EverSource Wealth Advisors LLC Purchases 1,528 Shares of Sun Communities, Inc. (NYSE:SUI)

EverSource Wealth Advisors LLC raised its position in shares of Sun Communities, Inc. (NYSE:SUI) by 1,776.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,614 shares of the real estate investment trust’s stock after acquiring an additional 1,528 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Sun Communities were worth $198,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of SUI. Assetmark Inc. boosted 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 worth $27,000 after purchasing an additional 190 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Sun Communities during the 3rd quarter worth about $41,000. Smartleaf Asset Management LLC boosted its position in shares of Sun Communities by 45.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 124 shares in the last quarter. CKW Financial Group boosted its position in shares of 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 purchasing an additional 135 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in shares of Sun Communities during the 3rd quarter worth about $60,000. Institutional investors own 99.59% of the company’s stock.

Sun Communities Trading Up 1.9 %

NYSE:SUI opened at $128.06 on Monday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. The firm has a market cap of $16.31 billion, a price-to-earnings ratio of 68.85 and a beta of 0.90. Sun Communities, Inc. has a 52 week low of $110.98 and a 52 week high of $147.83. The firm has a 50-day moving average price of $127.27 and a two-hundred day moving average price of $129.52.

Sun Communities (NYSE:SUI) last posted its quarterly earnings data 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 firm had revenue of $745.90 million during the quarter, compared to analyst estimates of $724.68 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. On average, equities analysts expect that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SUI. Wells Fargo & Company cut their price objective on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. StockNews.com cut shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Jefferies Financial Group lowered their target price on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Truist Financial upped their target price on shares of Sun Communities from $136.00 to $142.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Finally, Royal Bank of Canada restated an “outperform” rating on shares of Sun Communities in a report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Sun Communities currently has an average rating of “Hold” and a consensus target price of $135.55.

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.