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

Atria Investments Inc lessened its holdings in 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 & 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 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. FMR LLC increased its stake in shares of Sun Communities by 37.6% in the 3rd quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust's stock valued at $707,329,000 after purchasing an additional 1,430,630 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in 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 buying an additional 1,209,522 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Sun Communities by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,123,440 shares of the real estate investment trust's stock worth $138,149,000 after buying an additional 47,899 shares in the last quarter. Westfield Capital Management Co. LP increased its stake in Sun Communities by 58.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 959,879 shares of the real estate investment trust's stock worth $129,728,000 after buying an additional 355,427 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in Sun Communities by 16.1% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 779,744 shares of the real estate investment trust's stock worth $95,885,000 after buying an additional 108,054 shares in the last quarter. Hedge funds and other institutional investors own 99.59% of the company's stock.

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Sun Communities Trading Up 0.6 %

SUI traded up $0.85 during trading hours on Tuesday, reaching $132.89. The company's stock had a trading volume of 831,297 shares, compared to its average volume of 790,745. Sun Communities, Inc. has a fifty-two week low of $110.98 and a fifty-two week high of $147.83. The stock has a market cap of $16.93 billion, a PE ratio of 71.45 and a beta of 0.90. The business's 50-day moving average is $127.67 and its 200-day moving average is $129.50. 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 released its quarterly earnings data 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 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. As a group, equities research analysts predict that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date is Monday, March 31st. Sun Communities's dividend payout ratio (DPR) is 508.11%.

Analysts Set New Price Targets

Several research firms have commented on SUI. StockNews.com lowered Sun Communities from a "hold" rating to a "sell" rating in a research note on Wednesday, November 20th. Truist Financial boosted their price objective on Sun Communities from $136.00 to $142.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. Royal Bank of Canada reiterated an "outperform" rating on shares of Sun Communities in a research note on Friday, February 28th. Wells Fargo & Company dropped their price target 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. Finally, Jefferies Financial Group dropped their price target on Sun Communities from $145.00 to $142.00 and set a "buy" rating for the company in a research report on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target 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.