Avior Wealth Management LLC Acquires 396 Shares of Sun Communities, Inc. (NYSE:SUI)

Avior Wealth Management LLC raised its holdings in Sun Communities, Inc. (NYSE:SUI) by 10.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,123 shares of the real estate investment trust’s stock after purchasing an additional 396 shares during the period. Avior Wealth Management LLC’s holdings in Sun Communities were worth $551,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Eagle Bay Advisors LLC acquired a new stake in shares of Sun Communities in the second quarter valued at approximately $27,000. Lindbrook Capital LLC raised its holdings in Sun Communities by 120.2% in the 3rd quarter. Lindbrook Capital LLC now owns 229 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 125 shares in the last quarter. Spire Wealth Management lifted its position in shares of Sun Communities by 102.2% during the 3rd quarter. Spire Wealth Management now owns 465 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 235 shares during the period. Tobam lifted its position in shares of 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 acquiring an additional 290 shares during the period. Finally, First Manhattan Co. acquired a new stake in shares of Sun Communities during the 1st quarter worth $131,000. Institutional investors own 99.59% of the company’s stock.

Insider Buying and Selling at Sun Communities

In other news, Director Clunet R. Lewis sold 500 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $131.13, for a total transaction of $65,565.00. Following the completion of the sale, the director now directly owns 28,400 shares in the company, valued at $3,724,092. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Clunet R. Lewis sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $131.13, for a total transaction of $65,565.00. Following the completion of the transaction, the director now owns 28,400 shares in the company, valued at $3,724,092. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Craig Leupold sold 2,500 shares of Sun Communities stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $128.39, for a total transaction of $320,975.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,000 shares of company stock worth $912,460. 1.89% of the stock is currently owned by company insiders.

Sun Communities Price Performance

Shares of Sun Communities stock opened at $117.95 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.66 and a quick ratio of 1.66. Sun Communities, Inc. has a one year low of $102.74 and a one year high of $141.52. The business’s 50 day simple moving average is $128.05 and its two-hundred day simple moving average is $125.04. The stock has a market capitalization of $14.70 billion, a P/E ratio of 103.47, a price-to-earnings-growth ratio of 7.57 and a beta of 0.80.

Sun Communities Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date was Wednesday, March 27th. This is a positive change from Sun Communities’s previous quarterly dividend of $0.93. Sun Communities’s dividend payout ratio (DPR) is 329.83%.

Analysts Set New Price Targets

SUI has been the topic of several recent analyst reports. JMP Securities reissued a “market outperform” rating and issued a $150.00 target price on shares of Sun Communities in a report on Wednesday, March 20th. Compass Point increased their price target on Sun Communities from $116.00 to $125.00 and gave the company a “neutral” rating in a research note on Thursday, March 21st. Truist Financial lowered their price objective on Sun Communities from $143.00 to $136.00 and set a “hold” rating for the company in a research note on Monday, March 18th. Deutsche Bank Aktiengesellschaft began coverage on Sun Communities in a research note on Tuesday, January 30th. They issued a “hold” rating and a $129.00 price objective on the stock. Finally, Barclays cut their target price on shares of Sun Communities from $157.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, January 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Sun Communities has a consensus rating of “Hold” and a consensus target price of $141.17.

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.