Hsbc Holdings PLC Decreases Position in Sun Communities, Inc. (NYSE:SUI)

Hsbc Holdings PLC lowered its stake in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 313,029 shares of the real estate investment trust's stock after selling 3,543 shares during the quarter. Hsbc Holdings PLC owned approximately 0.25% of Sun Communities worth $38,353,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd lifted its position in Sun Communities by 263.6% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust's stock valued at $39,000 after acquiring an additional 232 shares during the last quarter. Smartleaf Asset Management LLC raised 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 in the last quarter. CKW Financial Group raised its holdings in Sun Communities by 45.0% during the fourth quarter. CKW Financial Group now owns 435 shares of the real estate investment trust's stock worth $53,000 after purchasing an additional 135 shares in the last quarter. Natixis purchased a new position in Sun Communities in the fourth quarter valued at about $90,000. Finally, Quadrant Capital Group LLC increased its holdings in Sun Communities by 17.2% in the fourth quarter. Quadrant Capital Group LLC now owns 837 shares of the real estate investment trust's stock valued at $103,000 after buying an additional 123 shares in the last quarter. 99.59% of the stock is owned by hedge funds and other institutional investors.

Sun Communities Trading Up 1.0 %

NYSE SUI traded up $1.18 during mid-day trading on Monday, reaching $123.50. 619,057 shares of the stock were exchanged, compared to its average volume of 838,948. Sun Communities, Inc. has a 1-year low of $109.22 and a 1-year high of $147.83. The business's fifty day simple moving average is $127.19 and its 200 day simple moving average is $126.84. The stock has a market capitalization of $15.76 billion, a PE ratio of 66.40 and a beta of 0.84. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61.

Sun Communities (NYSE:SUI - Get Free Report) last issued its earnings results 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. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The business had revenue of $745.90 million for the quarter, compared to analyst estimates of $724.68 million. On average, research analysts anticipate 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 was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date was Monday, March 31st. Sun Communities's dividend payout ratio (DPR) is presently 508.11%.

Analysts Set New Price Targets

A number of brokerages have issued reports on SUI. Royal Bank of Canada reaffirmed an "outperform" rating on shares of Sun Communities in a report on Friday, February 28th. JMP Securities reiterated a "market outperform" rating and issued a $140.00 price target (down from $150.00) on shares of Sun Communities in a research report on Monday, April 21st. Jefferies Financial Group assumed coverage on shares of Sun Communities in a research report on Tuesday, April 8th. They issued a "buy" rating and a $150.00 price target on the stock. Finally, Truist Financial lowered their price target on shares of Sun Communities from $142.00 to $135.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $135.70.

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.