Charles Schwab Investment Management Inc. Raises Stock Position in Sun Communities, Inc. (NYSE:SUI)

Charles Schwab Investment Management Inc. boosted its position in Sun Communities, Inc. (NYSE:SUI - Free Report) by 4.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,123,440 shares of the real estate investment trust's stock after purchasing an additional 47,899 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.88% of Sun Communities worth $138,149,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Legacy Trust purchased a new position in Sun Communities during the 4th quarter valued at about $625,000. Aurora Investment Managers LLC. increased its stake in shares of Sun Communities by 9.7% during the fourth quarter. Aurora Investment Managers LLC. now owns 27,490 shares of the real estate investment trust's stock valued at $3,380,000 after purchasing an additional 2,435 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Sun Communities by 16.1% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 779,744 shares of the real estate investment trust's stock valued at $95,885,000 after purchasing an additional 108,054 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Sun Communities by 6.9% in the 3rd quarter. Victory Capital Management Inc. now owns 77,203 shares of the real estate investment trust's stock worth $10,434,000 after purchasing an additional 5,008 shares in the last quarter. Finally, VCI Wealth Management LLC purchased a new stake in shares of Sun Communities in the 4th quarter worth approximately $1,312,000. Hedge funds and other institutional investors own 99.59% of the company's stock.

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Sun Communities Stock Performance

Shares of NYSE SUI traded down $1.79 during trading on Tuesday, hitting $129.82. The company had a trading volume of 803,635 shares, compared to its average volume of 789,777. 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, Inc. has a 12 month low of $110.98 and a 12 month high of $147.83. The firm has a market capitalization of $16.54 billion, a P/E ratio of 69.80 and a beta of 0.90. The stock has a 50 day simple moving average of $126.90 and a 200 day simple moving average of $129.66.

Sun Communities (NYSE:SUI - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 EPS 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 net margin of 7.46% and a return on equity of 3.21%. As a group, analysts anticipate that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SUI shares. UBS Group cut 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. Wells Fargo & Company cut their price objective on shares of Sun Communities from $154.00 to $135.00 and set an "equal weight" rating on the stock in a research report on Wednesday, December 11th. Truist Financial raised their price objective on shares of Sun Communities from $136.00 to $142.00 and gave the company a "buy" rating in a research note on Monday. Jefferies Financial Group dropped their target price on shares of Sun Communities from $145.00 to $142.00 and set a "buy" rating on the stock in a research note on Thursday, January 2nd. Finally, Royal Bank of Canada reiterated an "outperform" rating on shares of Sun Communities in a report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $135.55.

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.