Inspire Investing LLC Sells 1,256 Shares of Sun Communities, Inc. (NYSE:SUI)

Inspire Investing LLC cut its stake in Sun Communities, Inc. (NYSE:SUI) by 8.6% during the fourth quarter, HoldingsChannel reports. The firm owned 13,368 shares of the real estate investment trust’s stock after selling 1,256 shares during the period. Inspire Investing LLC’s holdings in Sun Communities were worth $1,644,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC increased its position in Sun Communities by 37.6% during 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Sun Communities by 1,061.4% during 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 worth $178,868,000 after buying an additional 1,209,522 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Sun Communities by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,075,541 shares of the real estate investment trust’s stock valued at $145,359,000 after buying an additional 3,254 shares during the last quarter. Westfield Capital Management Co. LP boosted its holdings in Sun Communities by 58.8% in the third quarter. Westfield Capital Management Co. LP now owns 959,879 shares of the real estate investment trust’s stock worth $129,728,000 after acquiring an additional 355,427 shares in the last quarter. Finally, Adelante Capital Management LLC raised its position in shares of Sun Communities by 168.7% in the 3rd quarter. Adelante Capital Management LLC now owns 559,129 shares of the real estate investment trust’s stock valued at $75,566,000 after purchasing an additional 351,017 shares during the last quarter. Institutional investors own 99.59% of the company’s stock.

Sun Communities Stock Performance

SUI opened at $125.13 on Thursday. The firm has a fifty day moving average price of $124.43 and a 200 day moving average price of $129.36. The stock has a market cap of $15.94 billion, a P/E ratio of 67.27, a P/E/G ratio of 0.52 and a beta of 0.89. Sun Communities, Inc. has a 1 year low of $110.98 and a 1 year high of $147.83. 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 (NYSE:SUI) last issued its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). The business had revenue of $939.90 million for the quarter, compared to analysts’ expectations of $980.41 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.57 EPS. Equities research analysts anticipate that Sun Communities, Inc. will post 6.78 earnings per share for the current year.

Sun Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend was Tuesday, December 31st. Sun Communities’s dividend payout ratio is presently 202.15%.

Analysts Set New Price Targets

A number of research analysts have issued reports on SUI shares. Wells Fargo & Company cut their price target on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th. Truist Financial raised Sun Communities from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Evercore ISI lifted their price target on Sun Communities from $149.00 to $150.00 and gave the stock an “in-line” rating in a research report on Monday, October 21st. Baird R W lowered Sun Communities from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, StockNews.com downgraded Sun Communities from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $135.69.

About Sun Communities

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.