Pasadena Private Wealth LLC Sells 153 Shares of Sun Communities, Inc. (NYSE:SUI)

Pasadena Private Wealth LLC decreased its position in Sun Communities, Inc. (NYSE:SUI) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,342 shares of the real estate investment trust’s stock after selling 153 shares during the period. Pasadena Private Wealth LLC’s holdings in Sun Communities were worth $534,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SUI. FMR LLC lifted its position in Sun Communities by 37.6% during the 3rd quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust’s stock valued at $707,329,000 after purchasing an additional 1,430,630 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Sun Communities by 1,061.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,323,479 shares of the real estate investment trust’s stock valued at $178,868,000 after buying an additional 1,209,522 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Sun Communities by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,075,541 shares of the real estate investment trust’s stock valued at $145,359,000 after acquiring an additional 3,254 shares during the last quarter. Westfield Capital Management Co. LP grew its holdings in Sun Communities by 58.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 959,879 shares of the real estate investment trust’s stock worth $129,728,000 after acquiring an additional 355,427 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of Sun Communities by 16.1% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 779,744 shares of the real estate investment trust’s stock valued at $95,885,000 after acquiring an additional 108,054 shares during the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Baird R W lowered Sun Communities from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Wells Fargo & Company reduced their target price 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. StockNews.com cut Sun Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. BMO Capital Markets dropped their price objective on Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Finally, Jefferies Financial Group lowered their target price 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 analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $134.55.

Sun Communities Price Performance

NYSE:SUI opened at $125.96 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 firm has a fifty day simple moving average of $124.28 and a 200 day simple moving average of $129.62. The stock has a market capitalization of $16.05 billion, a PE ratio of 67.72 and a beta of 0.90. Sun Communities, Inc. has a 1-year low of $110.98 and a 1-year high of $147.83.

Sun Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.94 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.76 dividend on an annualized basis and a yield of 2.99%. Sun Communities’s dividend payout ratio (DPR) is currently 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.