Victory Capital Management Inc. Sells 2,298 Shares of Sun Communities, Inc. (NYSE:SUI)

Victory Capital Management Inc. trimmed its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 3.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,905 shares of the real estate investment trust’s stock after selling 2,298 shares during the quarter. Victory Capital Management Inc. owned 0.06% of Sun Communities worth $9,211,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Sun Communities by 37.6% in 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 purchasing an additional 1,430,630 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Sun Communities by 1,061.4% in 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 purchasing an additional 1,209,522 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Sun Communities by 4.5% in 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 purchasing an additional 47,899 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of Sun Communities by 58.8% in the 3rd 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 during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Sun Communities by 16.1% in the 4th 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 during the last quarter. 99.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SUI. UBS Group lowered shares of Sun Communities from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $155.00 to $134.00 in a research note on Thursday, November 14th. Royal Bank of Canada reiterated an “outperform” rating on shares of Sun Communities in a research report on Friday, February 28th. Jefferies Financial Group dropped their target price on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Truist Financial boosted their target price on shares of Sun Communities from $136.00 to $142.00 and gave the company a “buy” rating in a research report on Monday. Finally, Wells Fargo & Company dropped their target price on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $135.55.

Sun Communities Stock Performance

Shares of SUI stock opened at $125.59 on Friday. The firm has a 50-day moving average of $127.21 and a 200-day moving average of $129.60. The company has a market cap of $16.00 billion, a P/E ratio of 67.52 and a beta of 0.90. 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 one year low of $110.98 and a one year high of $147.83.

Sun Communities (NYSE:SUI) last announced its earnings results 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. The company had revenue of $745.90 million during 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%. Equities research analysts forecast that Sun Communities, Inc. will post 6.77 EPS 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.