Cascade Investment Advisors Inc. Has $1.35 Million Position in Sun Communities, Inc. (NYSE:SUI)

Cascade Investment Advisors Inc. increased its stake in Sun Communities, Inc. (NYSE:SUI) by 1.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,473 shares of the real estate investment trust’s stock after purchasing an additional 100 shares during the period. Cascade Investment Advisors Inc.’s holdings in Sun Communities were worth $1,347,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Exchange Traded Concepts LLC lifted its position in Sun Communities by 20.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,559 shares of the real estate investment trust’s stock valued at $192,000 after purchasing an additional 267 shares during the period. Blue Trust Inc. raised its stake in shares of Sun Communities by 86.2% during the fourth quarter. Blue Trust Inc. now owns 1,164 shares of the real estate investment trust’s stock worth $157,000 after buying an additional 539 shares during the last quarter. Forsta AP Fonden raised its stake in shares of Sun Communities by 10.2% during the fourth quarter. Forsta AP Fonden now owns 20,500 shares of the real estate investment trust’s stock worth $2,521,000 after buying an additional 1,900 shares during the last quarter. Osborne Partners Capital Management LLC lifted its holdings in Sun Communities by 0.9% in the fourth quarter. Osborne Partners Capital Management LLC now owns 44,171 shares of the real estate investment trust’s stock valued at $5,432,000 after buying an additional 414 shares during the period. Finally, U.S. Capital Wealth Advisors LLC boosted its stake in Sun Communities by 6.0% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 11,187 shares of the real estate investment trust’s stock valued at $1,376,000 after acquiring an additional 637 shares during the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SUI. Royal Bank of Canada lowered their target price on shares of Sun Communities from $154.00 to $147.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. Bank of America lifted their price objective on Sun Communities from $124.00 to $132.00 and gave the stock an “underperform” rating in a research note on Monday, May 12th. Wall Street Zen upgraded Sun Communities from a “sell” rating to a “hold” rating in a report on Saturday. Barclays initiated coverage on Sun Communities in a research note on Thursday. They issued an “overweight” rating and a $141.00 target price on the stock. Finally, Truist Financial decreased their target price on Sun Communities from $142.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $138.91.

Sun Communities Stock Up 0.8%

Shares of Sun Communities stock opened at $123.38 on Friday. The company has a market capitalization of $15.75 billion, a P/E ratio of 66.33 and a beta of 0.86. 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 business has a 50-day moving average of $123.49 and a two-hundred day moving average of $125.50. Sun Communities, Inc. has a 1 year low of $109.22 and a 1 year high of $147.83.

Sun Communities (NYSE:SUI) last issued its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.08. The business had revenue of $470.20 million during the quarter, compared to analyst estimates of $538.63 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. Sun Communities’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.19 EPS. As a group, equities analysts predict that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.94 per share. The ex-dividend date was Monday, March 31st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.05%. Sun Communities’s payout ratio is 606.45%.

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.