Sun Communities, Inc. (NYSE:SUI) Stake Trimmed by American Assets Capital Advisers LLC

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

A number of other institutional investors and hedge funds have also modified their holdings of SUI. FMR LLC lifted its holdings in shares of Sun Communities by 37.6% in the third 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 in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Sun Communities by 23.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 2,344,020 shares of the real estate investment trust's stock worth $288,244,000 after buying an additional 442,557 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Sun Communities by 1,061.4% during the third 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 valued at $178,868,000 after buying an additional 1,209,522 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Sun Communities by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,123,440 shares of the real estate investment trust's stock worth $138,149,000 after acquiring an additional 47,899 shares during the last quarter. Finally, Westfield Capital Management Co. LP grew its stake in 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 acquiring an additional 355,427 shares during the period. Institutional investors and hedge funds own 99.59% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company decreased their price objective on Sun Communities from $154.00 to $135.00 and set an "equal weight" rating on the stock in a report on Wednesday, December 11th. Truist Financial raised their target price 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. StockNews.com downgraded Sun Communities from a "hold" rating to a "sell" rating in a report on Wednesday, November 20th. Jefferies Financial Group cut their price objective on 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, Royal Bank of Canada reiterated an "outperform" rating on shares of Sun Communities in a research note on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $135.55.

Sun Communities Price Performance

NYSE SUI traded up $0.85 on Tuesday, reaching $132.89. 831,205 shares of the stock traded hands, compared to its average volume of 789,413. Sun Communities, Inc. has a 12 month low of $110.98 and a 12 month high of $147.83. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. The firm's fifty day simple moving average is $127.45 and its 200 day simple moving average is $129.52. The company has a market cap of $16.93 billion, a price-to-earnings ratio of 71.45 and a beta of 0.90.

Sun Communities (NYSE:SUI - Get Free Report) last released its earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.39 by $0.02. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The firm had revenue of $745.90 million for the quarter, compared to analyst estimates of $724.68 million. As a group, research analysts predict that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date is Monday, March 31st. Sun Communities's payout ratio is 508.11%.

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.