Versor Investments LP Buys New Holdings in Sun Communities, Inc. (NYSE:SUI)

Versor Investments LP acquired a new stake in Sun Communities, Inc. (NYSE:SUI - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 3,400 shares of the real estate investment trust's stock, valued at approximately $418,000.

Other large investors have also made changes to their positions in the company. Legacy Trust bought a new stake in shares of Sun Communities in the 4th quarter valued at $625,000. Aurora Investment Managers LLC. increased its position in shares of Sun Communities by 9.7% in the 4th quarter. Aurora Investment Managers LLC. now owns 27,490 shares of the real estate investment trust's stock valued at $3,380,000 after buying an additional 2,435 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position 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 buying an additional 108,054 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Sun Communities by 6.9% in the 3rd quarter. Victory Capital Management Inc. now owns 77,203 shares of the real estate investment trust's stock valued at $10,434,000 after buying an additional 5,008 shares in the last quarter. Finally, VCI Wealth Management LLC bought a new stake in shares of Sun Communities in the 4th quarter valued at $1,312,000. Institutional investors own 99.59% of the company's stock.

Wall Street Analyst Weigh In

SUI has been the subject of a number of recent analyst reports. Bank of America cut shares of Sun Communities from a "neutral" rating to an "underperform" rating and lowered their price objective for the company from $147.00 to $114.00 in a research report on Tuesday, November 12th. Truist Financial upgraded Sun Communities from a "hold" rating to a "buy" rating in a report on Friday, January 17th. BMO Capital Markets lowered their target price on Sun Communities from $145.00 to $138.00 and set an "outperform" rating for the company in a report on Thursday, November 7th. UBS Group cut Sun Communities from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $155.00 to $134.00 in a report on Thursday, November 14th. Finally, Jefferies Financial Group lowered their target price on Sun Communities from $145.00 to $142.00 and set a "buy" rating for the company in a report on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Sun Communities has a consensus rating of "Hold" and an average target price of $134.55.

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Sun Communities Stock Down 2.4 %

Shares of Sun Communities stock traded down $3.15 during trading hours on Thursday, reaching $130.77. 296,049 shares of the company's stock were exchanged, compared to its average volume of 833,670. The company has a 50 day moving average of $126.39 and a two-hundred day moving average of $129.68. Sun Communities, Inc. has a fifty-two week low of $110.98 and a fifty-two week high of $147.83. 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 stock has a market cap of $16.66 billion, a P/E ratio of 70.27 and a beta of 0.90.

Sun Communities (NYSE:SUI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.02. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The company had revenue of $745.90 million during the quarter, compared to the consensus estimate of $724.68 million. On average, sell-side 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.