Sun Communities, Inc. (NYSE:SUI) Shares Sold by KBC Group NV

KBC Group NV lowered its stake in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 62.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,748 shares of the real estate investment trust's stock after selling 68,191 shares during the quarter. KBC Group NV's holdings in Sun Communities were worth $5,134,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of SUI. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Sun Communities by 8.5% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,069 shares of the real estate investment trust's stock worth $131,000 after buying an additional 84 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in Sun Communities by 15.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 762 shares of the real estate investment trust's stock worth $92,000 after buying an additional 102 shares during the period. Cetera Trust Company N.A increased its holdings in Sun Communities by 6.0% in the 4th quarter. Cetera Trust Company N.A now owns 1,865 shares of the real estate investment trust's stock worth $229,000 after buying an additional 105 shares during the period. Avior Wealth Management LLC increased its holdings in Sun Communities by 3.0% in the 3rd quarter. Avior Wealth Management LLC now owns 4,328 shares of the real estate investment trust's stock worth $585,000 after buying an additional 125 shares during the period. Finally, Osborne Partners Capital Management LLC increased its holdings in Sun Communities by 0.4% in the 3rd quarter. Osborne Partners Capital Management LLC now owns 43,757 shares of the real estate investment trust's stock worth $5,914,000 after buying an additional 181 shares during the period. Institutional investors and hedge funds own 99.59% of the company's stock.

Sun Communities Price Performance

Shares of NYSE:SUI traded up $1.26 during midday trading on Friday, reaching $127.26. 144,251 shares of the company's stock traded hands, compared to its average volume of 815,566. The company has a fifty day simple moving average of $124.56 and a two-hundred day simple moving average of $129.59. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. The company has a market cap of $16.21 billion, a P/E ratio of 68.43 and a beta of 0.89. Sun Communities, Inc. has a 1 year low of $110.98 and a 1 year high of $147.83.

Sun Communities (NYSE:SUI - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share for the quarter, missing analysts' consensus estimates of $2.51 by ($0.20). The firm had revenue of $939.90 million during the quarter, compared to analysts' expectations of $980.41 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The company's revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.57 EPS. Equities analysts predict that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.94 per share. The ex-dividend date was Tuesday, December 31st. This represents a $3.76 annualized dividend and a dividend yield of 2.95%. Sun Communities's dividend payout ratio is presently 202.15%.

Wall Street Analyst Weigh In

A number of brokerages have 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. Baird R W cut shares of Sun Communities from a "strong-buy" rating to a "hold" rating in a research note on Thursday, November 7th. Evercore ISI raised their price objective 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. Royal Bank of Canada dropped their price objective on shares of Sun Communities from $147.00 to $135.00 and set an "outperform" rating on the stock in a research note on Thursday, November 7th. Finally, Wells Fargo & Company dropped their price objective on shares of Sun Communities from $154.00 to $135.00 and set an "equal weight" rating on the stock in a research note on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $134.55.

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.