Sun Communities, Inc. (NYSE:SUI) Shares Sold by Hunter Perkins Capital Management LLC

Hunter Perkins Capital Management LLC lessened its holdings in Sun Communities, Inc. (NYSE:SUI) by 16.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 61,945 shares of the real estate investment trust’s stock after selling 12,585 shares during the quarter. Sun Communities makes up approximately 1.6% of Hunter Perkins Capital Management LLC’s holdings, making the stock its 23rd largest position. Hunter Perkins Capital Management LLC’s holdings in Sun Communities were worth $7,655,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Assetmark Inc. increased its holdings in shares of Sun Communities by 2,111.1% in the 3rd quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 190 shares during the last quarter. Brooklyn Investment Group purchased a new position in Sun Communities in the third quarter valued at approximately $41,000. Point72 Hong Kong Ltd acquired a new stake in Sun Communities during the third quarter worth approximately $60,000. Farther Finance Advisors LLC lifted its position in shares of Sun Communities by 89.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock worth $68,000 after buying an additional 236 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Sun Communities by 230.7% in the 3rd quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock valued at $84,000 after buying an additional 436 shares in the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on SUI shares. Robert W. Baird downgraded shares of Sun Communities from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $145.00 to $126.00 in a research note on Thursday, November 7th. Royal Bank of Canada reduced their price objective on Sun Communities from $147.00 to $135.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Wells Fargo & Company decreased their price objective on Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Bank of America cut shares of 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 report on Tuesday, November 12th. Finally, StockNews.com cut shares of Sun Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $134.08.

Sun Communities Trading Up 1.0 %

Shares of Sun Communities stock opened at $127.39 on Monday. The firm has a market cap of $16.23 billion, a price-to-earnings ratio of 68.49, a price-to-earnings-growth ratio of 0.51 and a beta of 0.89. Sun Communities, Inc. has a 52-week low of $110.98 and a 52-week high of $147.83. The company’s 50-day simple moving average is $124.52 and its 200-day simple moving average is $129.48. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93.

Sun Communities (NYSE:SUI) last posted its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.20). Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The business had revenue of $939.90 million during the quarter, compared to analyst estimates of $980.41 million. During the same period in the prior year, the business earned $2.57 earnings per share. The firm’s quarterly revenue was down 4.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Sun Communities, Inc. will post 6.78 earnings per share for the current year.

Sun Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.94 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.95%. Sun Communities’s dividend payout ratio (DPR) is presently 202.15%.

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.