GSA Capital Partners LLP Has $277,000 Stake in Sun Communities, Inc. (NYSE:SUI)

GSA Capital Partners LLP reduced its stake in Sun Communities, Inc. (NYSE:SUI) by 59.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,050 shares of the real estate investment trust’s stock after selling 2,957 shares during the period. GSA Capital Partners LLP’s holdings in Sun Communities were worth $277,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in SUI. Assetmark Inc. raised its holdings in shares of Sun Communities by 2,111.1% during the 3rd quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 190 shares in the last quarter. Quest Partners LLC raised its stake in Sun Communities by 12,700.0% during the second quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 381 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new position in Sun Communities during the second quarter worth about $62,000. Farther Finance Advisors LLC lifted its holdings in shares of Sun Communities by 89.1% in the third 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 last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Sun Communities by 230.7% in the 3rd quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock valued at $84,000 after purchasing an additional 436 shares in the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Stock Performance

NYSE SUI opened at $127.46 on Friday. The company has a fifty day moving average price of $132.51 and a 200-day moving average price of $127.49. The firm has a market cap of $16.24 billion, a price-to-earnings ratio of 68.53, a PEG ratio of 0.54 and a beta of 0.91. 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, Inc. has a 1 year low of $110.98 and a 1 year high of $147.83.

Sun Communities (NYSE:SUI) last posted its earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.20). The firm had revenue of $939.90 million for the quarter, compared to the consensus estimate of $980.41 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. Sun Communities’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.57 EPS. As a group, equities research analysts predict that Sun Communities, Inc. will post 6.78 EPS for the current fiscal year.

Sun Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend was Monday, September 30th. Sun Communities’s payout ratio is 202.15%.

Wall Street Analyst Weigh In

SUI has been the topic of a number of research reports. Wells Fargo & Company boosted their target price on shares of Sun Communities from $123.00 to $154.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 19th. Truist Financial upped their target price on Sun Communities from $127.00 to $138.00 and gave the stock a “hold” rating in a report on Tuesday, August 13th. Jefferies Financial Group began coverage on Sun Communities in a research note on Thursday, October 17th. They set a “buy” rating and a $160.00 price target on the stock. BMO Capital Markets lowered their price objective on Sun Communities from $145.00 to $138.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Finally, UBS Group lowered shares of Sun Communities from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $155.00 to $134.00 in a report on Thursday, November 14th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $139.08.

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.