Centersquare Investment Management LLC Sells 508,140 Shares of Sun Communities, Inc. (NYSE:SUI)

Centersquare Investment Management LLC trimmed its position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 24.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,550,228 shares of the real estate investment trust's stock after selling 508,140 shares during the quarter. Sun Communities makes up about 2.0% of Centersquare Investment Management LLC's investment portfolio, making the stock its 19th largest holding. Centersquare Investment Management LLC owned approximately 1.22% of Sun Communities worth $190,632,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SUI. Smartleaf Asset Management LLC lifted its stake in Sun Communities by 45.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust's stock valued at $49,000 after acquiring an additional 124 shares during the last quarter. CKW Financial Group lifted its stake in shares of Sun Communities by 45.0% in the 4th quarter. CKW Financial Group now owns 435 shares of the real estate investment trust's stock valued at $53,000 after purchasing an additional 135 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Sun Communities by 8.5% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,069 shares of the real estate investment trust's stock worth $131,000 after purchasing an additional 84 shares in the last quarter. Blue Trust Inc. boosted its holdings in Sun Communities by 86.2% in the fourth quarter. Blue Trust Inc. now owns 1,164 shares of the real estate investment trust's stock worth $157,000 after purchasing an additional 539 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its position in Sun Communities by 20.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,559 shares of the real estate investment trust's stock worth $192,000 after buying an additional 267 shares during the last quarter. Institutional investors own 99.59% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SUI shares. Truist Financial upped their price target on Sun Communities from $136.00 to $142.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. Jefferies Financial Group began coverage on Sun Communities in a research report on Tuesday. They set a "buy" rating and a $150.00 target price for the company. Wells Fargo & Company dropped their price target on shares of Sun Communities from $154.00 to $135.00 and set an "equal weight" rating on the stock in a research report on Wednesday, December 11th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating on shares of Sun Communities in a report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $137.40.

Sun Communities Stock Performance

Shares of NYSE SUI traded down $0.13 during mid-day trading on Wednesday, hitting $114.49. The company had a trading volume of 537,194 shares, compared to its average volume of 838,105. Sun Communities, Inc. has a 12 month low of $109.22 and a 12 month 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. The firm has a market cap of $14.61 billion, a P/E ratio of 61.64 and a beta of 0.84. The business's 50-day simple moving average is $128.35 and its 200-day simple moving average is $127.96.

Sun Communities (NYSE:SUI - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.02. The company had revenue of $745.90 million for the quarter, compared to analyst estimates of $724.68 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. As a group, analysts predict that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Monday, March 31st. Sun Communities's payout ratio is 508.11%.

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.