Freestone Capital Holdings LLC Has $2.43 Million Position in Sun Communities, Inc. (NYSE:SUI)

Freestone Capital Holdings LLC grew its stake in Sun Communities, Inc. (NYSE:SUI - Free Report) by 25.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,778 shares of the real estate investment trust's stock after acquiring an additional 3,969 shares during the quarter. Freestone Capital Holdings LLC's holdings in Sun Communities were worth $2,432,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC lifted its holdings 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. Van ECK Associates Corp raised its holdings in shares of Sun Communities by 10.8% during the third quarter. Van ECK Associates Corp now owns 56,904 shares of the real estate investment trust's stock worth $7,913,000 after acquiring an additional 5,547 shares during the period. Assetmark Inc. boosted its position in shares of 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 buying an additional 190 shares during the period. Los Angeles Capital Management LLC boosted its position in Sun Communities by 173.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 150,174 shares of the real estate investment trust's stock worth $20,296,000 after acquiring an additional 95,303 shares during the last quarter. Finally, Entropy Technologies LP raised its holdings in shares of Sun Communities by 44.4% in the third quarter. Entropy Technologies LP now owns 12,685 shares of the real estate investment trust's stock valued at $1,714,000 after purchasing an additional 3,903 shares during the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

SUI has been the subject of a number of analyst reports. Jefferies Financial Group decreased their target price on shares of Sun Communities from $145.00 to $142.00 and set a "buy" rating for the company in a research report on Thursday, January 2nd. Royal Bank of Canada reissued an "outperform" rating on shares of Sun Communities in a research report on Friday, February 28th. Wells Fargo & Company dropped their price objective on 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. UBS Group cut shares of Sun Communities from a "buy" rating to a "neutral" rating and dropped their target price for the company from $155.00 to $134.00 in a report on Thursday, November 14th. Finally, StockNews.com downgraded Sun Communities from a "hold" rating to a "sell" rating in a report on Wednesday, November 20th. Two equities research 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 MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $135.55.

Sun Communities Stock Performance

NYSE SUI traded down $2.13 during trading on Monday, reaching $131.50. The company's stock had a trading volume of 921,062 shares, compared to its average volume of 789,758. The firm has a market capitalization of $16.75 billion, a price-to-earnings ratio of 70.70 and a beta of 0.90. Sun Communities, Inc. has a 12 month low of $110.98 and a 12 month high of $147.83. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. The firm has a 50 day moving average price of $126.73 and a 200 day moving average price of $129.67.

Sun Communities (NYSE:SUI - Get Free Report) last issued its earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.02. The firm had revenue of $745.90 million for 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, equities analysts anticipate that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

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.