Baillie Gifford & Co. decreased its position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 43.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,182 shares of the real estate investment trust's stock after selling 31,965 shares during the quarter. Baillie Gifford & Co.'s holdings in Sun Communities were worth $5,064,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Assetmark Inc. raised its stake in 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 in the last quarter. Brooklyn Investment Group acquired a new position in Sun Communities during the third quarter worth about $41,000. CKW Financial Group raised its stake in 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 in the last quarter. Point72 Hong Kong Ltd acquired a new position in Sun Communities during the third quarter worth about $60,000. Finally, Farther Finance Advisors LLC raised its stake in Sun Communities by 89.1% during the third quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust's stock worth $68,000 after acquiring an additional 236 shares in the last quarter. Institutional investors own 99.59% of the company's stock.
Analyst Upgrades and Downgrades
SUI has been the subject of several research analyst reports. Bank of America downgraded Sun Communities from a "neutral" rating to an "underperform" rating and lowered their target price for the stock from $147.00 to $114.00 in a research note on Tuesday, November 12th. Truist Financial raised Sun Communities from a "hold" rating to a "buy" rating in a research note on Friday, January 17th. Baird R W downgraded Sun Communities from a "strong-buy" rating to a "hold" rating in a research note on Thursday, November 7th. UBS Group downgraded Sun Communities from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $155.00 to $134.00 in a research note on Thursday, November 14th. Finally, BMO Capital Markets lowered their price objective on Sun Communities from $145.00 to $138.00 and set an "outperform" rating for the company in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Sun Communities currently has a consensus rating of "Hold" and a consensus target price of $134.55.
Read Our Latest Report on Sun Communities
Sun Communities Trading Down 0.7 %
NYSE:SUI traded down $0.88 on Friday, reaching $125.84. 571,786 shares of the stock traded hands, compared to its average volume of 617,055. The firm has a market capitalization of $16.03 billion, a price-to-earnings ratio of 67.66 and a beta of 0.90. The company's 50 day moving average is $124.56 and its 200-day moving average is $129.46. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. Sun Communities, Inc. has a 1-year low of $110.98 and a 1-year high of $147.83.
Sun Communities Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date was Tuesday, December 31st. Sun Communities's dividend payout ratio is presently 202.15%.
Sun Communities Profile
(
Free Report)
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.
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