Sun Communities, Inc. (NYSE:SUI) Position Cut by Naviter Wealth LLC

Naviter Wealth LLC lessened its stake in Sun Communities, Inc. (NYSE:SUI - Free Report) by 22.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,961 shares of the real estate investment trust's stock after selling 1,975 shares during the quarter. Naviter Wealth LLC's holdings in Sun Communities were worth $863,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SUI. Assetmark Inc. boosted its stake 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 purchasing an additional 190 shares during the period. Brooklyn Investment Group acquired a new position in Sun Communities in the 3rd quarter worth $41,000. Smartleaf Asset Management LLC boosted its position 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 valued at $49,000 after buying an additional 124 shares during the last quarter. CKW Financial Group boosted its position 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 valued at $53,000 after buying an additional 135 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Sun Communities during the third quarter valued at about $60,000. Institutional investors and hedge funds own 99.59% of the company's stock.

Sun Communities Stock Performance

Shares of NYSE SUI traded down $1.55 during midday trading on Wednesday, hitting $128.21. The company's stock had a trading volume of 583,378 shares, compared to its average volume of 789,729. The firm has a market cap of $16.33 billion, a P/E ratio of 68.93 and a beta of 0.90. Sun Communities, Inc. has a 1-year low of $110.98 and a 1-year high of $147.83. The firm's fifty day moving average price is $127.04 and its 200-day moving average price is $129.64. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61.

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Sun Communities (NYSE:SUI - Get Free Report) last posted its earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 EPS for the quarter, beating the consensus estimate of $1.39 by $0.02. The company had revenue of $745.90 million during the quarter, compared to analyst estimates of $724.68 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. On average, sell-side analysts forecast that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on the company. StockNews.com downgraded Sun Communities from a "hold" rating to a "sell" rating in a report on Wednesday, November 20th. Bank of America lowered Sun Communities from a "neutral" rating to an "underperform" rating and cut their target price for the company from $147.00 to $114.00 in a research report on Tuesday, November 12th. Truist Financial raised their price target on shares of Sun Communities from $136.00 to $142.00 and gave the stock a "buy" rating in a research report on Monday. UBS Group cut shares of Sun Communities from a "buy" rating to a "neutral" rating and cut their price target for the company from $155.00 to $134.00 in a report on Thursday, November 14th. Finally, Jefferies Financial Group decreased their price objective on shares of Sun Communities from $145.00 to $142.00 and set a "buy" rating for the company in a report on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $135.55.

About Sun Communities

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.