Andra AP fonden Trims Stock Position in Sun Communities, Inc. (NYSE:SUI)

Andra AP fonden reduced its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 94.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,181 shares of the real estate investment trust’s stock after selling 40,219 shares during the quarter. Andra AP fonden’s holdings in Sun Communities were worth $268,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in SUI. FMR LLC increased its position 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 purchasing an additional 1,430,630 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position 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 buying an additional 1,209,522 shares during the period. Westfield Capital Management Co. LP grew its position 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 buying an additional 355,427 shares during the period. Adelante Capital Management LLC grew its position in shares of Sun Communities by 168.7% in the 3rd quarter. Adelante Capital Management LLC now owns 559,129 shares of the real estate investment trust’s stock worth $75,566,000 after buying an additional 351,017 shares during the period. Finally, abrdn plc grew its position in shares of Sun Communities by 343.5% in the 4th quarter. abrdn plc now owns 277,988 shares of the real estate investment trust’s stock worth $34,098,000 after buying an additional 215,314 shares during the period. 99.59% of the stock is owned by hedge funds and other institutional investors.

Sun Communities Stock Performance

Shares of Sun Communities stock opened at $133.60 on Monday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. The stock has a market cap of $17.02 billion, a price-to-earnings ratio of 71.83 and a beta of 0.90. The firm’s 50-day moving average is $126.73 and its 200 day moving average is $129.67. Sun Communities, Inc. has a 1 year low of $110.98 and a 1 year high of $147.83.

Sun Communities (NYSE:SUI) last posted its earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.02. The business had revenue of $745.90 million for the quarter, compared to analysts’ expectations of $724.68 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. Sell-side analysts anticipate that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SUI. StockNews.com downgraded shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. UBS Group downgraded shares of Sun Communities from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $155.00 to $134.00 in a research report on Thursday, November 14th. Bank of America downgraded shares of Sun Communities from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $147.00 to $114.00 in a research report on Tuesday, November 12th. Wells Fargo & Company reduced their target price on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. Finally, Jefferies Financial Group reduced their target price on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $134.55.

About Sun Communities

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.