Checchi Capital Advisers LLC Boosts Stock Position in Sun Communities, Inc. (NYSE:SUI)

Checchi Capital Advisers LLC grew its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 13.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,975 shares of the real estate investment trust’s stock after buying an additional 230 shares during the period. Checchi Capital Advisers LLC’s holdings in Sun Communities were worth $243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC lifted its position in shares of Sun Communities by 37.6% during the 3rd quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust’s stock worth $707,329,000 after buying an additional 1,430,630 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Sun Communities by 1,061.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,323,479 shares of the real estate investment trust’s stock valued at $178,868,000 after acquiring an additional 1,209,522 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in Sun Communities by 58.8% in the third quarter. Westfield Capital Management Co. LP now owns 959,879 shares of the real estate investment trust’s stock valued at $129,728,000 after acquiring an additional 355,427 shares in the last quarter. Adelante Capital Management LLC grew its holdings in shares of Sun Communities by 168.7% during the third quarter. Adelante Capital Management LLC now owns 559,129 shares of the real estate investment trust’s stock worth $75,566,000 after purchasing an additional 351,017 shares during the last quarter. Finally, abrdn plc grew its holdings in shares of Sun Communities by 343.5% during the fourth quarter. abrdn plc now owns 277,988 shares of the real estate investment trust’s stock worth $34,098,000 after purchasing an additional 215,314 shares during the last quarter. 99.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on SUI shares. Bank of America cut Sun Communities from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $147.00 to $114.00 in a research report on Tuesday, November 12th. Baird R W lowered shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Royal Bank of Canada reduced their price target on shares of Sun Communities from $147.00 to $135.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Truist Financial upgraded shares of Sun Communities from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Finally, StockNews.com lowered shares of Sun Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $134.55.

Sun Communities Price Performance

Shares of NYSE:SUI opened at $133.19 on Friday. Sun Communities, Inc. has a 52 week low of $110.98 and a 52 week high of $147.83. The company has a 50-day moving average price of $125.56 and a 200 day moving average price of $129.58. The company has a market cap of $16.97 billion, a P/E ratio of 71.61 and a beta of 0.90. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93.

Sun Communities (NYSE:SUI) last posted its quarterly earnings results 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. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The business had revenue of $745.90 million during the quarter, compared to analysts’ expectations of $724.68 million. Research analysts predict that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

Sun Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.94 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.82%. Sun Communities’s dividend payout ratio is presently 202.15%.

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.