US Bancorp DE Lowers Stock Position in Sun Communities, Inc. (NYSE:SUI)

US Bancorp DE decreased its position in shares of Sun Communities, Inc. (NYSE:SUI) by 2.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,931 shares of the real estate investment trust’s stock after selling 144 shares during the quarter. US Bancorp DE’s holdings in Sun Communities were worth $852,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Assetmark Inc. boosted its stake 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 acquiring an additional 190 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Sun Communities during the 3rd quarter worth approximately $41,000. CKW Financial Group boosted 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 worth $53,000 after acquiring an additional 135 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Sun Communities during the 3rd quarter worth approximately $60,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SUI shares. Royal Bank of Canada reissued an “outperform” rating on shares of Sun Communities in a research note on Friday, February 28th. Wells Fargo & Company cut their price objective 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. Bank of America downgraded Sun Communities from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $147.00 to $114.00 in a research report on Tuesday, November 12th. Jefferies Financial Group cut their price objective 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 downgraded Sun Communities from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Two equities research 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 data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $135.55.

Sun Communities Trading Down 1.6 %

Shares of SUI opened at $131.50 on Tuesday. The stock has a fifty day moving average of $126.90 and a two-hundred day moving average of $129.66. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. The company has a market capitalization of $16.75 billion, a PE ratio of 70.70 and a beta of 0.90. Sun Communities, Inc. has a fifty-two week low of $110.98 and a fifty-two week high of $147.83.

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 for the quarter, beating the consensus estimate of $1.39 by $0.02. The company had revenue of $745.90 million during the quarter, compared to the consensus estimate of $724.68 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. As a group, analysts forecast that Sun Communities, Inc. will post 6.77 EPS for the current year.

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.