Presima Securities ULC Has $10.80 Million Stock Position in Sun Communities, Inc. (NYSE:SUI)

Presima Securities ULC trimmed its position in Sun Communities, Inc. (NYSE:SUI - Free Report) by 20.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 87,862 shares of the real estate investment trust's stock after selling 22,491 shares during the quarter. Sun Communities comprises approximately 2.7% of Presima Securities ULC's holdings, making the stock its 14th largest position. Presima Securities ULC owned 0.07% of Sun Communities worth $10,804,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Sun Communities by 8.5% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,069 shares of the real estate investment trust's stock valued at $131,000 after acquiring an additional 84 shares during the period. Toronto Dominion Bank boosted its stake in Sun Communities by 0.8% during the 2nd quarter. Toronto Dominion Bank now owns 11,916 shares of the real estate investment trust's stock valued at $1,434,000 after purchasing an additional 98 shares during the period. Northwestern Mutual Wealth Management Co. grew 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 valued at $92,000 after buying an additional 102 shares during the last quarter. Cetera Trust Company N.A increased its position 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. Finally, Avior Wealth Management LLC lifted its holdings in shares of Sun Communities by 3.0% during the third 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 last quarter. 99.59% of the stock is owned by institutional investors.

Sun Communities Price Performance

SUI stock traded up $1.22 during trading on Friday, hitting $127.39. 522,808 shares of the stock traded hands, compared to its average volume of 716,582. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. The stock has a market cap of $16.23 billion, a price-to-earnings ratio of 68.49, a P/E/G ratio of 0.51 and a beta of 0.89. Sun Communities, Inc. has a one year low of $110.98 and a one year high of $147.83. The company has a 50 day simple moving average of $124.52 and a 200 day simple moving average of $129.41.

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

Sun Communities Announces Dividend

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

Analyst Ratings Changes

A number of brokerages recently issued reports on SUI. Bank of America lowered shares of Sun Communities from a "neutral" rating to an "underperform" rating and dropped their target price for the stock from $147.00 to $114.00 in a research report on Tuesday, November 12th. Robert W. Baird lowered shares of Sun Communities from an "outperform" rating to a "neutral" rating and cut their price objective for the company from $145.00 to $126.00 in a research report on Thursday, November 7th. Truist Financial raised Sun Communities from a "hold" rating to a "buy" rating in a research report on Friday, January 17th. Jefferies Financial Group cut their price target on Sun Communities from $145.00 to $142.00 and set a "buy" rating for the company in a report on Thursday, January 2nd. Finally, Wells Fargo & Company lowered their price objective on 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. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Sun Communities currently has an average rating of "Hold" and an average target price of $135.69.

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.