Sun Communities, Inc. (NYSE:SUI) Shares Sold by Atria Investments Inc

Atria Investments Inc lessened its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 39.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,107 shares of the real estate investment trust’s stock after selling 2,710 shares during the period. Atria Investments Inc’s holdings in Sun Communities were worth $505,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. FMR LLC lifted its position in shares of 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 acquiring an additional 1,430,630 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Sun Communities by 1,061.4% during the 3rd 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 acquiring an additional 1,209,522 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Sun Communities by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,123,440 shares of the real estate investment trust’s stock valued at $138,149,000 after acquiring an additional 47,899 shares during the last quarter. Westfield Capital Management Co. LP lifted its holdings in shares of Sun Communities by 58.8% in the third quarter. Westfield Capital Management Co. LP now owns 959,879 shares of the real estate investment trust’s stock valued at $129,728,000 after purchasing an additional 355,427 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Sun Communities by 16.1% in the fourth 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 purchasing an additional 108,054 shares in the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SUI. Truist Financial increased their target price on Sun Communities from $136.00 to $142.00 and gave the company a “buy” rating in a report on Monday, March 10th. Jefferies Financial Group reduced 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. Royal Bank of Canada restated an “outperform” rating on shares of Sun Communities in a report on Friday, February 28th. StockNews.com lowered Sun Communities from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Finally, Wells Fargo & Company reduced their target price on Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Sun Communities currently has a consensus rating of “Hold” and an average target price of $135.55.

Sun Communities Trading Up 1.9 %

Sun Communities stock opened at $128.06 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 has a market capitalization of $16.31 billion, a price-to-earnings ratio of 68.85 and a beta of 0.90. Sun Communities, Inc. has a one year low of $110.98 and a one year high of $147.83. The company’s fifty day moving average price is $127.27 and its two-hundred day moving average price is $129.54.

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

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.