Centiva Capital LP Has $2.89 Million Holdings in Sun Communities, Inc. (NYSE:SUI)

Centiva Capital LP lifted its holdings in Sun Communities, Inc. (NYSE:SUI - Free Report) by 110.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,394 shares of the real estate investment trust's stock after purchasing an additional 11,210 shares during the quarter. Centiva Capital LP's holdings in Sun Communities were worth $2,891,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SUI. Victory Capital Management Inc. boosted its holdings in Sun Communities by 6.9% during the third quarter. Victory Capital Management Inc. now owns 77,203 shares of the real estate investment trust's stock worth $10,434,000 after buying an additional 5,008 shares in the last quarter. FMR LLC boosted its stake in shares of Sun Communities by 37.6% during the 3rd quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust's stock worth $707,329,000 after acquiring an additional 1,430,630 shares in the last quarter. KBC Group NV grew its holdings in shares of Sun Communities by 303.3% in the 3rd quarter. KBC Group NV now owns 109,939 shares of the real estate investment trust's stock worth $14,858,000 after acquiring an additional 82,682 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of Sun Communities during the second quarter worth $13,164,000. Finally, AMG National Trust Bank purchased a new stake in shares of Sun Communities during the third quarter valued at $1,690,000. Institutional investors own 99.59% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SUI shares. UBS Group downgraded 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 report on Thursday, November 14th. Evercore ISI boosted their price target on shares of Sun Communities from $149.00 to $150.00 and gave the company an "in-line" rating in a report on Monday, October 21st. Wells Fargo & Company raised their price objective on shares of Sun Communities from $123.00 to $154.00 and gave the stock an "equal weight" rating in a research note on Thursday, September 19th. StockNews.com cut Sun Communities from a "hold" rating to a "sell" rating in a research note on Wednesday, November 20th. Finally, Baird R W cut 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 assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Sun Communities currently has an average rating of "Hold" and an average price target of $139.08.

Sun Communities Stock Performance

Shares of SUI stock traded up $0.63 during trading hours on Tuesday, reaching $127.63. 417,976 shares of the company's stock were exchanged, compared to its average volume of 826,507. The business has a fifty day moving average price of $130.66 and a 200-day moving average price of $127.97. The stock has a market capitalization of $16.26 billion, a P/E ratio of 68.28, a P/E/G ratio of 0.53 and a beta of 0.89. The company has a quick ratio of 1.61, a current 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 posted 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). Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The company had revenue of $939.90 million for the quarter, compared to the consensus estimate of $980.41 million. During the same quarter in the previous year, the firm posted $2.57 EPS. The business's revenue for the quarter was down 4.4% compared to the same quarter last year. Analysts predict 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 will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.94 per share. 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.