Sun Communities, Inc. (NYSE:SUI) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank decreased its stake in Sun Communities, Inc. (NYSE:SUI - Free Report) by 7.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 72,406 shares of the real estate investment trust's stock after selling 6,064 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.06% of Sun Communities worth $9,786,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in SUI. Assetmark Inc. increased its position in shares of Sun Communities by 2,111.1% in the third quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust's stock valued at $27,000 after buying an additional 190 shares in the last quarter. Brooklyn Investment Group purchased a new position in Sun Communities during the 3rd quarter valued at about $41,000. Quest Partners LLC increased its holdings in Sun Communities by 12,700.0% during the 2nd quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust's stock valued at $46,000 after acquiring an additional 381 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new position in Sun Communities during the second quarter worth about $62,000. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Sun Communities by 89.1% in the third quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust's stock valued at $68,000 after purchasing an additional 236 shares in the last quarter. Hedge funds and other institutional investors own 99.59% of the company's stock.

Sun Communities Trading Up 0.5 %

NYSE:SUI traded up $0.67 on Monday, hitting $127.00. 813,684 shares of the stock were exchanged, compared to its average volume of 828,352. The stock has a fifty day moving average of $130.66 and a 200-day moving average of $127.97. The stock has a market cap of $16.18 billion, a PE ratio of 68.28, a PEG ratio of 0.53 and a beta of 0.91. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. Sun Communities, Inc. has a fifty-two week low of $110.98 and a fifty-two week high of $147.83.

Sun Communities (NYSE:SUI - Get Free Report) last announced its quarterly earnings results 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). Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The business had revenue of $939.90 million for the quarter, compared to analyst estimates of $980.41 million. During the same period last year, the firm earned $2.57 earnings per share. The company's quarterly revenue was down 4.4% on a year-over-year basis. As a group, equities analysts expect that Sun Communities, Inc. will post 6.78 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.96%. Sun Communities's dividend payout ratio is currently 202.15%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SUI. Robert W. Baird cut shares of Sun Communities from an "outperform" rating to a "neutral" rating and dropped their price objective for the stock from $145.00 to $126.00 in a research note on Thursday, November 7th. Wells Fargo & Company boosted their price target on Sun Communities from $123.00 to $154.00 and gave the stock an "equal weight" rating in a report on Thursday, September 19th. Truist Financial upped their price objective on Sun Communities from $127.00 to $138.00 and gave the company a "hold" rating in a research report on Tuesday, August 13th. UBS Group cut Sun Communities from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $155.00 to $134.00 in a research report on Thursday, November 14th. Finally, Baird R W lowered shares of Sun Communities from a "strong-buy" rating to a "hold" rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $139.08.

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.