GC Wealth Management RIA LLC Acquires 813 Shares of Sun Communities, Inc. $SUI

GC Wealth Management RIA LLC boosted its holdings in Sun Communities, Inc. (NYSE:SUI) by 12.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 7,570 shares of the real estate investment trust’s stock after purchasing an additional 813 shares during the period. GC Wealth Management RIA LLC’s holdings in Sun Communities were worth $958,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Mackenzie Financial Corp grew its stake in shares of Sun Communities by 11.6% in the fourth quarter. Mackenzie Financial Corp now owns 7,383 shares of the real estate investment trust’s stock worth $908,000 after acquiring an additional 765 shares during the last quarter. GAMMA Investing LLC grew its position in Sun Communities by 15,820.3% in the 1st quarter. GAMMA Investing LLC now owns 134,686 shares of the real estate investment trust’s stock worth $17,326,000 after purchasing an additional 133,840 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Sun Communities by 66.4% during the 1st quarter. Parallel Advisors LLC now owns 476 shares of the real estate investment trust’s stock worth $61,000 after purchasing an additional 190 shares during the period. Rhumbline Advisers raised its position in shares of Sun Communities by 1.2% during the first quarter. Rhumbline Advisers now owns 161,933 shares of the real estate investment trust’s stock valued at $20,831,000 after buying an additional 1,999 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Sun Communities by 28.8% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,377 shares of the real estate investment trust’s stock valued at $177,000 after buying an additional 308 shares during the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SUI has been the topic of a number of recent research reports. Royal Bank Of Canada decreased their target price on Sun Communities from $147.00 to $143.00 and set an “outperform” rating on the stock in a research report on Friday, August 1st. Wells Fargo & Company reduced their price objective on Sun Communities from $135.00 to $132.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 27th. Truist Financial boosted their price objective on Sun Communities from $137.00 to $141.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Wall Street Zen raised Sun Communities from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Morgan Stanley set a $142.00 price target on shares of Sun Communities in a research note on Thursday, September 4th. Six analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Sun Communities presently has an average rating of “Hold” and a consensus target price of $137.86.

Sun Communities Price Performance

Sun Communities stock opened at $129.01 on Tuesday. The business has a 50 day simple moving average of $126.34 and a 200 day simple moving average of $125.50. The company has a debt-to-equity ratio of 0.55, a current ratio of 7.08 and a quick ratio of 7.08. The company has a market capitalization of $16.15 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 6.64 and a beta of 0.86. Sun Communities, Inc. has a one year low of $109.22 and a one year high of $140.49.

Sun Communities (NYSE:SUI) last released its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.09. Sun Communities had a negative return on equity of 0.60% and a net margin of 48.86%.The firm had revenue of $623.50 million during the quarter, compared to analyst estimates of $614.79 million. During the same period in the prior year, the company posted $1.86 earnings per share. Sun Communities has set its FY 2025 guidance at 6.510-6.670 EPS. Q3 2025 guidance at 2.130-2.230 EPS. On average, sell-side analysts forecast that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a $1.04 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $4.16 dividend on an annualized basis and a yield of 3.2%. Sun Communities’s payout ratio is 40.70%.

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.