Assetmark Inc. Buys 190 Shares of Sun Communities, Inc. (NYSE:SUI)

Assetmark Inc. boosted its position in shares of Sun Communities, Inc. (NYSE:SUI) by 2,111.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 199 shares of the real estate investment trust’s stock after acquiring an additional 190 shares during the period. Assetmark Inc.’s holdings in Sun Communities were worth $27,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in SUI. Manning & Napier Advisors LLC purchased a new position in shares of Sun Communities during the 2nd quarter valued at $13,164,000. Virtu Financial LLC bought a new stake in Sun Communities during the first quarter valued at about $1,106,000. CANADA LIFE ASSURANCE Co lifted its position in shares of Sun Communities by 3.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 176,868 shares of the real estate investment trust’s stock valued at $22,733,000 after acquiring an additional 6,704 shares in the last quarter. Swedbank AB bought a new position in shares of Sun Communities in the first quarter worth about $13,660,000. Finally, SG Americas Securities LLC grew its position in shares of Sun Communities by 130.5% during the second quarter. SG Americas Securities LLC now owns 47,428 shares of the real estate investment trust’s stock worth $5,707,000 after purchasing an additional 26,852 shares in the last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Sun Communities Trading Up 1.1 %

Shares of NYSE SUI opened at $126.61 on Wednesday. The stock has a market capitalization of $16.13 billion, a P/E ratio of 68.07, a PEG ratio of 0.53 and a beta of 0.91. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. The business’s 50 day moving average is $133.84 and its two-hundred day moving average is $127.27. Sun Communities, Inc. has a 1-year low of $110.98 and a 1-year high of $147.83.

Sun Communities (NYSE:SUI) last released its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.20). The company had revenue of $939.90 million for the quarter, compared to analysts’ expectations of $980.41 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The business’s quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.57 EPS. As a group, research analysts expect that Sun Communities, Inc. will post 6.78 EPS for the current year.

Sun Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date was Monday, September 30th. Sun Communities’s dividend payout ratio (DPR) is currently 202.15%.

Analysts Set New Price Targets

A number of research firms recently commented on SUI. Baird R W cut Sun Communities from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. StockNews.com upgraded shares of Sun Communities from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. UBS Group lowered shares of Sun Communities from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $155.00 to $134.00 in a research report on Thursday, November 14th. Jefferies Financial Group began coverage on shares of Sun Communities in a report on Thursday, October 17th. They issued a “buy” rating and a $160.00 price target on the stock. Finally, Truist Financial increased their price objective on shares of Sun Communities from $127.00 to $138.00 and gave the company a “hold” rating in a report on Tuesday, August 13th. One 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $139.08.

Sun Communities Company 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.