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

Argonautica Private Wealth Management Inc. boosted its holdings in Sun Communities, Inc. (NYSE:SUI) by 4.5% during the 4th quarter, Holdings Channel reports. The firm owned 2,901 shares of the real estate investment trust’s stock after acquiring 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 Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of SUI. Assetmark Inc. grew its position in Sun Communities by 2,111.1% during the third quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 190 shares during the period. Brooklyn Investment Group purchased a new position in Sun Communities in the 3rd quarter valued at approximately $41,000. CKW Financial Group boosted its stake in Sun Communities by 45.0% in the 4th quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 135 shares during the period. Point72 Hong Kong Ltd purchased a new stake in Sun Communities in the 3rd quarter worth approximately $60,000. Finally, Farther Finance Advisors LLC boosted its holdings in Sun Communities by 89.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock valued at $68,000 after purchasing an additional 236 shares during the period. Institutional investors own 99.59% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on SUI. Jefferies Financial Group decreased their target price on Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Bank of America lowered shares of Sun Communities from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $147.00 to $114.00 in a report on Tuesday, November 12th. Robert W. Baird downgraded Sun Communities from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $145.00 to $126.00 in a research report on Thursday, November 7th. Wells Fargo & Company lowered their price target on Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. Finally, UBS Group lowered Sun Communities from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $155.00 to $134.00 in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $134.55.

Sun Communities Stock Up 0.5 %

Sun Communities stock opened at $134.98 on Wednesday. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. The stock has a fifty day simple moving average of $125.03 and a two-hundred day simple moving average of $129.52. Sun Communities, Inc. has a 12 month low of $110.98 and a 12 month high of $147.83. The firm has a market cap of $17.20 billion, a price-to-earnings ratio of 72.57 and a beta of 0.90.

Sun Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.94 dividend. 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 payout ratio is 202.15%.

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.