BNP Paribas Financial Markets Purchases 36,828 Shares of Sun Communities, Inc. (NYSE:SUI)

BNP Paribas Financial Markets raised its holdings in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 53.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,103 shares of the real estate investment trust's stock after purchasing an additional 36,828 shares during the period. BNP Paribas Financial Markets owned 0.08% of Sun Communities worth $14,340,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. FMR LLC raised its stake in 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 worth $707,329,000 after buying an additional 1,430,630 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Sun Communities by 3.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,949,862 shares of the real estate investment trust's stock worth $354,986,000 after acquiring an additional 111,569 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Sun Communities by 24.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 2,195,884 shares of the real estate investment trust's stock worth $264,253,000 after acquiring an additional 424,842 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Sun Communities by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,784,547 shares of the real estate investment trust's stock valued at $214,752,000 after purchasing an additional 10,592 shares during the period. Finally, PGGM Investments boosted its position in shares of Sun Communities by 159.9% during the second quarter. PGGM Investments now owns 1,246,739 shares of the real estate investment trust's stock valued at $150,033,000 after purchasing an additional 767,126 shares in the last quarter. Hedge funds and other institutional investors own 99.59% of the company's stock.

Analyst Ratings Changes

SUI has been the subject of a number of research reports. Robert W. Baird downgraded Sun Communities from an "outperform" rating to a "neutral" rating and decreased their price objective for the stock from $145.00 to $126.00 in a report on Thursday, November 7th. BMO Capital Markets reduced their target price on shares of Sun Communities from $145.00 to $138.00 and set an "outperform" rating on the stock in a research report on Thursday, November 7th. Bank of America cut shares of Sun Communities from a "neutral" rating to an "underperform" rating and lowered their price target for the company from $147.00 to $114.00 in a research report on Tuesday, November 12th. UBS Group cut shares of Sun Communities from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $155.00 to $134.00 in a report on Thursday, November 14th. Finally, Jefferies Financial Group began coverage on shares of Sun Communities in a research note on Thursday, October 17th. They set a "buy" rating and a $160.00 target price for the company. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Sun Communities presently has a consensus rating of "Hold" and a consensus price target of $139.08.

Sun Communities Stock Up 0.5 %

Shares of SUI stock traded up $0.67 during mid-day trading on Monday, hitting $127.00. The company's stock had a trading volume of 816,117 shares, compared to its average volume of 828,324. Sun Communities, Inc. has a 52-week low of $110.98 and a 52-week high of $147.83. The business has a 50-day moving average price of $130.92 and a 200 day moving average price of $127.93. The stock has a market cap of $16.18 billion, a price-to-earnings ratio of 67.92, a PEG ratio of 0.53 and a beta of 0.91. 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 issued its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share for the quarter, missing analysts' consensus estimates of $2.51 by ($0.20). Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The company had revenue of $939.90 million for the quarter, compared to the consensus estimate of $980.41 million. During the same quarter last year, the company earned $2.57 EPS. The firm's revenue for the quarter was down 4.4% on a year-over-year basis. Research analysts predict that Sun Communities, Inc. will post 6.78 EPS for the current fiscal year.

Sun Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 2.96%. Sun Communities's payout ratio is currently 202.15%.

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.