Sun Communities, Inc. (NYSE:SUI) Shares Sold by Anchor Capital Advisors LLC

Anchor Capital Advisors LLC lessened its stake in Sun Communities, Inc. (NYSE:SUI) by 6.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 411,226 shares of the real estate investment trust’s stock after selling 26,755 shares during the quarter. Sun Communities accounts for 1.4% of Anchor Capital Advisors LLC’s investment portfolio, making the stock its 16th largest position. Anchor Capital Advisors LLC owned approximately 0.32% of Sun Communities worth $50,568,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. FMR LLC boosted its position in Sun Communities by 37.6% during the third quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust’s stock worth $707,329,000 after purchasing an additional 1,430,630 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of 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. Westfield Capital Management Co. LP boosted its position 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 worth $129,728,000 after buying an additional 355,427 shares in the last quarter. Adelante Capital Management LLC grew its stake in 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 acquiring an additional 351,017 shares during the last quarter. Finally, abrdn plc increased its holdings in Sun Communities by 343.5% during the 4th quarter. abrdn plc now owns 277,988 shares of the real estate investment trust’s stock valued at $34,098,000 after acquiring an additional 215,314 shares in the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Stock Down 0.6 %

Shares of NYSE:SUI opened at $133.19 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. The firm has a market cap of $16.97 billion, a price-to-earnings ratio of 71.61 and a beta of 0.90. The stock’s 50-day moving average price is $125.56 and its two-hundred day moving average price is $129.58. Sun Communities, Inc. has a 12-month low of $110.98 and a 12-month high of $147.83.

Sun Communities (NYSE:SUI) last announced its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $724.68 million. On average, research analysts forecast that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.94 per share. The ex-dividend date was Tuesday, December 31st. This represents a $3.76 annualized dividend and a dividend yield of 2.82%. Sun Communities’s dividend payout ratio is presently 202.15%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SUI shares. Wells Fargo & Company lowered 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 report on Wednesday, December 11th. Truist Financial raised Sun Communities from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Royal Bank of Canada dropped their price target on Sun Communities from $147.00 to $135.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. UBS Group downgraded 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 report on Thursday, November 14th. Finally, Bank of America cut Sun Communities from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $147.00 to $114.00 in a research report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $134.55.

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.