Mutual of America Capital Management LLC Acquires 772 Shares of Sun Communities, Inc. (NYSE:SUI)

Mutual of America Capital Management LLC grew its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,451 shares of the real estate investment trust’s stock after acquiring an additional 772 shares during the period. Mutual of America Capital Management LLC’s holdings in Sun Communities were worth $2,269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of SUI. Assetmark Inc. grew its holdings 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 purchasing an additional 190 shares during the period. Brooklyn Investment Group purchased a new position in shares of Sun Communities during the 3rd quarter valued at about $41,000. CKW Financial Group grew its stake in shares of Sun Communities by 45.0% during the 4th quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock valued at $53,000 after acquiring 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 raised its stake in Sun Communities by 89.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock worth $68,000 after acquiring an additional 236 shares during the period. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Sun Communities Stock Up 1.7 %

Shares of NYSE SUI opened at $133.60 on Friday. Sun Communities, Inc. has a 1 year low of $110.98 and a 1 year high of $147.83. The firm has a 50-day simple moving average of $126.73 and a two-hundred day simple moving average of $129.70. The company has a market cap of $17.02 billion, a P/E ratio of 71.83 and a beta of 0.90. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61.

Sun Communities (NYSE:SUI) last issued its quarterly earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. The firm had revenue of $745.90 million during the quarter, compared to analyst estimates of $724.68 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. Research analysts anticipate that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SUI. Wells Fargo & Company reduced their price objective on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 11th. UBS Group cut Sun Communities from a “buy” rating to a “neutral” rating and decreased their price target for the company from $155.00 to $134.00 in a report on Thursday, November 14th. Bank of America downgraded Sun Communities from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $147.00 to $114.00 in a research report on Tuesday, November 12th. Jefferies Financial Group cut their target price on Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Finally, StockNews.com cut Sun Communities from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Two 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $134.55.

About Sun Communities

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.