Atria Investments Inc Reduces Holdings in Sun Communities, Inc. (NYSE:SUI)

Atria Investments Inc cut its holdings 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 disclosure with the Securities and Exchange Commission (SEC). 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 reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Assetmark Inc. boosted its holdings in Sun Communities by 2,111.1% during the third quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust's stock worth $27,000 after purchasing an additional 190 shares during the last quarter. Brooklyn Investment Group purchased a new position in Sun Communities during the third quarter worth about $41,000. Smartleaf Asset Management LLC boosted its holdings in 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 worth $49,000 after purchasing an additional 124 shares during the last quarter. CKW Financial Group boosted its stake in Sun Communities by 45.0% in the fourth quarter. CKW Financial Group now owns 435 shares of the real estate investment trust's stock valued at $53,000 after acquiring an additional 135 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in Sun Communities in the third quarter valued at about $60,000. 99.59% of the stock is owned by institutional investors.

Sun Communities Trading Up 0.7 %

SUI traded up $0.91 during trading on Tuesday, hitting $132.95. 88,256 shares of the stock traded hands, compared to its average volume of 786,488. The firm has a market capitalization of $16.94 billion, a P/E ratio of 71.48 and a beta of 0.90. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. The firm has a 50-day moving average of $127.45 and a 200 day moving average of $129.52. Sun Communities, Inc. has a 12-month low of $110.98 and a 12-month high of $147.83.

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Sun Communities (NYSE:SUI - Get Free Report) last announced its quarterly earnings results 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. 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 anticipate that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.94 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.76 annualized dividend and a dividend yield of 2.83%. Sun Communities's dividend payout ratio is 508.11%.

Analyst Ratings Changes

A number of brokerages recently commented on SUI. StockNews.com cut shares of 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 report on Friday, February 28th. Wells Fargo & Company decreased their target price on shares of Sun Communities from $154.00 to $135.00 and set an "equal weight" rating on the stock in a report on Wednesday, December 11th. Truist Financial upped their target price 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, Jefferies Financial Group decreased their target price 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. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus 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.