Lantern Wealth Advisors LLC Has $344,000 Stake in Sun Communities, Inc. (NYSE:SUI)

Lantern Wealth Advisors LLC lessened its position in shares of Sun Communities, Inc. (NYSE:SUI) by 15.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,800 shares of the real estate investment trust’s stock after selling 500 shares during the period. Lantern Wealth Advisors LLC’s holdings in Sun Communities were worth $344,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Park Avenue Securities LLC grew its stake in Sun Communities by 4.4% during the fourth quarter. Park Avenue Securities LLC now owns 4,811 shares of the real estate investment trust’s stock worth $592,000 after purchasing an additional 203 shares during the period. Arkadios Wealth Advisors grew its position in shares of Sun Communities by 13.1% during the 4th quarter. Arkadios Wealth Advisors now owns 5,847 shares of the real estate investment trust’s stock worth $719,000 after buying an additional 678 shares during the period. HB Wealth Management LLC increased its stake in shares of Sun Communities by 4.2% in the 4th quarter. HB Wealth Management LLC now owns 5,183 shares of the real estate investment trust’s stock valued at $637,000 after acquiring an additional 207 shares in the last quarter. Aurora Investment Managers LLC. increased its stake in shares of Sun Communities by 9.7% in the 4th quarter. Aurora Investment Managers LLC. now owns 27,490 shares of the real estate investment trust’s stock valued at $3,380,000 after acquiring an additional 2,435 shares in the last quarter. Finally, Cetera Trust Company N.A lifted its position in shares of Sun Communities by 6.0% during the 4th quarter. Cetera Trust Company N.A now owns 1,865 shares of the real estate investment trust’s stock valued at $229,000 after acquiring an additional 105 shares during the period. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Sun Communities Price Performance

Sun Communities stock opened at $123.45 on Tuesday. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. The stock has a market cap of $15.76 billion, a P/E ratio of 66.37 and a beta of 0.86. The company’s 50 day moving average price is $125.05 and its two-hundred day moving average price is $125.88. Sun Communities, Inc. has a 52 week low of $109.22 and a 52 week high of $147.83.

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

Sun Communities Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SUI shares. Royal Bank of Canada reduced their price target 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. Jefferies Financial Group began coverage on Sun Communities in a research note on Tuesday, April 8th. They issued a “buy” rating and a $150.00 target price for the company. Bank of America upped their price target on Sun Communities from $124.00 to $132.00 and gave the stock an “underperform” rating in a research note on Monday, May 12th. Robert W. Baird cut their price target on Sun Communities from $128.00 to $126.00 and set a “neutral” rating on the stock in a report on Thursday, May 8th. Finally, Truist Financial decreased their price objective on Sun Communities from $142.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $138.70.

Sun Communities 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.