Prime Capital Investment Advisors LLC Has $297,000 Holdings in Sun Communities, Inc. (NYSE:SUI)

Prime Capital Investment Advisors LLC cut its position in shares of Sun Communities, Inc. (NYSE:SUIFree Report) by 3.8% in the third quarter, Holdings Channel reports. The firm owned 2,195 shares of the real estate investment trust’s stock after selling 86 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Sun Communities were worth $297,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Assetmark Inc. raised its position in Sun Communities by 2,111.1% during the third 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 in the last quarter. Quest Partners LLC increased its stake in shares of Sun Communities by 12,700.0% during the 2nd quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 381 shares during the last quarter. 1620 Investment Advisors Inc. bought a new position in shares of Sun Communities during the 2nd quarter valued at $62,000. Farther Finance Advisors LLC lifted its stake in shares of Sun Communities by 89.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock valued at $68,000 after purchasing an additional 236 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in Sun Communities by 230.7% in the third quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock worth $84,000 after purchasing an additional 436 shares in the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Sun Communities Trading Up 0.9 %

Shares of Sun Communities stock opened at $125.16 on Friday. Sun Communities, Inc. has a 52-week low of $110.98 and a 52-week high of $147.83. The firm has a market capitalization of $15.94 billion, a PE ratio of 67.29, a price-to-earnings-growth ratio of 0.53 and a beta of 0.91. 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 company’s fifty day moving average price is $134.14 and its two-hundred day moving average price is $127.00.

Sun Communities (NYSE:SUIGet Free Report) last issued its earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share for the quarter, missing the consensus estimate 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 net margin of 7.46% and a return on equity of 3.21%. Sun Communities’s revenue was down 4.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.57 earnings per share. On average, analysts expect that Sun Communities, Inc. will post 6.75 EPS for the current year.

Sun Communities Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Jefferies Financial Group began coverage on Sun Communities in a research report on Thursday, October 17th. They issued a “buy” rating and a $160.00 price target for the company. BMO Capital Markets reduced their price objective on shares of Sun Communities from $145.00 to $138.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Truist Financial raised their target price on shares of Sun Communities from $127.00 to $138.00 and gave the company a “hold” rating in a research note on Tuesday, August 13th. Bank of America lowered shares of Sun Communities from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $147.00 to $114.00 in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company raised their price target on Sun Communities from $123.00 to $154.00 and gave the company an “equal weight” rating in a research report on Thursday, September 19th. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $139.08.

View Our Latest Stock Report on Sun Communities

Sun Communities Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Sun Communities (NYSE:SUI)

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