GC Wealth Management RIA LLC increased its position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 105.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,112 shares of the real estate investment trust's stock after buying an additional 3,140 shares during the quarter. GC Wealth Management RIA LLC's holdings in Sun Communities were worth $752,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Legacy Trust acquired a new stake in shares of Sun Communities in the 4th quarter valued at approximately $625,000. Aurora Investment Managers LLC. lifted its holdings in shares of Sun Communities by 9.7% in the 4th quarter. Aurora Investment Managers LLC. now owns 27,490 shares of the real estate investment trust's stock valued at $3,380,000 after buying an additional 2,435 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Sun Communities by 16.1% in the 4th 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 buying an additional 108,054 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Sun Communities by 6.9% in the 3rd quarter. Victory Capital Management Inc. now owns 77,203 shares of the real estate investment trust's stock valued at $10,434,000 after buying an additional 5,008 shares during the period. Finally, VCI Wealth Management LLC acquired a new stake in shares of Sun Communities in the 4th quarter valued at approximately $1,312,000. 99.59% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on SUI shares. Wells Fargo & Company dropped their price objective on Sun Communities from $154.00 to $135.00 and set an "equal weight" rating for the company in a research note on Wednesday, December 11th. UBS Group downgraded Sun Communities from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $155.00 to $134.00 in a research note on Thursday, November 14th. StockNews.com downgraded Sun Communities from a "hold" rating to a "sell" rating in a research note on Wednesday, November 20th. Royal Bank of Canada reaffirmed an "outperform" rating on shares of Sun Communities in a research note on Friday, February 28th. Finally, Jefferies Financial Group dropped their price objective on Sun Communities from $145.00 to $142.00 and set a "buy" rating for the company in a research note on Thursday, January 2nd. Two 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. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $135.55.
View Our Latest Research Report on SUI
Sun Communities Trading Up 1.9 %
Shares of NYSE:SUI traded up $2.44 during midday trading on Friday, reaching $128.06. The company's stock had a trading volume of 860,190 shares, compared to its average volume of 789,284. Sun Communities, Inc. has a 1 year low of $110.98 and a 1 year high of $147.83. The firm has a market cap of $16.31 billion, a price-to-earnings ratio of 68.85 and a beta of 0.90. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. The business has a 50 day moving average price of $127.21 and a 200 day moving average price of $129.60.
Sun Communities (NYSE:SUI - Get Free Report) last issued its earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share for the quarter, beating analysts' consensus estimates 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. Research analysts forecast 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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