Commonwealth Equity Services LLC Sells 166 Shares of Sun Communities, Inc. (NYSE:SUI)

Commonwealth Equity Services LLC decreased its position in Sun Communities, Inc. (NYSE:SUI) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,006 shares of the real estate investment trust’s stock after selling 166 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Sun Communities were worth $985,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SUI. Legacy Trust bought a new stake in Sun Communities in the 4th quarter worth about $625,000. Aurora Investment Managers LLC. grew its holdings in shares of Sun Communities by 9.7% in the fourth 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. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Sun Communities by 16.1% during 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 acquiring an additional 108,054 shares during the last quarter. VCI Wealth Management LLC bought a new stake in Sun Communities during the fourth quarter worth $1,312,000. Finally, Vert Asset Management LLC boosted its position in Sun Communities by 9.9% in the fourth quarter. Vert Asset Management LLC now owns 56,083 shares of the real estate investment trust’s stock worth $6,897,000 after purchasing an additional 5,060 shares during the last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company decreased their target price on Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. Truist Financial lifted their price objective on shares of Sun Communities from $136.00 to $142.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Jefferies Financial Group reduced their target price on shares of 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, Royal Bank of Canada reaffirmed an “outperform” rating on shares of Sun Communities in a report on Friday, February 28th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $136.60.

Sun Communities Price Performance

Shares of NYSE SUI opened at $128.61 on Wednesday. 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, Inc. has a fifty-two week low of $110.98 and a fifty-two week high of $147.83. The stock has a market cap of $16.41 billion, a PE ratio of 69.15 and a beta of 0.90. The stock has a fifty day moving average of $128.94 and a 200-day moving average of $128.77.

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

Sun Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.92%. The ex-dividend date is Monday, March 31st. Sun Communities’s dividend payout ratio is presently 508.11%.

Sun Communities Company 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.