Proficio Capital Partners LLC Takes $5.91 Million Position in Sun Communities, Inc. (NYSE:SUI)

Proficio Capital Partners LLC acquired a new stake in Sun Communities, Inc. (NYSE:SUI) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 48,081 shares of the real estate investment trust’s stock, valued at approximately $5,913,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in Sun Communities by 4.5% during 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 period. Jones Financial Companies Lllp increased its position in Sun Communities by 51.9% during the 4th quarter. Jones Financial Companies Lllp now owns 1,841 shares of the real estate investment trust’s stock valued at $226,000 after purchasing an additional 629 shares during the period. Smartleaf Asset Management LLC increased its position in Sun Communities by 45.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 124 shares during the period. Levin Capital Strategies L.P. acquired a new stake in Sun Communities during the 4th quarter valued at approximately $615,000. Finally, Metis Global Partners LLC increased its position in Sun Communities by 10.9% during the 4th quarter. Metis Global Partners LLC now owns 15,124 shares of the real estate investment trust’s stock valued at $1,860,000 after purchasing an additional 1,484 shares during the period. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Trading Up 1.9 %

SUI opened at $128.06 on Monday. The business has a 50 day simple moving average of $127.27 and a two-hundred day simple moving average of $129.52. The firm has a market capitalization of $16.31 billion, a price-to-earnings ratio of 68.85 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 released its quarterly earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 EPS 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. Analysts predict that Sun Communities, Inc. will post 6.77 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. StockNews.com downgraded shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Sun Communities in a research report on Friday, February 28th. Jefferies Financial Group reduced their price objective 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. Wells Fargo & Company reduced their price objective on shares of 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. Finally, Truist Financial raised 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. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $135.55.

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.