Sun Communities, Inc. (NYSE:SUI) Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lifted its stake in Sun Communities, Inc. (NYSE:SUI - Free Report) by 28.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 82,686 shares of the real estate investment trust's stock after purchasing an additional 18,548 shares during the quarter. Thrivent Financial for Lutherans owned about 0.07% of Sun Communities worth $11,175,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Assetmark Inc. lifted its stake in shares of Sun Communities by 2,111.1% during the third quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust's stock worth $27,000 after buying an additional 190 shares during the period. Quest Partners LLC lifted its position 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 worth $46,000 after acquiring an additional 381 shares during the period. Farther Finance Advisors LLC grew its stake in Sun Communities by 89.1% during the 3rd 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 during the last quarter. 1620 Investment Advisors Inc. acquired a new position in shares of Sun Communities in the second quarter valued at about $62,000. Finally, Blue Trust Inc. increased its holdings in shares of Sun Communities by 230.7% in the third quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust's stock valued at $84,000 after purchasing an additional 436 shares during the period. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on SUI shares. Royal Bank of Canada dropped their target price on Sun Communities from $147.00 to $135.00 and set an "outperform" rating on the stock in a research report on Thursday, November 7th. Evercore ISI raised their target price on shares of Sun Communities from $149.00 to $150.00 and gave the stock an "in-line" rating in a report on Monday, October 21st. Baird R W downgraded shares of Sun Communities from a "strong-buy" rating to a "hold" rating in a research report on Thursday, November 7th. Jefferies Financial Group began coverage on Sun Communities in a research report on Thursday, October 17th. They set a "buy" rating and a $160.00 price target on the stock. Finally, Truist Financial boosted their target price on shares of Sun Communities from $127.00 to $138.00 and gave the company a "hold" rating in a research note on Tuesday, August 13th. Two equities 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 company's stock. According to data from MarketBeat.com, Sun Communities currently has an average rating of "Hold" and a consensus price target of $139.08.

Sun Communities Price Performance

SUI stock traded down $1.07 during mid-day trading on Friday, reaching $127.45. The company's stock had a trading volume of 559,175 shares, compared to its average volume of 829,826. Sun Communities, Inc. has a fifty-two week low of $110.98 and a fifty-two week high of $147.83. The stock has a market cap of $16.24 billion, a PE ratio of 68.53, a P/E/G 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. The company's 50 day moving average is $132.91 and its two-hundred day moving average is $127.33.

Sun Communities (NYSE:SUI - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.20). The firm had revenue of $939.90 million for the quarter, compared to analyst estimates of $980.41 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. Sun Communities'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 earnings per share. Equities research analysts expect that Sun Communities, Inc. will post 6.78 EPS for the current year.

Sun Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.94 dividend. The ex-dividend date was Monday, September 30th. This represents a $3.76 annualized dividend and a yield of 2.95%. Sun Communities's payout ratio is 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.