Farther Finance Advisors LLC Buys 236 Shares of Sun Communities, Inc. (NYSE:SUI)

Farther Finance Advisors LLC lifted its position in Sun Communities, Inc. (NYSE:SUI) by 89.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 501 shares of the real estate investment trust’s stock after purchasing an additional 236 shares during the period. Farther Finance Advisors LLC’s holdings in Sun Communities were worth $68,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Bristlecone Advisors LLC boosted its position in Sun Communities by 2.4% during the 2nd quarter. Bristlecone Advisors LLC now owns 3,655 shares of the real estate investment trust’s stock valued at $440,000 after buying an additional 85 shares during the period. Toronto Dominion Bank boosted its holdings in shares of Sun Communities by 0.8% during the second quarter. Toronto Dominion Bank now owns 11,916 shares of the real estate investment trust’s stock worth $1,434,000 after purchasing an additional 98 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Sun Communities by 15.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 762 shares of the real estate investment trust’s stock worth $92,000 after purchasing an additional 102 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in Sun Communities by 1.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 7,034 shares of the real estate investment trust’s stock valued at $846,000 after purchasing an additional 115 shares during the period. Finally, Fifth Third Bancorp raised its position in Sun Communities by 2.8% during the 2nd quarter. Fifth Third Bancorp now owns 5,179 shares of the real estate investment trust’s stock valued at $623,000 after purchasing an additional 142 shares during the last quarter. 99.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. StockNews.com upgraded Sun Communities from a “sell” rating to a “hold” rating in a research report on Tuesday. Jefferies Financial Group started 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. Wells Fargo & Company upped 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. Robert W. Baird lowered shares of Sun Communities from an “outperform” rating to a “neutral” rating and cut their target price for the company from $145.00 to $126.00 in a research note on Thursday, November 7th. Finally, BMO Capital Markets decreased their price target on shares of Sun Communities from $145.00 to $138.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $139.50.

Sun Communities Stock Performance

Shares of SUI opened at $124.18 on Wednesday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.09. The stock has a market cap of $15.48 billion, a P/E ratio of 66.76, a P/E/G ratio of 0.96 and a beta of 0.91. The business’s 50 day moving average price is $135.16 and its 200-day moving average price is $126.95. Sun Communities, Inc. has a 52 week low of $110.98 and a 52 week high of $147.83.

Sun Communities (NYSE:SUI) last released its earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.20). Sun Communities had a return on equity of 3.26% and a net margin of 7.46%. The company had revenue of $939.90 million during the quarter, compared to the consensus estimate of $980.41 million. During the same period last year, the firm posted $2.57 earnings per share. The company’s revenue was down 4.4% compared to the same quarter last year. Equities research analysts anticipate that Sun Communities, Inc. will post 6.76 earnings per share for the current fiscal year.

Sun Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.76 dividend on an annualized basis and a yield of 3.03%. Sun Communities’s dividend payout ratio is currently 202.15%.

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.