Sun Communities, Inc. (NYSE:SUI) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. lowered its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 61.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its stake in shares of Sun Communities by 1,776.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,614 shares of the real estate investment trust’s stock valued at $198,000 after acquiring an additional 1,528 shares during the last quarter. AGF Management Ltd. purchased a new stake in shares of Sun Communities during the 4th quarter worth about $2,455,000. Wealthfront Advisers LLC grew its holdings in shares of Sun Communities by 712.9% during the 4th quarter. Wealthfront Advisers LLC now owns 72,254 shares of the real estate investment trust’s stock worth $8,885,000 after purchasing an additional 63,366 shares during the period. GC Wealth Management RIA LLC grew its holdings in shares of Sun Communities by 105.7% during the 4th quarter. GC Wealth Management RIA LLC now owns 6,112 shares of the real estate investment trust’s stock worth $752,000 after purchasing an additional 3,140 shares during the period. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Sun Communities by 23.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 2,344,020 shares of the real estate investment trust’s stock worth $288,244,000 after purchasing an additional 442,557 shares during the period. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Stock Performance

Sun Communities stock opened at $131.58 on Friday. The stock has a market cap of $16.76 billion, a P/E ratio of 70.74 and a beta of 0.90. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. The stock has a 50 day moving average of $128.03 and a 200-day moving average of $129.53. Sun Communities, Inc. has a 52 week low of $110.98 and a 52 week high of $147.83.

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

Sun Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend is Monday, March 31st. Sun Communities’s dividend payout ratio is currently 508.11%.

Analyst Ratings Changes

A number of analysts have recently issued reports on SUI shares. Royal Bank of Canada reiterated an “outperform” rating on shares of Sun Communities in a report on Friday, February 28th. Wells Fargo & Company decreased their target price on Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Truist Financial boosted their target price on Sun Communities from $136.00 to $142.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Finally, Jefferies Financial Group decreased their price target on Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $135.55.

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.