Cetera Trust Company N.A Buys 105 Shares of Sun Communities, Inc. (NYSE:SUI)

Cetera Trust Company N.A raised its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 6.0% in the 4th quarter, HoldingsChannel reports. The firm owned 1,865 shares of the real estate investment trust’s stock after purchasing an additional 105 shares during the period. Cetera Trust Company N.A’s holdings in Sun Communities were worth $229,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. grew its position in Sun Communities by 8.5% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,069 shares of the real estate investment trust’s stock worth $131,000 after acquiring an additional 84 shares in the last quarter. Toronto Dominion Bank increased its holdings in Sun Communities by 0.8% during the 2nd quarter. Toronto Dominion Bank now owns 11,916 shares of the real estate investment trust’s stock valued at $1,434,000 after purchasing an additional 98 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in Sun Communities by 15.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 762 shares of the real estate investment trust’s stock worth $92,000 after acquiring an additional 102 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in Sun Communities by 1.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 7,034 shares of the real estate investment trust’s stock worth $846,000 after purchasing an additional 115 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its position in shares of Sun Communities by 3.0% during the third quarter. Avior Wealth Management LLC now owns 4,328 shares of the real estate investment trust’s stock valued at $585,000 after purchasing an additional 125 shares in the last quarter. Institutional investors own 99.59% of the company’s stock.

Sun Communities Stock Down 1.5 %

SUI opened at $126.07 on Wednesday. The company has a fifty day moving average of $124.44 and a two-hundred day moving average of $129.39. The stock has a market capitalization of $16.06 billion, a price-to-earnings ratio of 67.83, a PEG ratio of 0.51 and a beta of 0.89. Sun Communities, Inc. has a fifty-two week low of $110.98 and a fifty-two week high of $147.83. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61.

Sun Communities (NYSE:SUI) last issued its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share (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 analysts’ expectations 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 for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.57 EPS. On average, research analysts expect that Sun Communities, Inc. will post 6.78 earnings per share for the current year.

Sun Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date was Tuesday, December 31st. Sun Communities’s dividend payout ratio is presently 202.15%.

Analysts Set New Price Targets

SUI has been the topic of a number of 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. UBS Group downgraded Sun Communities from a “buy” rating to a “neutral” rating and decreased their target price for the company from $155.00 to $134.00 in a research note on Thursday, November 14th. Royal Bank of Canada reduced their price objective on shares of Sun Communities from $147.00 to $135.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Truist Financial upgraded Sun Communities from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Finally, Bank of America lowered Sun Communities from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $147.00 to $114.00 in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $135.69.

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.