Pasadena Private Wealth LLC Has $534,000 Holdings in Sun Communities, Inc. (NYSE:SUI)

Pasadena Private Wealth LLC decreased its holdings in Sun Communities, Inc. (NYSE:SUI) by 3.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,342 shares of the real estate investment trust’s stock after selling 153 shares during the period. Pasadena Private Wealth LLC’s holdings in Sun Communities were worth $534,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of SUI. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Sun Communities by 8.5% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,069 shares of the real estate investment trust’s stock valued at $131,000 after purchasing an additional 84 shares in the last quarter. Cascade Investment Advisors Inc. raised its holdings in Sun Communities by 0.8% in the 4th quarter. Cascade Investment Advisors Inc. now owns 10,373 shares of the real estate investment trust’s stock valued at $1,276,000 after buying an additional 85 shares during the last quarter. Cetera Trust Company N.A boosted its position in Sun Communities by 6.0% during the 4th quarter. Cetera Trust Company N.A now owns 1,865 shares of the real estate investment trust’s stock worth $229,000 after buying an additional 105 shares during the period. Avior Wealth Management LLC grew its holdings in Sun Communities by 3.0% during the 3rd quarter. Avior Wealth Management LLC now owns 4,328 shares of the real estate investment trust’s stock worth $585,000 after acquiring an additional 125 shares during the last quarter. Finally, CKW Financial Group raised its stake in shares of Sun Communities by 45.0% during the fourth quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 135 shares during the last quarter. Institutional investors own 99.59% of the company’s stock.

Sun Communities Stock Up 0.8 %

Shares of NYSE:SUI opened at $125.96 on Wednesday. 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, Inc. has a 52-week low of $110.98 and a 52-week high of $147.83. The business’s 50 day simple moving average is $124.28 and its two-hundred day simple moving average is $129.62. The firm has a market cap of $16.05 billion, a P/E ratio of 67.72 and a beta of 0.90.

Sun Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend was Tuesday, December 31st. Sun Communities’s payout ratio is currently 202.15%.

Analyst Ratings Changes

SUI has been the topic of a number of recent analyst reports. Royal Bank of Canada cut their price objective on Sun Communities from $147.00 to $135.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. BMO Capital Markets dropped their price target on shares of Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. UBS Group downgraded shares of Sun Communities from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $155.00 to $134.00 in a research note on Thursday, November 14th. Jefferies Financial Group dropped 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. Finally, Baird R W downgraded Sun Communities from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $134.55.

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.