Sun Communities, Inc. (NYSE:SUI) Shares Sold by Atria Investments Inc

Atria Investments Inc reduced its position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 39.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,107 shares of the real estate investment trust's stock after selling 2,710 shares during the period. Atria Investments Inc's holdings in Sun Communities were worth $505,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. FMR LLC boosted its position in Sun Communities by 37.6% during 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 last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Sun Communities by 1,061.4% during 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 worth $178,868,000 after purchasing an additional 1,209,522 shares during the last quarter. Westfield Capital Management Co. LP grew its position in shares of Sun Communities by 58.8% in the third 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 purchasing an additional 355,427 shares in the last quarter. Adelante Capital Management LLC increased its holdings in shares of Sun Communities by 168.7% in the third quarter. Adelante Capital Management LLC now owns 559,129 shares of the real estate investment trust's stock valued at $75,566,000 after purchasing an additional 351,017 shares during the last quarter. Finally, abrdn plc lifted its position in Sun Communities by 343.5% during the fourth quarter. abrdn plc now owns 277,988 shares of the real estate investment trust's stock worth $34,098,000 after buying an additional 215,314 shares in the last quarter. Institutional investors and hedge funds own 99.59% of the company's stock.

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Sun Communities Stock Down 0.9 %

Shares of SUI traded down $1.19 during midday trading on Wednesday, reaching $131.65. The stock had a trading volume of 562,273 shares, compared to its average volume of 791,016. The company's fifty day simple moving average is $127.67 and its two-hundred day simple moving average is $129.50. The company has a market cap of $16.77 billion, a price-to-earnings ratio of 70.78 and a beta of 0.90. 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 announced its earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 EPS for the quarter, beating 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 business had revenue of $745.90 million during the quarter, compared to analysts' expectations of $724.68 million. Equities research analysts expect that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

Sun Communities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.94 per share. The ex-dividend date is Monday, March 31st. This represents a $3.76 dividend on an annualized basis and a yield of 2.86%. Sun Communities's payout ratio is 508.11%.

Wall Street Analyst Weigh In

SUI has been the subject of a number of recent analyst reports. Jefferies Financial Group cut their price target 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. Wells Fargo & Company cut their price objective on Sun Communities from $154.00 to $135.00 and set an "equal weight" rating for the company in a research report on Wednesday, December 11th. Royal Bank of Canada reaffirmed an "outperform" rating on shares of Sun Communities in a research report on Friday, February 28th. Truist Financial upped their price objective on shares of Sun Communities from $136.00 to $142.00 and gave the stock a "buy" rating in a report on Monday, March 10th. Finally, StockNews.com lowered Sun Communities from a "hold" rating to a "sell" rating in a research report on Wednesday, November 20th. Two 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. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $135.55.

About Sun Communities

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.