Waratah Capital Advisors Ltd. Has $85.18 Million Stake in Sun Communities, Inc. (NYSE:SUI)

Waratah Capital Advisors Ltd. cut its holdings in Sun Communities, Inc. (NYSE:SUIGet Rating) by 27.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 485,939 shares of the real estate investment trust’s stock after selling 185,732 shares during the period. Sun Communities makes up approximately 1.1% of Waratah Capital Advisors Ltd.’s portfolio, making the stock its 7th biggest position. Waratah Capital Advisors Ltd. owned approximately 0.40% of Sun Communities worth $85,180,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Riverview Trust Co bought a new stake in Sun Communities during the 1st quarter worth approximately $28,000. MUFG Americas Holdings Corp lifted its stake in Sun Communities by 56.5% in the fourth quarter. MUFG Americas Holdings Corp now owns 288 shares of the real estate investment trust’s stock valued at $60,000 after purchasing an additional 104 shares during the last quarter. CWM LLC purchased a new position in Sun Communities in the fourth quarter valued at approximately $67,000. First Horizon Advisors Inc. lifted its position in shares of Sun Communities by 60.6% during the fourth quarter. First Horizon Advisors Inc. now owns 318 shares of the real estate investment trust’s stock worth $67,000 after acquiring an additional 120 shares in the last quarter. Finally, Prospera Financial Services Inc purchased a new stake in shares of Sun Communities during the first quarter worth $58,000.

Wall Street Analyst Weigh In

Several research firms have issued reports on SUI. Truist Financial initiated coverage on Sun Communities in a research report on Tuesday, May 10th. They set a “buy” rating and a $185.00 target price on the stock. Evercore ISI set a $194.00 price target on shares of Sun Communities in a report on Monday, June 20th. StockNews.com cut Sun Communities from a “hold” rating to a “sell” rating in a research note on Thursday, May 5th. BMO Capital Markets reduced their target price on Sun Communities from $202.00 to $185.00 and set a “buy” rating on the stock in a research note on Friday, July 1st. Finally, Wolfe Research started coverage on shares of Sun Communities in a research report on Friday, July 15th. They set a “peer perform” rating for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $203.75.

Insiders Place Their Bets

In other news, Director Clunet R. Lewis sold 4,400 shares of Sun Communities stock in a transaction on Wednesday, June 15th. The shares were sold at an average price of $153.39, for a total transaction of $674,916.00. Following the transaction, the director now owns 26,400 shares in the company, valued at approximately $4,049,496. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.25% of the stock is currently owned by insiders.

Sun Communities Stock Down 0.2 %

Shares of SUI traded down $0.40 on Friday, hitting $162.17. 431,979 shares of the stock traded hands, compared to its average volume of 606,703. The company has a market capitalization of $20.00 billion, a PE ratio of 59.40, a P/E/G ratio of 2.65 and a beta of 0.60. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.24 and a current ratio of 2.24. The business has a 50 day simple moving average of $160.10 and a 200 day simple moving average of $172.13. Sun Communities, Inc. has a one year low of $148.64 and a one year high of $211.79.

Sun Communities (NYSE:SUIGet Rating) last posted its earnings results on Monday, July 25th. The real estate investment trust reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.19). Sun Communities had a return on equity of 4.42% and a net margin of 12.33%. During the same quarter in the prior year, the company posted $1.80 earnings per share. As a group, equities analysts forecast that Sun Communities, Inc. will post 7.24 earnings per share for the current fiscal year.

Sun Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend was Wednesday, June 29th. Sun Communities’s dividend payout ratio (DPR) is presently 128.94%.

Sun Communities Company Profile

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Sun Communities, Inc is a REIT that, as of March 31, 2022, owned, operated, or had an interest in a portfolio of 603 developed MH, RV and marina properties comprising nearly 159,300 developed sites and over 45,700 wet slips and dry storage spaces in 39 states, Canada, Puerto Rico and the UK.

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Institutional Ownership by Quarter for Sun Communities (NYSE:SUI)

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