Sun Communities, Inc. (NYSE:SUI) Holdings Lowered by Tredje AP fonden

Tredje AP fonden cut its position in Sun Communities, Inc. (NYSE:SUI - Free Report) by 50.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,854 shares of the real estate investment trust's stock after selling 9,853 shares during the quarter. Tredje AP fonden's holdings in Sun Communities were worth $1,212,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in 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 purchased a new position in shares of Sun Communities in the third quarter valued at $41,000. Smartleaf Asset Management LLC boosted its stake in Sun Communities by 45.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust's stock valued at $49,000 after acquiring an additional 124 shares during the last quarter. CKW Financial Group grew its holdings in Sun Communities by 45.0% during the 4th quarter. CKW Financial Group now owns 435 shares of the real estate investment trust's stock worth $53,000 after acquiring an additional 135 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in Sun Communities during the 3rd quarter worth $60,000. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SUI shares. Wells Fargo & Company decreased their price objective on shares of Sun Communities from $154.00 to $135.00 and set an "equal weight" rating for the company in a report on Wednesday, December 11th. 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. Royal Bank of Canada reissued an "outperform" rating on shares of Sun Communities in a report on Friday, February 28th. Truist Financial raised their price objective on shares of Sun Communities from $136.00 to $142.00 and gave the stock a "buy" rating in a report on Monday, March 10th. Finally, StockNews.com lowered shares of Sun Communities from a "hold" rating to a "sell" rating in a report on Wednesday, November 20th. 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. According to data from MarketBeat, Sun Communities currently has an average rating of "Hold" and an average price target of $135.55.

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Sun Communities Stock Performance

NYSE:SUI traded down $1.19 during mid-day trading on Wednesday, hitting $131.65. The stock had a trading volume of 883,112 shares, compared to its average volume of 848,057. The stock has a market capitalization of $16.77 billion, a price-to-earnings ratio of 70.78 and a beta of 0.90. The company has a 50 day simple moving average of $127.67 and a 200-day simple moving average of $129.50. Sun Communities, Inc. has a 52 week low of $110.98 and a 52 week high of $147.83. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93.

Sun Communities (NYSE:SUI - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.02. The firm had revenue of $745.90 million for the quarter, compared to the consensus estimate of $724.68 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. On average, research analysts expect that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.94 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.76 annualized dividend and a yield of 2.86%. Sun Communities's dividend payout ratio is presently 508.11%.

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.