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Sun Communities, Inc. (NYSE:SUI) Shares Acquired by First National Advisers LLC

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Key Points

  • First National Advisers LLC has increased its stake in Sun Communities, Inc. by 39.8%, now holding a position worth approximately $2.10 million.
  • Sun Communities announced a dividend increase, with a new quarterly payment of $1.04 per share, up from $0.94, representing an annualized yield of 3.48%.
  • The company's most recent earnings report showed $1.26 earnings per share, exceeding expectations, although revenue fell short of forecasts at $470.20 million.
  • Five stocks we like better than Sun Communities.

First National Advisers LLC raised its position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 39.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,337 shares of the real estate investment trust's stock after buying an additional 4,648 shares during the quarter. First National Advisers LLC's holdings in Sun Communities were worth $2,102,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new position in Sun Communities during the 1st quarter valued at approximately $29,000. Aster Capital Management DIFC Ltd grew its holdings in Sun Communities by 263.6% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust's stock valued at $39,000 after buying an additional 232 shares in the last quarter. Parallel Advisors LLC grew its holdings in Sun Communities by 66.4% during the 1st quarter. Parallel Advisors LLC now owns 476 shares of the real estate investment trust's stock valued at $61,000 after buying an additional 190 shares in the last quarter. Blue Trust Inc. grew its holdings in Sun Communities by 510.4% during the 1st quarter. Blue Trust Inc. now owns 586 shares of the real estate investment trust's stock valued at $75,000 after buying an additional 490 shares in the last quarter. Finally, Natixis purchased a new position in Sun Communities during the 4th quarter valued at approximately $90,000. Hedge funds and other institutional investors own 99.59% of the company's stock.

Insider Buying and Selling

In other news, Director Jeff Blau purchased 3,665 shares of the stock in a transaction on Friday, May 23rd. The stock was bought at an average price of $117.99 per share, with a total value of $432,433.35. Following the transaction, the director owned 3,665 shares in the company, valued at $432,433.35. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.77% of the company's stock.

Sun Communities Stock Up 6.7%

Shares of NYSE:SUI traded up $7.86 on Thursday, reaching $124.46. The company had a trading volume of 2,143,755 shares, compared to its average volume of 847,965. Sun Communities, Inc. has a 52-week low of $109.22 and a 52-week high of $147.83. The firm's 50 day simple moving average is $124.61 and its 200-day simple moving average is $125.71. The firm has a market capitalization of $15.89 billion, a PE ratio of 200.73, a PEG ratio of 8.13 and a beta of 0.86. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 1.01.

Sun Communities (NYSE:SUI - Get Free Report) last announced its earnings results on Wednesday, July 30th. The real estate investment trust reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.09. Sun Communities had a return on equity of 1.41% and a net margin of 2.85%. The firm had revenue of $623.50 million for the quarter, compared to the consensus estimate of $614.79 million. During the same period in the previous year, the business earned $1.86 EPS. As a group, analysts expect that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $4.16 dividend on an annualized basis and a yield of 3.34%. This is a boost from Sun Communities's previous quarterly dividend of $0.94. Sun Communities's payout ratio is currently 670.97%.

Analyst Ratings Changes

Several research firms have weighed in on SUI. Jefferies Financial Group initiated coverage on Sun Communities in a report on Tuesday, April 8th. They set a "buy" rating and a $150.00 price target for the company. Colliers Securities initiated coverage on Sun Communities in a research note on Friday, June 13th. They issued a "neutral" rating and a $130.00 price objective for the company. Barclays initiated coverage on Sun Communities in a research note on Thursday, May 29th. They issued an "overweight" rating and a $141.00 price objective for the company. Robert W. Baird lowered their price objective on Sun Communities from $128.00 to $126.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $140.00 price objective on shares of Sun Communities in a research note on Tuesday, May 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $137.86.

Get Our Latest Report on SUI

About Sun Communities

(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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