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Nisa Investment Advisors LLC Sells 3,430 Shares of Sun Communities, Inc. (NYSE:SUI)

Sun Communities logo with Finance background

Nisa Investment Advisors LLC lowered its holdings in Sun Communities, Inc. (NYSE:SUI - Free Report) by 9.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,309 shares of the real estate investment trust's stock after selling 3,430 shares during the period. Nisa Investment Advisors LLC's holdings in Sun Communities were worth $3,883,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Mercer Global Advisors Inc. ADV increased its stake in Sun Communities by 8.3% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 3,646 shares of the real estate investment trust's stock valued at $439,000 after buying an additional 279 shares during the period. Public Sector Pension Investment Board increased its holdings in shares of Sun Communities by 4.6% in the second quarter. Public Sector Pension Investment Board now owns 12,518 shares of the real estate investment trust's stock valued at $1,506,000 after buying an additional 547 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Sun Communities by 60.4% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 23,827 shares of the real estate investment trust's stock worth $2,867,000 after acquiring an additional 8,970 shares in the last quarter. Toronto Dominion Bank boosted its position in shares of Sun Communities by 0.8% in the 2nd quarter. Toronto Dominion Bank now owns 11,916 shares of the real estate investment trust's stock valued at $1,434,000 after purchasing an additional 98 shares during the period. Finally, APG Asset Management N.V. increased its position in shares of Sun Communities by 185.3% in the second quarter. APG Asset Management N.V. now owns 13,856 shares of the real estate investment trust's stock worth $1,556,000 after acquiring an additional 9,000 shares in the last quarter. Institutional investors own 99.59% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SUI shares. Bank of America downgraded shares of Sun Communities from a "neutral" rating to an "underperform" rating and dropped their price target for the stock from $147.00 to $114.00 in a research note on Tuesday, November 12th. Jefferies Financial Group decreased their price objective on shares of Sun Communities from $145.00 to $142.00 and set a "buy" rating for the company in a report on Thursday, January 2nd. Baird R W cut Sun Communities from a "strong-buy" rating to a "hold" rating in a research report on Thursday, November 7th. UBS Group lowered shares of Sun Communities from a "buy" rating to a "neutral" rating and lowered their target price for the company from $155.00 to $134.00 in a research note on Thursday, November 14th. Finally, Evercore ISI raised their target price on Sun Communities from $149.00 to $150.00 and gave the company an "in-line" rating in a report on Monday, October 21st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, Sun Communities currently has a consensus rating of "Hold" and an average price target of $135.69.

Read Our Latest Analysis on Sun Communities

Sun Communities Stock Performance

Sun Communities stock traded up $1.22 during trading hours on Friday, hitting $127.39. 522,808 shares of the stock traded hands, compared to its average volume of 716,582. The firm's 50 day moving average price is $124.52 and its 200-day moving average price is $129.48. The stock has a market capitalization of $16.23 billion, a price-to-earnings ratio of 68.49, a P/E/G ratio of 0.51 and a beta of 0.89. Sun Communities, Inc. has a 1 year low of $110.98 and a 1 year high of $147.83. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61.

Sun Communities (NYSE:SUI - Get Free Report) last issued its quarterly earnings results 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 during the quarter, compared to analysts' expectations of $980.41 million. During the same period in the prior year, the business posted $2.57 earnings per share. The company's quarterly revenue was down 4.4% compared to the same quarter last year. As a group, equities analysts expect that Sun Communities, Inc. will post 6.78 EPS for the current fiscal year.

Sun Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.94 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.95%. Sun Communities's payout ratio is currently 202.15%.

Sun Communities Profile

(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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Institutional Ownership by Quarter for Sun Communities (NYSE:SUI)

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