Sun Communities, Inc. (NYSE:SUI) Stake Trimmed by LGT Financial Advisors LLC

LGT Financial Advisors LLC cut its position in shares of Sun Communities, Inc. (NYSE:SUI) by 45.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 338 shares of the real estate investment trust’s stock after selling 279 shares during the quarter. LGT Financial Advisors LLC’s holdings in Sun Communities were worth $46,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SUI. Quest Partners LLC grew its stake in Sun Communities by 12,700.0% during the 2nd quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 381 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new position in Sun Communities in the 2nd quarter valued at approximately $62,000. Farther Finance Advisors LLC lifted its position in Sun Communities by 89.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock worth $68,000 after buying an additional 236 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Sun Communities by 230.7% during the 3rd quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock valued at $84,000 after buying an additional 436 shares during the period. Finally, Crewe Advisors LLC purchased a new position in shares of Sun Communities during the 1st quarter valued at $90,000. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SUI has been the subject of several recent research reports. Truist Financial boosted their price target on Sun Communities from $127.00 to $138.00 and gave the company a “hold” rating in a research note on Tuesday, August 13th. Robert W. Baird raised their price target on shares of Sun Communities from $144.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, September 3rd. Royal Bank of Canada upped their price objective on shares of Sun Communities from $131.00 to $137.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Wells Fargo & Company raised their target price on Sun Communities from $123.00 to $154.00 and gave the company an “equal weight” rating in a report on Thursday, September 19th. Finally, Evercore ISI upped their price target on Sun Communities from $149.00 to $150.00 and gave the stock an “in-line” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Sun Communities currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.91.

Sun Communities Stock Down 1.0 %

SUI opened at $131.83 on Thursday. The business has a 50 day moving average of $135.71 and a 200-day moving average of $126.78. The stock has a market capitalization of $16.44 billion, a price-to-earnings ratio of 153.29, a P/E/G ratio of 0.95 and a beta of 0.91. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.09. Sun Communities, Inc. has a 1-year low of $110.98 and a 1-year high of $147.83.

Sun Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.94 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.76 annualized dividend and a yield of 2.85%. Sun Communities’s dividend payout ratio is 437.21%.

Sun Communities 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.