Barclays PLC Reduces Stock Holdings in Sun Communities, Inc. (NYSE:SUI)

Barclays PLC lowered its stake in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 19.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 127,286 shares of the real estate investment trust's stock after selling 30,447 shares during the quarter. Barclays PLC owned approximately 0.10% of Sun Communities worth $17,201,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of SUI. Y Intercept Hong Kong Ltd raised its stake in Sun Communities by 84.4% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 12,806 shares of the real estate investment trust's stock worth $1,731,000 after acquiring an additional 5,861 shares in the last quarter. Zimmer Partners LP purchased a new position in shares of Sun Communities during the third quarter worth about $5,068,000. Quadrature Capital Ltd acquired a new stake in shares of Sun Communities during the third quarter worth about $2,386,000. Quantinno Capital Management LP increased its position in shares of Sun Communities by 22.0% during the third quarter. Quantinno Capital Management LP now owns 7,695 shares of the real estate investment trust's stock worth $1,040,000 after purchasing an additional 1,390 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in shares of Sun Communities in the 3rd quarter valued at about $1,381,000. Hedge funds and other institutional investors own 99.59% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on SUI shares. StockNews.com lowered Sun Communities from a "hold" rating to a "sell" rating in a research report on Wednesday, November 20th. Robert W. Baird cut shares of Sun Communities from an "outperform" rating to a "neutral" rating and cut their target price for the company from $145.00 to $126.00 in a report on Thursday, November 7th. BMO Capital Markets reduced their price target on shares of Sun Communities from $145.00 to $138.00 and set an "outperform" rating for the company in a research report on Thursday, November 7th. Truist Financial dropped their price objective on shares of Sun Communities from $138.00 to $131.00 and set a "hold" rating on the stock in a research note on Wednesday. Finally, Evercore ISI increased their target price on shares of Sun Communities from $149.00 to $150.00 and gave the stock an "in-line" rating in a research note on Monday, October 21st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $137.08.

Sun Communities Price Performance

Shares of SUI traded down $1.00 during mid-day trading on Friday, hitting $122.20. The company's stock had a trading volume of 472,600 shares, compared to its average volume of 743,169. The firm has a 50-day simple moving average of $128.82 and a 200 day simple moving average of $128.29. Sun Communities, Inc. has a 1-year low of $110.98 and a 1-year high of $147.83. The firm has a market capitalization of $15.57 billion, a P/E ratio of 65.70, a P/E/G ratio of 0.51 and a beta of 0.88. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93.

Sun Communities (NYSE:SUI - Get Free Report) last released its earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 EPS for the quarter, missing analysts' consensus estimates of $2.51 by ($0.20). Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The business had revenue of $939.90 million during the quarter, compared to analyst estimates of $980.41 million. During the same period last year, the business posted $2.57 EPS. Sun Communities's revenue was down 4.4% compared to the same quarter last year. Analysts predict that Sun Communities, Inc. will post 6.78 EPS for the current fiscal year.

Sun Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.94 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $3.76 dividend on an annualized basis and a yield of 3.08%. Sun Communities's dividend payout ratio (DPR) is presently 202.15%.

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.