Banco Santander S.A. trimmed its position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 38.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,509 shares of the real estate investment trust's stock after selling 2,203 shares during the period. Banco Santander S.A.'s holdings in Sun Communities were worth $432,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the company. Assetmark Inc. increased its stake in Sun Communities by 2,111.1% in the 3rd quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust's stock worth $27,000 after purchasing an additional 190 shares during the period. Brooklyn Investment Group purchased a new position in Sun Communities in the 3rd quarter worth approximately $41,000. Smartleaf Asset Management LLC increased its stake in Sun Communities by 45.1% in the 4th 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 during the period. CKW Financial Group increased its stake in Sun Communities by 45.0% in the 4th 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 during the period. Finally, Point72 Hong Kong Ltd purchased a new position in Sun Communities in the 3rd quarter worth approximately $60,000. 99.59% of the stock is owned by hedge funds and other institutional investors.
Sun Communities Stock Up 1.9 %
SUI stock traded up $2.44 during midday trading on Friday, hitting $128.06. The stock had a trading volume of 860,190 shares, compared to its average volume of 789,284. The firm has a market cap of $16.31 billion, a price-to-earnings ratio of 68.85 and a beta of 0.90. The business has a 50-day moving average of $127.21 and a two-hundred day moving average of $129.60. Sun Communities, Inc. has a 52-week low of $110.98 and a 52-week high of $147.83. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61.
Sun Communities (NYSE:SUI - Get Free Report) last released its earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 EPS 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 the consensus estimate of $724.68 million. As a group, equities research analysts forecast that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
SUI has been the topic of a number of recent analyst reports. UBS Group lowered Sun Communities from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $155.00 to $134.00 in a research report on Thursday, November 14th. Truist Financial lifted their price objective on Sun Communities from $136.00 to $142.00 and gave the stock a "buy" rating in a research report on Monday. StockNews.com lowered Sun Communities from a "hold" rating to a "sell" rating in a research report on Wednesday, November 20th. Jefferies Financial Group cut their price objective on Sun Communities from $145.00 to $142.00 and set a "buy" rating on the stock in a research report on Thursday, January 2nd. Finally, Wells Fargo & Company cut 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 research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Sun Communities presently has a consensus rating of "Hold" and a consensus target price of $135.55.
View Our Latest Research Report on Sun Communities
Sun Communities Profile
(
Free Report)
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.
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