Swiss National Bank Has $43.31 Million Position in Sun Communities, Inc. (NYSE:SUI)

Swiss National Bank lessened its holdings in Sun Communities, Inc. (NYSE:SUI - Free Report) by 4.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 352,160 shares of the real estate investment trust's stock after selling 17,700 shares during the quarter. Swiss National Bank owned 0.28% of Sun Communities worth $43,305,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SUI. Assetmark Inc. lifted 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 worth $27,000 after purchasing an additional 190 shares in the last quarter. Brooklyn Investment Group acquired a new position in Sun Communities during the third quarter worth $41,000. Smartleaf Asset Management LLC increased its holdings in Sun Communities by 45.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust's stock worth $49,000 after buying an additional 124 shares during the last quarter. CKW Financial Group increased its holdings in Sun Communities by 45.0% during the fourth quarter. CKW Financial Group now owns 435 shares of the real estate investment trust's stock worth $53,000 after buying an additional 135 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in Sun Communities during the third quarter worth $60,000. Institutional investors own 99.59% of the company's stock.

Sun Communities Price Performance

SUI traded down $0.03 on Thursday, hitting $131.58. 857,293 shares of the stock were exchanged, compared to its average volume of 792,377. Sun Communities, Inc. has a 12 month low of $110.98 and a 12 month high of $147.83. The business has a 50-day moving average of $127.85 and a two-hundred day moving average of $129.51. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. The firm has a market capitalization of $16.76 billion, a price-to-earnings ratio of 70.74 and a beta of 0.90.

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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, topping analysts' consensus estimates of $1.39 by $0.02. The firm had revenue of $745.90 million during the quarter, compared to analysts' expectations of $724.68 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. Sell-side analysts forecast that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.94 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.86%. Sun Communities's dividend payout ratio (DPR) is currently 508.11%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SUI shares. Wells Fargo & Company lowered their target price on shares of Sun Communities from $154.00 to $135.00 and set an "equal weight" rating on the stock in a report on Wednesday, December 11th. Royal Bank of Canada reiterated an "outperform" rating on shares of Sun Communities in a report on Friday, February 28th. Truist Financial upped their price objective on shares of Sun Communities from $136.00 to $142.00 and gave the company a "buy" rating in a report on Monday, March 10th. StockNews.com downgraded shares of Sun Communities from a "hold" rating to a "sell" rating in a report on Wednesday, November 20th. Finally, Jefferies Financial Group decreased their price target on shares of Sun Communities from $145.00 to $142.00 and set a "buy" rating on the stock in a research note on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $135.55.

Sun Communities Company 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.