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Intech Investment Management LLC lowered its stake in Sun Communities, Inc. ( NYSE:SUI – Free Report ) by 34.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,744 shares of the real estate investment trust’s stock after selling 3,075 shares during the period. Intech Investment Management LLC’s holdings in Sun Communities were worth $776,000 as of its most recent SEC filing. Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Advisors Asset Management Inc. increased its stake in shares of Sun Communities by 22.6% in the third quarter. Advisors Asset Management Inc. now owns 13,677 shares of the real estate investment trust’s stock worth $1,848,000 after buying an additional 2,521 shares during the period. Avior Wealth Management LLC grew its holdings in Sun Communities by 3.0% in the 3rd quarter. Avior Wealth Management LLC now owns 4,328 shares of the real estate investment trust’s stock worth $585,000 after acquiring an additional 125 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Sun Communities in the 3rd quarter worth $390,000. Napa Wealth Management purchased a new position in shares of Sun Communities in the third quarter valued at about $255,000. Finally, AMG National Trust Bank bought a new position in shares of Sun Communities during the third quarter valued at about $1,690,000. Institutional investors own 99.59% of the company’s stock. Wall Street Analyst Weigh In SUI has been the topic of several recent analyst reports. UBS Group cut Sun Communities from a “buy” rating to a “neutral” rating and cut their target price for the stock from $155.00 to $134.00 in a research note on Thursday, November 14th. Jefferies Financial Group initiated coverage on Sun Communities in a research report on Thursday, October 17th. They issued a “buy” rating and a $160.00 price objective on the stock. Royal Bank of Canada decreased their target price on Sun Communities from $147.00 to $135.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Truist Financial raised their price target on Sun Communities from $127.00 to $138.00 and gave the stock a “hold” rating in a research note on Tuesday, August 13th. Finally, Bank of America downgraded shares of Sun Communities from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $147.00 to $114.00 in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $139.08. Sun Communities Stock Performance SUI opened at $126.33 on Friday. The company has a fifty day moving average of $130.92 and a 200 day moving average of $127.79. Sun Communities, Inc. has a fifty-two week low of $110.98 and a fifty-two week high of $147.83. The stock has a market capitalization of $16.09 billion, a price-to-earnings ratio of 67.92, a PEG ratio of 0.54 and a beta of 0.91. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. Sun Communities ( NYSE:SUI – Get Free Report ) last posted its earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The firm had revenue of $939.90 million during the quarter, compared to analysts’ expectations of $980.41 million. During the same quarter in the prior year, the firm posted $2.57 earnings per share. Sun Communities’s quarterly revenue was down 4.4% on a year-over-year basis. As a group, sell-side analysts forecast that Sun Communities, Inc. will post 6.78 earnings per share for the current fiscal year. Sun Communities Announces Dividend The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.94 per share. The ex-dividend date was Monday, September 30th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.98%. Sun Communities’s dividend payout ratio is currently 202.15%. About Sun Communities ( Free Report ) 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. Read More Want to see what other hedge funds are holding SUI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sun Communities, Inc. ( NYSE:SUI – Free Report ). Receive News & Ratings for Sun Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sun Communities and related companies with MarketBeat.com's FREE daily email newsletter .

Josh Jacobs injury update: Packers RB heads to locker room with crampsDaniel Bwala , Special Adviser on Policy Communication to President Bola Tinubu, has defended the controversial tax reform bills currently before the National Assembly, stating that they are in line with the President’s manifesto and campaign promises. Speaking on the matter, Bwala emphasized that the reforms, including the proposed amendment to the distribution of Value Added Tax (VAT) revenue, reflect Tinubu’s vision for a more equitable tax system in Nigeria. The bills are: The Nigeria Tax Bill 2024, which is expected to provide the fiscal framework for taxation in the country; and the Tax Administration Bill, which will provide a clear and concise legal framework for all taxes in the country and reduce disputes. Others include: the Nigeria Revenue Service Establishment Bill, which will repeal the Federal Inland Revenue Service (FIRS) Act and establish the Nigeria Revenue Service (NRS), and the Joint Revenue Board Establishment Bill, which will create a tax tribunal and a tax ombudsman. Speaking on Trust Tv’s Sunday Politics programme, Bwala said that it was not an obsession, but actually part of the mandate of the president. Bwala said, “Remember when he went on campaign, he campaigned on those promises. And it is encapsulated in his manifesto, actually. So he is trying to make good his promise to the Nigerian people. And so there is no obsession there. It is passion to deliver on good governance. “And the reason why you hear the outcry and the belief that the tax bill is against the North is because some stakeholders in the North lend their voice in that regard. In other words, people peddle the politicization of the bill because quite frankly, a lot of them have not looked at the bill. I mean, some of the proponents of the bill are Northerners. “If you carefully look at that bill, actually, it is the harmonization of all the tax laws in the country to deliver efficient tax administration in Nigeria. Let me just tell you a few things about that. It is classified into four different enactments. You have the Nigerian tax bill, which is, of course, the model or the grown-up of all the tax administration. “So it is, apart from the tax bill, you have the Nigerian tax administration bill. We have the revenue service establishment bill. We also have the joint revenue board establishment bill. “In the tax bill, Nigerians will benefits a lot. For instance, the exemption of individuals earning below N800,000 from paying tax. Isn’t it wonderful? Because before now, even if you’re earning N800,000 or you’re earning below N800,000, you will have to pay certain tax. “But in this tax administration, if your earning per annum is less than N800,000, you are not required to pay tax. And that has nothing to do with the north or the south. And those earning N50m, for example, will pay 25% of their income rate. “But under the current law, even if it is N3.2m, you will still be required to pay tax. That is the exemption of business from paying income tax. If the business’s annual income is less than N50m, you also have the reduction of company income tax rate from 30 to 25.” The presidential aide also listed some of the benefits of the harmonization of the tax bill. “First, private citizens. Secondly, income earners, people who work, were working class. And the third one, those who do small-scale business, like the SMEs, because we need to encourage small and medium-scale businesses. “And the fourth one, of course, companies that are either small or big in their own right. And then, of course, the coordination of tax, so that we do not have all these tax embellished in different laws that at the end of the day, the implementation or administration of the tax becomes incumbent on the Nigerian people,” Bwala said.Addressing the text scam scourge

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