Smartleaf Asset Management LLC Acquires 124 Shares of Sun Communities, Inc. (NYSE:SUI)

Smartleaf Asset Management LLC raised its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 45.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 399 shares of the real estate investment trust’s stock after purchasing an additional 124 shares during the period. Smartleaf Asset Management LLC’s holdings in Sun Communities were worth $49,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Assetmark Inc. increased its position in shares of Sun Communities by 2,111.1% during the third quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 190 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Sun Communities during the third quarter valued at approximately $41,000. CKW Financial Group increased its position in shares of Sun Communities by 45.0% during the fourth quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 135 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Sun Communities during the third quarter valued at approximately $60,000. Finally, Farther Finance Advisors LLC increased its position in shares of Sun Communities by 89.1% during the third quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock valued at $68,000 after acquiring an additional 236 shares in the last quarter. Institutional investors own 99.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Bank of America cut shares of Sun Communities from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $147.00 to $114.00 in a report on Tuesday, November 12th. UBS Group cut shares of Sun Communities from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $155.00 to $134.00 in a research note on Thursday, November 14th. Truist Financial lifted their price target on shares of Sun Communities from $136.00 to $142.00 and gave the stock a “buy” rating in a research note on Monday. Royal Bank of Canada reiterated an “outperform” rating on shares of Sun Communities in a research note on Friday, February 28th. Finally, Jefferies Financial Group dropped their price target on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Sun Communities presently has an average rating of “Hold” and a consensus target price of $135.55.

Sun Communities Price Performance

Sun Communities stock opened at $131.50 on Tuesday. Sun Communities, Inc. has a 12-month low of $110.98 and a 12-month high of $147.83. The stock has a market cap of $16.75 billion, a P/E ratio of 70.70 and a beta of 0.90. The company has a 50-day moving average price of $126.90 and a 200 day moving average price of $129.66. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93.

Sun Communities (NYSE:SUI) last posted its quarterly earnings data 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. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The business had revenue of $745.90 million during the quarter, compared to analyst estimates of $724.68 million. Sell-side analysts anticipate that Sun Communities, Inc. will post 6.77 earnings per share for the current 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.