AdvisorNet Financial Inc Decreases Holdings in Sun Communities, Inc. (NYSE:SUI) (2024)

Posted by Defense World Staff on Jun 26th, 2024

AdvisorNet Financial Inc trimmed its holdings in shares of Sun Communities, Inc. (NYSE:SUI – Free Report) by 9.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,720 shares of the real estate investment trust’s stock after selling 190 shares during the quarter. AdvisorNet Financial Inc’s holdings in Sun Communities were worth $221,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new position in Sun Communities during the 4th quarter valued at about $32,000. Quest Partners LLC bought a new position in Sun Communities during the 4th quarter valued at about $51,000. GAMMA Investing LLC bought a new position in Sun Communities during the 4th quarter valued at about $80,000. Tobam grew its holdings in Sun Communities by 64.0% during the 4th quarter. Tobam now owns 743 shares of the real estate investment trust’s stock valued at $99,000 after purchasing an additional 290 shares during the last quarter. Finally, Sugarloaf Wealth Management LLC grew its holdings in Sun Communities by 9.2% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 927 shares of the real estate investment trust’s stock valued at $124,000 after purchasing an additional 78 shares during the last quarter. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Craig Leupold sold 2,500 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $128.39, for a total transaction of $320,975.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.89% of the company’s stock.

Sun Communities Price Performance

NYSE SUI opened at $119.08 on Wednesday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.78 and a current ratio of 1.78. The firm’s 50 day moving average price is $117.65 and its 200-day moving average price is $125.37. Sun Communities, Inc. has a 52-week low of $102.74 and a 52-week high of $141.52. The company has a market cap of $14.84 billion, a PE ratio of 102.66, a P/E/G ratio of 1.06 and a beta of 0.87.

Sun Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.16%. Sun Communities’s dividend payout ratio is presently 324.14%.

Analyst Ratings Changes

SUI has been the topic of several analyst reports. Evercore ISI cut their price target on shares of Sun Communities from $145.00 to $128.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. JMP Securities restated a “market outperform” rating and issued a $150.00 target price on shares of Sun Communities in a research note on Thursday, May 2nd. Compass Point upped their target price on shares of Sun Communities from $116.00 to $125.00 and gave the stock a “neutral” rating in a research note on Thursday, March 21st. Truist Financial dropped their target price on shares of Sun Communities from $143.00 to $136.00 and set a “hold” rating on the stock in a research note on Monday, March 18th. Finally, Royal Bank of Canada dropped their target price on shares of Sun Communities from $142.00 to $130.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $136.27.

Check Out Our Latest Research Report on SUI

Sun Communities Profile

(Free Report)

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.

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