Atria Investments Inc Sells 819 Shares of Sun Communities, Inc. (NYSE:SUI)

Atria Investments Inc decreased its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 10.7% in the third quarter, HoldingsChannel reports. The firm owned 6,817 shares of the real estate investment trust’s stock after selling 819 shares during the quarter. Atria Investments Inc’s holdings in Sun Communities were worth $921,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Assetmark Inc. lifted its stake in Sun Communities by 2,111.1% in the third quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 190 shares during the period. Harvest Portfolios Group Inc. raised its holdings in Sun Communities by 16.5% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 32,806 shares of the real estate investment trust’s stock worth $4,434,000 after purchasing an additional 4,639 shares in the last quarter. Global Wealth Management Investment Advisory Inc. raised its holdings in Sun Communities by 12.3% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 4,189 shares of the real estate investment trust’s stock worth $566,000 after purchasing an additional 458 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Sun Communities by 10.8% in the 3rd quarter. Van ECK Associates Corp now owns 56,904 shares of the real estate investment trust’s stock worth $7,913,000 after purchasing an additional 5,547 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in shares of Sun Communities by 89.1% during 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 in the last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wells Fargo & Company raised their price objective on shares of Sun Communities from $123.00 to $154.00 and gave the stock an “equal weight” rating in a report on Thursday, September 19th. Royal Bank of Canada dropped their price target on Sun Communities from $147.00 to $135.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. UBS Group downgraded Sun Communities from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $155.00 to $134.00 in a report on Thursday. Evercore ISI boosted their target price on shares of Sun Communities from $149.00 to $150.00 and gave the company an “in-line” rating in a report on Monday, October 21st. Finally, Robert W. Baird lowered shares of Sun Communities from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $145.00 to $126.00 in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $139.08.

Sun Communities Trading Up 0.9 %

Shares of Sun Communities stock opened at $125.16 on Monday. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. The firm’s 50 day simple moving average is $134.14 and its two-hundred day simple moving average is $127.11. Sun Communities, Inc. has a 12-month low of $110.98 and a 12-month high of $147.83. The firm has a market capitalization of $15.94 billion, a price-to-earnings ratio of 67.29, a PEG ratio of 0.53 and a beta of 0.91.

Sun Communities (NYSE:SUI) last posted its earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.57 earnings per share. Analysts predict that Sun Communities, Inc. will post 6.78 EPS for the current year.

Sun Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.94 dividend. The ex-dividend date was Monday, September 30th. This represents a $3.76 annualized dividend and a dividend yield of 3.00%. Sun Communities’s dividend payout ratio (DPR) 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.