Checchi Capital Advisers LLC Takes $278,000 Position in Sun Communities, Inc. (NYSE:SUI)

Checchi Capital Advisers LLC bought a new stake in Sun Communities, Inc. (NYSE:SUIGet Rating) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,694 shares of the real estate investment trust’s stock, valued at approximately $278,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Cetera Investment Advisers increased its holdings in Sun Communities by 1.9% during the 1st quarter. Cetera Investment Advisers now owns 3,453 shares of the real estate investment trust’s stock valued at $605,000 after purchasing an additional 64 shares during the period. Exchange Traded Concepts LLC increased its holdings in Sun Communities by 5.1% during the 2nd quarter. Exchange Traded Concepts LLC now owns 1,558 shares of the real estate investment trust’s stock valued at $248,000 after purchasing an additional 75 shares during the period. Raymond James Trust N.A. increased its holdings in Sun Communities by 6.4% during the 2nd quarter. Raymond James Trust N.A. now owns 1,266 shares of the real estate investment trust’s stock valued at $202,000 after purchasing an additional 76 shares during the period. Principal Street Partners LLC increased its holdings in Sun Communities by 3.7% during the 1st quarter. Principal Street Partners LLC now owns 2,243 shares of the real estate investment trust’s stock valued at $393,000 after purchasing an additional 79 shares during the period. Finally, South Shore Capital Advisors increased its holdings in Sun Communities by 1.9% during the 2nd quarter. South Shore Capital Advisors now owns 4,176 shares of the real estate investment trust’s stock valued at $665,000 after purchasing an additional 79 shares during the period. Institutional investors own 94.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SUI shares. Robert W. Baird reduced their price target on Sun Communities from $205.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, October 5th. Truist Financial reduced their target price on Sun Communities from $193.00 to $147.00 and set a “buy” rating on the stock in a report on Friday, October 14th. Royal Bank of Canada reduced their target price on Sun Communities from $174.00 to $164.00 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. TheStreet downgraded Sun Communities from a “b-” rating to a “c” rating in a report on Monday, October 17th. Finally, JMP Securities reduced their target price on Sun Communities from $200.00 to $160.00 and set a “market outperform” rating on the stock in a report on Monday, October 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.50.

Sun Communities Stock Performance

SUI stock opened at $145.05 on Thursday. The stock has a market capitalization of $17.97 billion, a PE ratio of 70.76, a price-to-earnings-growth ratio of 2.33 and a beta of 0.63. Sun Communities, Inc. has a 12-month low of $117.63 and a 12-month high of $211.79. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.83. The stock’s 50 day simple moving average is $135.00 and its 200 day simple moving average is $151.51.

Sun Communities (NYSE:SUIGet Rating) last released its quarterly earnings data on Monday, October 24th. The real estate investment trust reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.05). Sun Communities had a net margin of 8.81% and a return on equity of 3.34%. During the same period in the prior year, the firm earned $2.11 earnings per share. As a group, research analysts forecast that Sun Communities, Inc. will post 7.26 earnings per share for the current fiscal year.

Sun Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 30th were given a $0.88 dividend. The ex-dividend date of this dividend was Thursday, September 29th. This represents a $3.52 annualized dividend and a yield of 2.43%. Sun Communities’s dividend payout ratio (DPR) is presently 171.71%.

About Sun Communities

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Sun Communities, Inc is a REIT that, as of March 31, 2022, owned, operated, or had an interest in a portfolio of 603 developed MH, RV and marina properties comprising nearly 159,300 developed sites and over 45,700 wet slips and dry storage spaces in 39 states, Canada, Puerto Rico and the UK.

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Institutional Ownership by Quarter for Sun Communities (NYSE:SUI)

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