Baillie Gifford & Co. Reduces Stock Holdings in Sun Communities, Inc. (NYSE:SUI)

Baillie Gifford & Co. decreased its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 43.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,182 shares of the real estate investment trust’s stock after selling 31,965 shares during the quarter. Baillie Gifford & Co.’s holdings in Sun Communities were worth $5,064,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of SUI. FMR LLC raised its holdings in Sun Communities by 37.6% during the 3rd quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust’s stock valued at $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 raised its holdings in Sun Communities by 1,061.4% during 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 valued at $178,868,000 after acquiring an additional 1,209,522 shares during the period. Westfield Capital Management Co. LP raised its holdings in Sun Communities by 58.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 959,879 shares of the real estate investment trust’s stock valued at $129,728,000 after acquiring an additional 355,427 shares during the period. Adelante Capital Management LLC raised its holdings in Sun Communities by 168.7% during the 3rd quarter. Adelante Capital Management LLC now owns 559,129 shares of the real estate investment trust’s stock valued at $75,566,000 after acquiring an additional 351,017 shares during the period. Finally, abrdn plc raised its holdings in Sun Communities by 343.5% during the 4th quarter. abrdn plc now owns 277,988 shares of the real estate investment trust’s stock valued at $34,098,000 after acquiring an additional 215,314 shares during the period. Institutional investors own 99.59% of the company’s stock.

Sun Communities Stock Up 0.8 %

SUI opened at $125.96 on Wednesday. The stock has a market cap of $16.05 billion, a PE ratio of 67.72 and a beta of 0.90. 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, Inc. has a 52 week low of $110.98 and a 52 week high of $147.83. The business’s fifty day simple moving average is $124.28 and its 200 day simple moving average is $129.62.

Sun Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.76 annualized dividend and a yield of 2.99%. Sun Communities’s payout ratio is 202.15%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Baird R W cut shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. StockNews.com cut shares of Sun Communities from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Truist Financial raised shares of Sun Communities from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Royal Bank of Canada decreased their price target on shares of Sun Communities from $147.00 to $135.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Finally, Bank of America cut shares of Sun Communities from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $147.00 to $114.00 in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $134.55.

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.