11,576 Shares in Sun Communities, Inc. (NYSE:SUI) Acquired by Virtu Financial LLC

Virtu Financial LLC bought a new position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,576 shares of the real estate investment trust's stock, valued at approximately $1,564,000.

Several other hedge funds have also recently modified their holdings of SUI. Assetmark Inc. increased its stake in Sun Communities by 2,111.1% during the 3rd quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust's stock worth $27,000 after buying an additional 190 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of Sun Communities in the third quarter worth approximately $41,000. Quest Partners LLC increased its position in shares of Sun Communities by 12,700.0% during the second quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust's stock worth $46,000 after purchasing an additional 381 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in Sun Communities in the 3rd quarter valued at $60,000. Finally, 1620 Investment Advisors Inc. purchased a new position in Sun Communities in the 2nd quarter valued at $62,000. Institutional investors and hedge funds own 99.59% of the company's stock.

Sun Communities Trading Down 0.8 %

Shares of NYSE SUI traded down $1.00 during mid-day trading on Friday, reaching $122.20. 447,161 shares of the company's stock were exchanged, compared to its average volume of 827,115. The company's 50-day moving average is $128.97 and its 200-day moving average is $128.08. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. The firm has a market capitalization of $15.57 billion, a price-to-earnings ratio of 65.43, a PEG ratio of 0.51 and a beta of 0.88. Sun Communities, Inc. has a 52-week low of $110.98 and a 52-week high of $147.83.

Sun Communities (NYSE:SUI - Get Free Report) last announced its earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.20). The company had revenue of $939.90 million for the quarter, compared to analysts' expectations of $980.41 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The company's quarterly revenue was down 4.4% compared to the same quarter last year. During the same period last year, the business earned $2.57 EPS. Analysts expect that Sun Communities, Inc. will post 6.78 EPS for the current fiscal year.

Sun Communities Announces Dividend

The company 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 3.08%. The ex-dividend date is Tuesday, December 31st. Sun Communities's dividend payout ratio (DPR) is 202.15%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SUI. Robert W. Baird lowered shares of Sun Communities from an "outperform" rating to a "neutral" rating and dropped their target price for the stock from $145.00 to $126.00 in a report on Thursday, November 7th. Jefferies Financial Group assumed coverage on shares of Sun Communities in a research note on Thursday, October 17th. They set a "buy" rating and a $160.00 price objective for the company. Baird R W lowered shares of Sun Communities from a "strong-buy" rating to a "hold" rating in a research note on Thursday, November 7th. UBS Group cut Sun Communities from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $155.00 to $134.00 in a report on Thursday, November 14th. Finally, Bank of America cut Sun Communities from a "neutral" rating to an "underperform" rating and cut their price target for the company from $147.00 to $114.00 in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $137.08.

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.