New Age Alpha Advisors LLC Makes New Investment in Sun Communities, Inc. (NYSE:SUI)

New Age Alpha Advisors LLC purchased a new position in Sun Communities, Inc. (NYSE:SUI) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 18,672 shares of the real estate investment trust’s stock, valued at approximately $2,296,000.

Several other hedge funds and other institutional investors have also modified their holdings of SUI. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Sun Communities by 8.5% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,069 shares of the real estate investment trust’s stock worth $131,000 after acquiring an additional 84 shares during the last quarter. Cascade Investment Advisors Inc. lifted its holdings in shares of Sun Communities by 0.8% in the 4th quarter. Cascade Investment Advisors Inc. now owns 10,373 shares of the real estate investment trust’s stock worth $1,276,000 after purchasing an additional 85 shares during the last quarter. Cetera Trust Company N.A boosted its position in Sun Communities by 6.0% during the 4th quarter. Cetera Trust Company N.A now owns 1,865 shares of the real estate investment trust’s stock valued at $229,000 after purchasing an additional 105 shares during the period. Smartleaf Asset Management LLC grew its stake in Sun Communities by 45.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 124 shares during the last quarter. Finally, Argonautica Private Wealth Management Inc. increased its position in Sun Communities by 4.5% in the fourth quarter. Argonautica Private Wealth Management Inc. now owns 2,901 shares of the real estate investment trust’s stock worth $357,000 after buying an additional 126 shares during the period. 99.59% of the stock is owned by institutional investors and hedge funds.

Sun Communities Stock Up 1.5 %

Shares of SUI stock opened at $130.04 on Friday. Sun Communities, Inc. has a 1 year low of $110.98 and a 1 year high of $147.83. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. The business’s fifty day moving average is $128.88 and its 200-day moving average is $129.11. The stock has a market cap of $16.59 billion, a PE ratio of 69.91 and a beta of 0.90.

Sun Communities (NYSE:SUI) last released its earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The firm had revenue of $745.90 million for the quarter, compared to analyst estimates of $724.68 million. Equities analysts expect that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 2.89%. The ex-dividend date is Monday, March 31st. Sun Communities’s dividend payout ratio is presently 508.11%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SUI shares. Truist Financial boosted their price target on shares of Sun Communities from $136.00 to $142.00 and gave the company a “buy” rating in a report on Monday, March 10th. Royal Bank of Canada restated an “outperform” rating on shares of Sun Communities in a research report on Friday, February 28th. Wells Fargo & Company cut their price target on Sun Communities from $154.00 to $135.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 11th. Finally, 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. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, Sun Communities currently has an average rating of “Hold” and a consensus price target of $136.60.

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.