Wealthfront Advisers LLC Purchases 63,366 Shares of Sun Communities, Inc. (NYSE:SUI)

Wealthfront Advisers LLC lifted its position in shares of Sun Communities, Inc. (NYSE:SUI) by 712.9% during the fourth quarter, HoldingsChannel reports. The firm owned 72,254 shares of the real estate investment trust’s stock after buying an additional 63,366 shares during the quarter. Wealthfront Advisers LLC’s holdings in Sun Communities were worth $8,885,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in SUI. Farther Finance Advisors LLC increased its stake in Sun Communities by 89.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock valued at $68,000 after buying an additional 236 shares during the last quarter. Assetmark Inc. boosted its holdings in 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 purchasing an additional 190 shares during the period. Entropy Technologies LP raised its position in shares of Sun Communities by 44.4% in the 3rd quarter. Entropy Technologies LP now owns 12,685 shares of the real estate investment trust’s stock valued at $1,714,000 after buying an additional 3,903 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Sun Communities by 6.9% in the 3rd quarter. Victory Capital Management Inc. now owns 77,203 shares of the real estate investment trust’s stock valued at $10,434,000 after buying an additional 5,008 shares in the last quarter. Finally, KBC Group NV raised its position in shares of Sun Communities by 303.3% in the 3rd quarter. KBC Group NV now owns 109,939 shares of the real estate investment trust’s stock valued at $14,858,000 after buying an additional 82,682 shares in the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Sun Communities Price Performance

NYSE SUI opened at $128.21 on Thursday. Sun Communities, Inc. has a 12 month low of $110.98 and a 12 month high of $147.83. The stock has a market cap of $16.33 billion, a price-to-earnings ratio of 68.93 and a beta of 0.90. The company’s 50 day moving average is $127.14 and its two-hundred day moving average is $129.63. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. UBS Group cut shares of Sun Communities from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $155.00 to $134.00 in a research report on Thursday, November 14th. Wells Fargo & Company reduced their price objective on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th. Truist Financial increased their target price on shares of Sun Communities from $136.00 to $142.00 and gave the stock a “buy” rating in a research note on Monday. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Sun Communities in a research note on Friday, February 28th. Finally, Jefferies Financial Group dropped their price objective on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $135.55.

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.