OFI Invest Asset Management Acquires Shares of 4,775 Sun Communities, Inc. (NYSE:SUI)

OFI Invest Asset Management purchased a new stake in Sun Communities, Inc. (NYSE:SUI - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 4,775 shares of the real estate investment trust's stock, valued at approximately $567,000.

A number of other institutional investors have also made changes to their positions in SUI. Farther Finance Advisors LLC increased its stake 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 valued at $68,000 after purchasing an additional 236 shares during the last quarter. Assetmark Inc. grew its position in shares of Sun Communities by 2,111.1% during the 3rd quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust's stock valued at $27,000 after buying an additional 190 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in Sun Communities by 173.7% during the third 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 period. Entropy Technologies LP lifted its holdings in 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 worth $1,714,000 after acquiring an additional 3,903 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Sun Communities by 6.9% in the third quarter. Victory Capital Management Inc. now owns 77,203 shares of the real estate investment trust's stock worth $10,434,000 after acquiring an additional 5,008 shares during the last quarter. 99.59% of the stock is currently owned by institutional investors.

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Sun Communities Price Performance

NYSE:SUI traded down $2.52 during midday trading on Thursday, hitting $125.59. 548,459 shares of the stock were exchanged, compared to its average volume of 788,376. The business has a 50-day moving average price of $127.14 and a two-hundred day moving average price of $129.63. 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 company has a market capitalization of $16.00 billion, a price-to-earnings ratio of 67.52 and a beta of 0.90. Sun Communities, Inc. has a one year low of $110.98 and a one year high of $147.83.

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 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 analyst estimates of $724.68 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. Sell-side analysts predict that Sun Communities, Inc. will post 6.77 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SUI shares. Royal Bank of Canada reiterated an "outperform" rating on shares of Sun Communities in a research report on Friday, February 28th. 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. Truist Financial boosted their price target on shares of Sun Communities from $136.00 to $142.00 and gave the company a "buy" rating in a report on Monday. Jefferies Financial Group dropped their price objective on shares of Sun Communities from $145.00 to $142.00 and set a "buy" rating on the stock in a report on Thursday, January 2nd. Finally, StockNews.com cut shares of Sun Communities from a "hold" rating to a "sell" rating in a research report on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target 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.