Natixis Advisors LLC Trims Stock Position in Sun Communities, Inc. (NYSE:SUI)

Natixis Advisors LLC trimmed its position in Sun Communities, Inc. (NYSE:SUI - Free Report) by 24.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,292 shares of the real estate investment trust's stock after selling 15,529 shares during the period. Natixis Advisors LLC's holdings in Sun Communities were worth $6,392,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Sun Communities by 50.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,302,804 shares of the real estate investment trust's stock valued at $424,677,000 after buying an additional 1,105,306 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Sun Communities by 3.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,949,862 shares of the real estate investment trust's stock worth $354,986,000 after acquiring an additional 111,569 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in Sun Communities by 24.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 2,195,884 shares of the real estate investment trust's stock valued at $264,253,000 after acquiring an additional 424,842 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Sun Communities by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,784,547 shares of the real estate investment trust's stock valued at $214,752,000 after acquiring an additional 10,592 shares in the last quarter. Finally, PGGM Investments boosted its stake in Sun Communities by 159.9% during the 2nd quarter. PGGM Investments now owns 1,246,739 shares of the real estate investment trust's stock valued at $150,033,000 after purchasing an additional 767,126 shares during the last quarter. 99.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on SUI. BMO Capital Markets dropped their target price on Sun Communities from $145.00 to $138.00 and set an "outperform" rating on the stock in a report on Thursday, November 7th. Robert W. Baird downgraded shares of Sun Communities from an "outperform" rating to a "neutral" rating and cut their price objective for the stock from $145.00 to $126.00 in a report on Thursday, November 7th. Bank of America lowered shares of Sun Communities from a "neutral" rating to an "underperform" rating and reduced their target price for the stock from $147.00 to $114.00 in a research note on Tuesday, November 12th. Truist Financial raised their price target on shares of Sun Communities from $127.00 to $138.00 and gave the company a "hold" rating in a research report on Tuesday, August 13th. Finally, Royal Bank of Canada reduced their price objective on shares of Sun Communities from $147.00 to $135.00 and set an "outperform" rating for the company in a research report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $139.08.

Sun Communities Trading Down 0.8 %

Shares of SUI opened at $127.45 on Friday. 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, Inc. has a fifty-two week low of $110.98 and a fifty-two week high of $147.83. The firm has a 50 day moving average price of $132.51 and a 200-day moving average price of $127.42. The firm has a market cap of $16.24 billion, a price-to-earnings ratio of 68.52, a PEG ratio of 0.54 and a beta of 0.91.

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 (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 company had revenue of $939.90 million for the quarter, compared to the consensus estimate of $980.41 million. During the same period last year, the business posted $2.57 earnings per share. The firm's quarterly revenue was down 4.4% compared to the same quarter last year. As a group, equities research analysts forecast that Sun Communities, Inc. will post 6.78 earnings per share for the current year.

Sun Communities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.94 per share. The ex-dividend date was Monday, September 30th. This represents a $3.76 dividend on an annualized basis and a yield of 2.95%. Sun Communities's dividend payout ratio is currently 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.