Sun Communities, Inc. (NYSE:SUI) Position Boosted by U.S. Capital Wealth Advisors LLC

U.S. Capital Wealth Advisors LLC grew its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 6.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,187 shares of the real estate investment trust’s stock after purchasing an additional 637 shares during the period. U.S. Capital Wealth Advisors LLC’s holdings in Sun Communities were worth $1,376,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Assetmark Inc. lifted its position in shares of Sun Communities by 2,111.1% during the 3rd quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 190 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Sun Communities during the 3rd quarter worth about $41,000. CKW Financial Group raised its holdings in Sun Communities by 45.0% during the 4th quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 135 shares during the period. Point72 Hong Kong Ltd acquired a new stake in Sun Communities during the 3rd quarter worth about $60,000. Finally, Farther Finance Advisors LLC raised its holdings in Sun Communities by 89.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock worth $68,000 after buying an additional 236 shares during the period. Institutional investors own 99.59% of the company’s stock.

Sun Communities Stock Performance

Shares of SUI stock opened at $126.59 on Wednesday. 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 market cap of $16.13 billion, a P/E ratio of 68.06 and a beta of 0.90. Sun Communities, Inc. has a fifty-two week low of $110.98 and a fifty-two week high of $147.83. The stock’s 50-day moving average is $124.49 and its two-hundred day moving average is $129.63.

Sun Communities (NYSE:SUI) last posted its earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.20). The business had revenue of $939.90 million during the quarter, compared to the consensus estimate of $980.41 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The business’s revenue was down 4.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.57 earnings per share. Analysts predict that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.94 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.97%. Sun Communities’s dividend payout ratio is currently 202.15%.

Wall Street Analysts Forecast Growth

SUI has been the topic of several research analyst reports. UBS Group cut shares of Sun Communities from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $155.00 to $134.00 in a research report on Thursday, November 14th. Baird R W cut shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Robert W. Baird lowered Sun Communities from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $145.00 to $126.00 in a research report on Thursday, November 7th. Royal Bank of Canada decreased their price objective on Sun Communities from $147.00 to $135.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Finally, Wells Fargo & Company decreased their price objective on Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $134.55.

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.