Zurcher Kantonalbank Zurich Cantonalbank increased its position in Sun Communities, Inc. (NYSE:SUI - Free Report) by 35.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 97,831 shares of the real estate investment trust's stock after acquiring an additional 25,425 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.08% of Sun Communities worth $12,030,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the company. FMR LLC increased its holdings in shares of Sun Communities by 37.6% in 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Sun Communities by 1,061.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,323,479 shares of the real estate investment trust's stock worth $178,868,000 after acquiring an additional 1,209,522 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Sun Communities by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,123,440 shares of the real estate investment trust's stock worth $138,149,000 after acquiring an additional 47,899 shares during the period. Westfield Capital Management Co. LP increased its holdings in shares of Sun Communities by 58.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 959,879 shares of the real estate investment trust's stock worth $129,728,000 after acquiring an additional 355,427 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Sun Communities by 16.1% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 779,744 shares of the real estate investment trust's stock worth $95,885,000 after acquiring an additional 108,054 shares during the period. Institutional investors and hedge funds own 99.59% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on SUI shares. StockNews.com cut shares of Sun Communities from a "hold" rating to a "sell" rating in a report on Wednesday, November 20th. Royal Bank of Canada reiterated an "outperform" rating on shares of Sun Communities in a research report on Friday, February 28th. Wells Fargo & Company decreased their target price on shares of Sun Communities from $154.00 to $135.00 and set an "equal weight" rating for the company in a research report on Wednesday, December 11th. Jefferies Financial Group decreased their target price on shares of Sun Communities from $145.00 to $142.00 and set a "buy" rating for the company in a research report on Thursday, January 2nd. Finally, Truist Financial increased their target price on shares of Sun Communities from $136.00 to $142.00 and gave the company a "buy" rating in a research report on Monday, March 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $135.55.
Check Out Our Latest Analysis on SUI
Sun Communities Price Performance
Shares of NYSE:SUI traded up $2.44 during trading hours on Friday, hitting $128.06. 860,190 shares of the company's stock traded hands, compared to its average volume of 788,553. Sun Communities, Inc. has a 52 week low of $110.98 and a 52 week high of $147.83. 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 company's fifty day simple moving average is $127.27 and its two-hundred day simple moving average is $129.54. The company has a market cap of $16.31 billion, a price-to-earnings ratio of 68.85 and a beta of 0.90.
Sun Communities (NYSE:SUI - Get Free Report) last posted 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. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The company had revenue of $745.90 million during the quarter, compared to analyst estimates of $724.68 million. As a group, equities analysts anticipate that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.
Sun Communities Company Profile
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Free Report)
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.
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