Andra AP fonden Cuts Stock Position in Sun Communities, Inc. (NYSE:SUI)

Andra AP fonden reduced its position in Sun Communities, Inc. (NYSE:SUI - Free Report) by 94.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,181 shares of the real estate investment trust's stock after selling 40,219 shares during the quarter. Andra AP fonden's holdings in Sun Communities were worth $268,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Assetmark Inc. grew its holdings in shares of Sun Communities by 2,111.1% in the third quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 190 shares in the last quarter. Brooklyn Investment Group purchased a new position in Sun Communities in the 3rd quarter valued at approximately $41,000. Smartleaf Asset Management LLC grew its stake in shares of Sun Communities by 45.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust's stock worth $49,000 after acquiring an additional 124 shares in 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 acquiring an additional 135 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Sun Communities in the third quarter valued at $60,000. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. UBS Group downgraded Sun Communities from a "buy" rating to a "neutral" rating and cut their price target for the stock from $155.00 to $134.00 in a report on Thursday, November 14th. Wells Fargo & Company cut their target price 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 lifted their price target on shares of Sun Communities from $136.00 to $142.00 and gave the stock a "buy" rating in a research note on Monday. Jefferies Financial Group lowered their price target on shares of Sun Communities from $145.00 to $142.00 and set a "buy" rating for the company in a report on Thursday, January 2nd. Finally, Royal Bank of Canada restated an "outperform" rating on shares of Sun Communities in a report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $135.55.

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Sun Communities Stock Performance

SUI traded down $2.52 on Thursday, reaching $125.59. The company had a trading volume of 548,459 shares, compared to its average volume of 788,376. The stock has a 50-day moving average price of $127.14 and a 200-day moving average price of $129.63. The stock has a market capitalization of $16.00 billion, a PE ratio of 67.52 and a beta of 0.90. Sun Communities, Inc. has a 1 year low of $110.98 and a 1 year 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.

Sun Communities (NYSE:SUI - Get Free Report) last posted its earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.02. The business had revenue of $745.90 million during the quarter, compared to the consensus estimate of $724.68 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. As a group, research 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.