Sun Communities, Inc. (NYSE:SUI) Shares Bought by Wealthfront Advisers LLC

Wealthfront Advisers LLC raised its stake in Sun Communities, Inc. (NYSE:SUI - Free Report) by 712.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 72,254 shares of the real estate investment trust's stock after acquiring an additional 63,366 shares during the period. Wealthfront Advisers LLC owned 0.06% of Sun Communities worth $8,885,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Sun Communities by 8.5% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,069 shares of the real estate investment trust's stock valued at $131,000 after buying an additional 84 shares during the last quarter. Cascade Investment Advisors Inc. raised its holdings in shares of Sun Communities by 0.8% during the fourth quarter. Cascade Investment Advisors Inc. now owns 10,373 shares of the real estate investment trust's stock valued at $1,276,000 after buying an additional 85 shares during the last quarter. Cetera Trust Company N.A raised its holdings in shares of Sun Communities by 6.0% during the fourth quarter. Cetera Trust Company N.A now owns 1,865 shares of the real estate investment trust's stock valued at $229,000 after buying an additional 105 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Sun Communities by 45.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust's stock valued at $49,000 after buying an additional 124 shares during the last quarter. Finally, Avior Wealth Management LLC raised its holdings in shares of Sun Communities by 3.0% during the third quarter. Avior Wealth Management LLC now owns 4,328 shares of the real estate investment trust's stock valued at $585,000 after buying an additional 125 shares during the last quarter. Institutional investors own 99.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company cut their price target on Sun Communities from $154.00 to $135.00 and set an "equal weight" rating on the stock in a report on Wednesday, December 11th. Royal Bank of Canada restated an "outperform" rating on shares of Sun Communities in a research report on Friday, February 28th. UBS Group lowered shares of Sun Communities from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $155.00 to $134.00 in a research report on Thursday, November 14th. Truist Financial lifted their price target on shares of Sun Communities from $136.00 to $142.00 and gave the stock a "buy" rating in a research report on Monday. Finally, StockNews.com downgraded shares of Sun Communities from a "hold" rating to a "sell" rating in a research note on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $135.55.

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Sun Communities Trading Down 1.2 %

NYSE SUI opened at $128.21 on Thursday. Sun Communities, Inc. has a 1-year low of $110.98 and a 1-year 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 company has a market capitalization of $16.33 billion, a PE ratio of 68.93 and a beta of 0.90. The firm's fifty day simple moving average is $127.14 and its 200-day simple moving average is $129.63.

Sun Communities (NYSE:SUI - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.39 by $0.02. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The firm had revenue of $745.90 million during the quarter, compared to analysts' expectations of $724.68 million. As a group, sell-side analysts anticipate that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities 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.

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