AdvisorNet Financial Inc Buys 100 Shares of Sun Communities, Inc. (NYSE:SUI)

AdvisorNet Financial Inc increased its stake in shares of Sun Communities, Inc. (NYSE:SUIGet Rating) by 3.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,010 shares of the real estate investment trust’s stock after buying an additional 100 shares during the quarter. AdvisorNet Financial Inc’s holdings in Sun Communities were worth $480,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Bank of Montreal Can grew its stake in Sun Communities by 7.3% in the 4th quarter. Bank of Montreal Can now owns 197,591 shares of the real estate investment trust’s stock valued at $41,592,000 after purchasing an additional 13,444 shares during the period. Ensign Peak Advisors Inc grew its stake in Sun Communities by 262.2% in the 4th quarter. Ensign Peak Advisors Inc now owns 44,135 shares of the real estate investment trust’s stock valued at $9,266,000 after purchasing an additional 31,950 shares during the period. Geode Capital Management LLC grew its stake in Sun Communities by 5.7% in the 4th quarter. Geode Capital Management LLC now owns 1,756,281 shares of the real estate investment trust’s stock valued at $368,293,000 after purchasing an additional 94,345 shares during the period. Alberta Investment Management Corp bought a new position in Sun Communities in the 4th quarter valued at $7,349,000. Finally, Invesco Ltd. grew its stake in Sun Communities by 526.1% in the 4th quarter. Invesco Ltd. now owns 1,111,543 shares of the real estate investment trust’s stock valued at $233,390,000 after purchasing an additional 933,997 shares during the period. Institutional investors own 94.26% of the company’s stock.

Insider Buying and Selling

In other Sun Communities news, EVP Bruce Thelen sold 6,892 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $165.40, for a total value of $1,139,936.80. Following the sale, the executive vice president now owns 25,120 shares of the company’s stock, valued at approximately $4,154,848. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.25% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SUI. Barclays reduced their price objective on Sun Communities from $230.00 to $210.00 and set an “overweight” rating for the company in a research note on Friday, July 1st. JMP Securities dropped their price target on Sun Communities from $220.00 to $200.00 and set a “market outperform” rating on the stock in a research report on Thursday, July 28th. Wolfe Research began coverage on Sun Communities in a research report on Friday, July 15th. They set a “peer perform” rating on the stock. Evercore ISI set a $194.00 price target on Sun Communities in a research report on Monday, June 20th. Finally, Truist Financial upped their price target on Sun Communities from $185.00 to $193.00 in a research report on Wednesday, August 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $204.75.

Sun Communities Stock Performance

Shares of SUI opened at $152.43 on Monday. The stock’s 50-day simple moving average is $160.91 and its 200 day simple moving average is $166.45. The stock has a market capitalization of $18.80 billion, a price-to-earnings ratio of 55.84, a price-to-earnings-growth ratio of 2.49 and a beta of 0.62. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.24 and a current ratio of 2.24. Sun Communities, Inc. has a 52-week low of $148.64 and a 52-week high of $211.79.

Sun Communities (NYSE:SUIGet Rating) last issued its quarterly earnings data on Monday, July 25th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.19). Sun Communities had a return on equity of 4.42% and a net margin of 12.33%. During the same period in the previous year, the firm posted $1.80 EPS. Research analysts forecast that Sun Communities, Inc. will post 7.22 EPS for the current fiscal year.

Sun Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $3.52 dividend on an annualized basis and a yield of 2.31%. Sun Communities’s dividend payout ratio (DPR) is 128.94%.

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.

See Also

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

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