American Assets Capital Advisers LLC Sells 6,639 Shares of Sun Communities, Inc. (NYSE:SUI)

American Assets Capital Advisers LLC reduced its stake in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 19.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,555 shares of the real estate investment trust's stock after selling 6,639 shares during the period. Sun Communities accounts for approximately 1.1% of American Assets Capital Advisers LLC's investment portfolio, making the stock its 23rd biggest position. American Assets Capital Advisers LLC's holdings in Sun Communities were worth $3,388,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Assetmark Inc. raised its position in shares of Sun Communities by 2,111.1% during the third quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust's stock worth $27,000 after acquiring an additional 190 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of Sun Communities in the 3rd quarter worth approximately $41,000. Smartleaf Asset Management LLC boosted its stake in shares of Sun Communities by 45.1% in 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 last quarter. CKW Financial Group increased its position in shares of Sun Communities by 45.0% during the fourth quarter. CKW Financial Group now owns 435 shares of the real estate investment trust's stock worth $53,000 after buying an additional 135 shares during the period. Finally, Point72 Hong Kong Ltd bought a new position in Sun Communities during the third quarter worth $60,000. 99.59% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

A number of brokerages have commented on SUI. StockNews.com cut shares of Sun Communities from a "hold" rating to a "sell" rating in a research report on Wednesday, November 20th. Royal Bank of Canada restated an "outperform" rating on shares of Sun Communities in a report on Friday, February 28th. Truist Financial lifted their price target on shares of Sun Communities from $136.00 to $142.00 and gave the company a "buy" rating in a research note on Monday, March 10th. Jefferies Financial Group cut their price objective on shares of Sun Communities from $145.00 to $142.00 and set a "buy" rating on the stock in a research report on Thursday, January 2nd. Finally, Wells Fargo & Company decreased their target price on 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. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $135.55.

Sun Communities Stock Performance

SUI traded up $3.65 during midday trading on Monday, reaching $131.79. The company had a trading volume of 969,900 shares, compared to its average volume of 785,398. Sun Communities, Inc. has a 12-month low of $110.98 and a 12-month high of $147.83. The business has a 50-day moving average price of $127.45 and a two-hundred day moving average price of $129.52. The stock has a market cap of $16.79 billion, a PE ratio of 70.85 and a beta of 0.90. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61.

Sun Communities (NYSE:SUI - Get Free Report) last posted its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $724.68 million. On average, sell-side analysts expect that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.85%. Sun Communities's dividend payout ratio is presently 508.11%.

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.