Jones Financial Companies Lllp Raises Position in Sun Communities, Inc. (NYSE:SUI)

Jones Financial Companies Lllp increased its position in Sun Communities, Inc. (NYSE:SUI) by 51.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,841 shares of the real estate investment trust’s stock after acquiring an additional 629 shares during the period. Jones Financial Companies Lllp’s holdings in Sun Communities were worth $226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. raised its stake in Sun Communities by 8.5% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,069 shares of the real estate investment trust’s stock worth $131,000 after acquiring an additional 84 shares during the last quarter. Cascade Investment Advisors Inc. raised its stake in Sun Communities by 0.8% in the 4th quarter. Cascade Investment Advisors Inc. now owns 10,373 shares of the real estate investment trust’s stock worth $1,276,000 after acquiring an additional 85 shares during the last quarter. Cetera Trust Company N.A raised its stake 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 buying an additional 105 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Sun Communities by 45.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 124 shares during the last quarter. Finally, Avior Wealth Management LLC raised its stake in shares of Sun Communities by 3.0% during the 3rd quarter. Avior Wealth Management LLC now owns 4,328 shares of the real estate investment trust’s stock valued at $585,000 after buying an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Sun Communities Trading Down 2.0 %

SUI opened at $125.59 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. The company’s 50 day simple moving average is $127.21 and its two-hundred day simple moving average is $129.60. Sun Communities, Inc. has a 1-year low of $110.98 and a 1-year high of $147.83. The firm has a market capitalization of $16.00 billion, a price-to-earnings ratio of 67.52 and a beta of 0.90.

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

Wall Street Analyst Weigh In

SUI has been the subject of a number of recent research reports. Wells Fargo & Company reduced their price objective on 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. Truist Financial raised their target price on Sun Communities from $136.00 to $142.00 and gave the company a “buy” rating in a research report on Monday. StockNews.com cut Sun Communities from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Jefferies Financial Group dropped their target price on Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Finally, UBS Group cut Sun Communities from a “buy” rating to a “neutral” rating and dropped their target price for the company from $155.00 to $134.00 in a research report on Thursday, November 14th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Sun Communities currently has an average rating of “Hold” and a consensus price target of $135.55.

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.