Sun Communities, Inc. (NYSE:SUI) Stock Holdings Reduced by Capital Square LLC

Capital Square LLC decreased its position in Sun Communities, Inc. (NYSE:SUI) by 4.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 15,112 shares of the real estate investment trust’s stock after selling 781 shares during the quarter. Sun Communities accounts for about 1.2% of Capital Square LLC’s investment portfolio, making the stock its 17th biggest holding. Capital Square LLC’s holdings in Sun Communities were worth $2,043,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Victory Capital Management Inc. boosted its stake in shares of Sun Communities by 6.9% during the 3rd quarter. Victory Capital Management Inc. now owns 77,203 shares of the real estate investment trust’s stock worth $10,434,000 after acquiring an additional 5,008 shares in the last quarter. KBC Group NV boosted its position in Sun Communities by 303.3% during the third quarter. KBC Group NV now owns 109,939 shares of the real estate investment trust’s stock worth $14,858,000 after purchasing an additional 82,682 shares during the period. Manning & Napier Advisors LLC bought a new stake in shares of Sun Communities during the 2nd quarter worth $13,164,000. AMG National Trust Bank bought a new stake in shares of Sun Communities during the 3rd quarter worth $1,690,000. Finally, Virtu Financial LLC bought a new stake in shares of Sun Communities during the 1st quarter worth $1,106,000. 99.59% of the stock is owned by institutional investors.

Sun Communities Price Performance

Sun Communities stock traded up $1.78 during trading hours on Monday, hitting $129.24. 16,418 shares of the stock were exchanged, compared to its average volume of 826,258. Sun Communities, Inc. has a 12 month low of $110.98 and a 12 month high of $147.83. The business’s 50-day moving average is $132.51 and its two-hundred day moving average is $127.57. 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 stock has a market capitalization of $16.46 billion, a P/E ratio of 68.53, a P/E/G ratio of 0.54 and a beta of 0.91.

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

Sun Communities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend was Monday, September 30th. Sun Communities’s dividend payout ratio is presently 202.15%.

Analyst Ratings Changes

SUI has been the subject of a number of recent analyst reports. Evercore ISI upped their price target on shares of Sun Communities from $149.00 to $150.00 and gave the company an “in-line” rating in a report on Monday, October 21st. Truist Financial increased their target price on Sun Communities from $127.00 to $138.00 and gave the company a “hold” rating in a research note on Tuesday, August 13th. Robert W. Baird cut Sun Communities from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $145.00 to $126.00 in a research report on Thursday, November 7th. Baird R W downgraded shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company increased their target price on shares of Sun Communities from $123.00 to $154.00 and gave the company an “equal weight” rating in a research note on Thursday, September 19th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $139.08.

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.