U.S. Capital Wealth Advisors LLC Cuts Stock Holdings in Sun Communities, Inc. (NYSE:SUI)

U.S. Capital Wealth Advisors LLC trimmed its stake in Sun Communities, Inc. (NYSE:SUI) by 0.9% during the 4th quarter, Holdings Channel reports. The firm owned 10,993 shares of the real estate investment trust’s stock after selling 103 shares during the quarter. U.S. Capital Wealth Advisors LLC’s holdings in Sun Communities were worth $1,469,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SUI. Lindbrook Capital LLC increased its holdings in shares of Sun Communities by 120.2% in the 3rd quarter. Lindbrook Capital LLC now owns 229 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 125 shares during the last quarter. Spire Wealth Management increased its stake in Sun Communities by 102.2% in the third 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 last quarter. GAMMA Investing LLC purchased a new stake in Sun Communities during the fourth quarter valued at about $80,000. Tobam lifted its stake in Sun Communities by 64.0% during the fourth quarter. Tobam now owns 743 shares of the real estate investment trust’s stock worth $99,000 after purchasing an additional 290 shares during the last quarter. Finally, Sugarloaf Wealth Management LLC boosted its holdings in shares of Sun Communities by 33.9% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 849 shares of the real estate investment trust’s stock worth $100,000 after purchasing an additional 215 shares in the last quarter. 99.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SUI has been the topic of a number of research reports. Evercore ISI decreased their price objective on Sun Communities from $145.00 to $128.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. BMO Capital Markets decreased their price target on shares of Sun Communities from $143.00 to $140.00 and set an “outperform” rating on the stock in a research note on Monday, January 22nd. Deutsche Bank Aktiengesellschaft began coverage on shares of Sun Communities in a report on Tuesday, January 30th. They issued a “hold” rating and a $129.00 price objective for the company. Royal Bank of Canada reduced their target price on shares of Sun Communities from $142.00 to $130.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Finally, Barclays lowered their price target on shares of Sun Communities from $157.00 to $155.00 and set an “overweight” rating for the company in a research note on Friday, January 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $138.92.

Insider Activity

In other Sun Communities 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 transaction, the director now owns 28,400 shares in the company, valued at approximately $3,724,092. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Sun Communities news, Director Clunet R. Lewis sold 500 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $3,724,092. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Baxter Underwood sold 4,000 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $131.48, for a total transaction of $525,920.00. Following the completion of the sale, the chief executive officer now directly owns 66,852 shares in the company, valued at $8,789,700.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,000 shares of company stock valued at $912,460. Corporate insiders own 1.89% of the company’s stock.

Sun Communities Stock Performance

Shares of SUI stock opened at $117.30 on Monday. The firm has a market capitalization of $14.62 billion, a price-to-earnings ratio of 101.12, a PEG ratio of 1.05 and a beta of 0.83. The stock has a fifty day moving average of $125.54 and a 200 day moving average of $125.73. Sun Communities, Inc. has a 52 week low of $102.74 and a 52 week high of $141.52. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 1.08.

Sun Communities Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 3.21%. This is a boost from Sun Communities’s previous quarterly dividend of $0.93. The ex-dividend date was Wednesday, March 27th. Sun Communities’s dividend payout ratio (DPR) is currently 324.14%.

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.