Argonautica Private Wealth Management Inc. Purchases 126 Shares of Sun Communities, Inc. (NYSE:SUI)

Argonautica Private Wealth Management Inc. boosted its position in Sun Communities, Inc. (NYSE:SUI) by 4.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,901 shares of the real estate investment trust’s stock after purchasing an additional 126 shares during the period. Argonautica Private Wealth Management Inc.’s holdings in Sun Communities were worth $357,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of SUI. Creative Planning lifted its stake in shares of Sun Communities by 56.8% during the 3rd quarter. Creative Planning now owns 9,491 shares of the real estate investment trust’s stock worth $1,283,000 after buying an additional 3,439 shares during the last quarter. Blue Trust Inc. grew its stake in Sun Communities by 230.7% during the third quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock worth $84,000 after buying an additional 436 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Sun Communities by 13,314.2% during the 3rd quarter. International Assets Investment Management LLC now owns 17,975 shares of the real estate investment trust’s stock worth $2,429,000 after acquiring an additional 17,841 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Sun Communities by 5.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,338 shares of the real estate investment trust’s stock valued at $862,000 after acquiring an additional 308 shares during the last quarter. Finally, Forsta AP Fonden raised its position in Sun Communities by 29.2% during the third quarter. Forsta AP Fonden now owns 18,600 shares of the real estate investment trust’s stock valued at $2,514,000 after purchasing an additional 4,200 shares in the last quarter. Institutional investors own 99.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on SUI shares. BMO Capital Markets lowered their target price on Sun Communities from $145.00 to $138.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Robert W. Baird downgraded shares of Sun Communities from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $145.00 to $126.00 in a research note on Thursday, November 7th. Jefferies Financial Group decreased their target price on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Royal Bank of Canada dropped 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. Finally, Bank of America lowered Sun Communities from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $147.00 to $114.00 in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $134.55.

Sun Communities Trading Up 0.5 %

SUI opened at $134.98 on Wednesday. The stock has a market cap of $17.20 billion, a PE ratio of 72.57 and a beta of 0.90. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. Sun Communities, Inc. has a twelve month low of $110.98 and a twelve month high of $147.83. The company has a fifty day moving average of $125.03 and a 200-day moving average of $129.52.

Sun Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date was Tuesday, December 31st. Sun Communities’s dividend payout ratio is currently 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.