Nicola Wealth Management LTD. decreased its stake in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 91.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,684 shares of the real estate investment trust's stock after selling 97,500 shares during the quarter. Nicola Wealth Management LTD.'s holdings in Sun Communities were worth $1,068,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of SUI. FMR LLC grew its stake in shares of 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 acquiring an additional 1,430,630 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Sun Communities by 1,061.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,323,479 shares of the real estate investment trust's stock valued at $178,868,000 after acquiring an additional 1,209,522 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Sun Communities by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,123,440 shares of the real estate investment trust's stock valued at $138,149,000 after buying an additional 47,899 shares during the last quarter. Westfield Capital Management Co. LP boosted its position in shares of Sun Communities by 58.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 959,879 shares of the real estate investment trust's stock valued at $129,728,000 after acquiring an additional 355,427 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in 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. Institutional investors own 99.59% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on SUI. StockNews.com cut Sun Communities from a "hold" rating to a "sell" rating in a report on Wednesday, November 20th. BMO Capital Markets cut their price target on Sun Communities from $145.00 to $138.00 and set an "outperform" rating on the stock in a report on Thursday, November 7th. Bank of America downgraded shares of Sun Communities from a "neutral" rating to an "underperform" rating and lowered their target price for the company from $147.00 to $114.00 in a research note on Tuesday, November 12th. Robert W. Baird lowered Sun Communities from an "outperform" rating to a "neutral" rating and dropped their price target for the stock from $145.00 to $126.00 in a research note on Thursday, November 7th. Finally, UBS Group cut Sun Communities from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $155.00 to $134.00 in a research report on Thursday, November 14th. Two 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 company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $134.55.
View Our Latest Stock Analysis on Sun Communities
Sun Communities Stock Up 1.7 %
NYSE SUI traded up $2.24 during mid-day trading on Friday, reaching $133.60. 1,227,343 shares of the company's stock traded hands, compared to its average volume of 857,087. 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. The company has a fifty day simple moving average of $126.53 and a 200-day simple moving average of $129.69. The company has a market cap of $17.02 billion, a price-to-earnings ratio of 71.83 and a beta of 0.90.
Sun Communities (NYSE:SUI - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.02. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The firm had revenue of $745.90 million for the quarter, compared to analysts' expectations of $724.68 million. As a group, equities research analysts expect that Sun Communities, Inc. will post 6.77 EPS for the current year.
About Sun Communities
(
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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