $110.98 and a 12-month high of $147.83. The stock has a market cap of $15.96 billion, a PE ratio of 67.35, a PEG ratio of 0.53 and a beta of 0.91. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93.

Sun Communities (NYSE:SUI) last issued its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). The business had revenue of $939.90 million for the quarter, compared to analyst estimates of $980.41 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. Sun Communities’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.57 EPS. Analysts anticipate that Sun Communities, Inc. will post 6.78 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend was Monday, September 30th. Sun Communities’s dividend payout ratio is currently 202.15%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. StockNews.com upgraded Sun Communities from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. UBS Group downgraded shares of Sun Communities from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $155.00 to $134.00 in a report on Thursday, November 14th. Robert W. Baird lowered Sun Communities from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $145.00 to $126.00 in a research note on Thursday, November 7th. 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 note on Tuesday, August 13th. Finally, Wells Fargo & Company lifted their price objective on Sun Communities from $123.00 to $154.00 and gave the company an “equal weight” rating in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $139.08.

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.