Mutual of America Capital Management LLC Has $2.39 Million Stake in Sun Communities, Inc. (NYSE:SUI)

Mutual of America Capital Management LLC lifted its stake in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 58.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,679 shares of the real estate investment trust's stock after purchasing an additional 6,506 shares during the period. Mutual of America Capital Management LLC's holdings in Sun Communities were worth $2,389,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake in Sun Communities by 50.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,302,804 shares of the real estate investment trust's stock valued at $424,677,000 after purchasing an additional 1,105,306 shares during the period. PGGM Investments lifted its stake in Sun Communities by 159.9% in the 2nd quarter. PGGM Investments now owns 1,246,739 shares of the real estate investment trust's stock worth $150,033,000 after acquiring an additional 767,126 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in 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. Hsbc Holdings PLC grew its stake in Sun Communities by 199.1% during the 2nd quarter. Hsbc Holdings PLC now owns 358,284 shares of the real estate investment trust's stock valued at $42,754,000 after acquiring an additional 238,498 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings 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 valued at $354,986,000 after purchasing an additional 111,569 shares during the period. 99.59% of the stock is owned by hedge funds and other institutional investors.

Sun Communities Trading Down 0.8 %

NYSE:SUI opened at $127.46 on Friday. The company's 50 day moving average is $132.51 and its 200-day moving average is $127.49. 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, Inc. has a 12 month low of $110.98 and a 12 month high of $147.83. The firm has a market cap of $16.24 billion, a price-to-earnings ratio of 68.53, a P/E/G ratio of 0.54 and a beta of 0.91.

Sun Communities (NYSE:SUI - Get Free Report) last announced its earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.20). Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The firm had revenue of $939.90 million during the quarter, compared to the consensus estimate of $980.41 million. During the same quarter last year, the business earned $2.57 EPS. The business's revenue was down 4.4% compared to the same quarter last year. Equities analysts anticipate that Sun Communities, Inc. will post 6.78 EPS for the current year.

Sun Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.94 per share. The ex-dividend date was Monday, September 30th. This represents a $3.76 annualized dividend and a yield of 2.95%. Sun Communities's payout ratio is 202.15%.

Wall Street Analyst Weigh In

Several analysts recently commented on SUI shares. Robert W. Baird lowered shares of Sun Communities from an "outperform" rating to a "neutral" rating and decreased their target price for the company from $145.00 to $126.00 in a research note on Thursday, November 7th. Wells Fargo & Company lifted their price objective on Sun Communities from $123.00 to $154.00 and gave the company an "equal weight" rating in a research report on Thursday, September 19th. UBS Group lowered Sun Communities from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $155.00 to $134.00 in a research report on Thursday, November 14th. Royal Bank of Canada reduced their price target on Sun Communities from $147.00 to $135.00 and set an "outperform" rating for the company in a report on Thursday, November 7th. Finally, BMO Capital Markets dropped their price objective on Sun Communities from $145.00 to $138.00 and set an "outperform" rating on the stock in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, eight have given 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 target price of $139.08.

About Sun Communities

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.