Global Wealth Management Investment Advisory Inc. Has $587,000 Stock Position in Sun Communities, Inc. (NYSE:SUI)

Global Wealth Management Investment Advisory Inc. lifted its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 14.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,774 shares of the real estate investment trust’s stock after purchasing an additional 585 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in Sun Communities were worth $587,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SUI. Assetmark Inc. grew its position in Sun Communities by 2,111.1% during the 3rd quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 190 shares during the last quarter. Brooklyn Investment Group acquired a new stake in shares of Sun Communities during the third quarter valued at about $41,000. CKW Financial Group grew its holdings in shares of Sun Communities by 45.0% during the fourth quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 135 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Sun Communities during the third quarter worth about $60,000. Finally, Farther Finance Advisors LLC increased its stake in shares of Sun Communities by 89.1% in the third quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock valued at $68,000 after buying an additional 236 shares during the period. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on SUI shares. Baird R W downgraded shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Wells Fargo & Company cut their price target on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 11th. Jefferies Financial Group decreased their price objective on Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Robert W. Baird downgraded Sun Communities from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $145.00 to $126.00 in a report on Thursday, November 7th. Finally, Royal Bank of Canada decreased their price target on Sun Communities from $147.00 to $135.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $134.55.

Sun Communities Trading Down 0.1 %

Shares of SUI stock opened at $125.27 on Monday. Sun Communities, Inc. has a 1 year low of $110.98 and a 1 year high of $147.83. The company’s fifty day simple moving average is $124.35 and its two-hundred day simple moving average is $129.61. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. The stock has a market capitalization of $15.96 billion, a price-to-earnings ratio of 67.35 and a beta of 0.90.

Sun Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.94 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.76 dividend on an annualized basis and a yield of 3.00%. Sun Communities’s dividend payout ratio is presently 202.15%.

About Sun Communities

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.