GeoWealth Management LLC Raises Stake in Sun Communities, Inc. (NYSE:SUI)

GeoWealth Management LLC grew its holdings in Sun Communities, Inc. (NYSE:SUI - Free Report) by 114.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 6,179 shares of the real estate investment trust's stock after buying an additional 3,294 shares during the quarter. GeoWealth Management LLC's holdings in Sun Communities were worth $760,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. increased its position in Sun Communities by 8.5% during the 4th 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 during the period. Cascade Investment Advisors Inc. raised its stake in Sun Communities by 0.8% in the fourth quarter. Cascade Investment Advisors Inc. now owns 10,373 shares of the real estate investment trust's stock worth $1,276,000 after buying an additional 85 shares in the last quarter. Cetera Trust Company N.A lifted its holdings in Sun Communities by 6.0% in the fourth 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. Quadrant Capital Group LLC boosted its position in Sun Communities by 17.2% during the 4th quarter. Quadrant Capital Group LLC now owns 837 shares of the real estate investment trust's stock valued at $103,000 after acquiring an additional 123 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings 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 acquiring an additional 124 shares during the period. Hedge funds and other institutional investors own 99.59% of the company's stock.

Sun Communities Stock Performance

Shares of SUI traded up $0.05 during mid-day trading on Friday, hitting $122.25. 547,892 shares of the company traded hands, compared to its average volume of 838,048. Sun Communities, Inc. has a 1 year low of $109.22 and a 1 year 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. The stock has a 50-day moving average price of $127.22 and a two-hundred day moving average price of $126.90. The stock has a market cap of $15.60 billion, a price-to-earnings ratio of 65.73 and a beta of 0.84.

Sun Communities (NYSE:SUI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 EPS for the quarter, beating analysts' consensus estimates of $1.39 by $0.02. The company had revenue of $745.90 million during the quarter, compared to analysts' expectations of $724.68 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. Equities analysts anticipate that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

Sun Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.94 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $3.76 annualized dividend and a dividend yield of 3.08%. Sun Communities's dividend payout ratio (DPR) is 508.11%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SUI. JMP Securities reiterated a "market outperform" rating and issued a $140.00 price objective (down previously from $150.00) on shares of Sun Communities in a report on Monday, April 21st. Royal Bank of Canada reissued an "outperform" rating on shares of Sun Communities in a research report on Friday, February 28th. Jefferies Financial Group began coverage on shares of Sun Communities in a report on Tuesday, April 8th. They issued a "buy" rating and a $150.00 price objective on the stock. Finally, Truist Financial dropped their price target on Sun Communities from $142.00 to $135.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Sun Communities has an average rating of "Hold" and an average target price of $135.70.

Sun Communities 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.