Corient Private Wealth LLC Has $11.38 Million Holdings in Sun Communities, Inc. (NYSE:SUI)

Corient Private Wealth LLC cut its holdings in Sun Communities, Inc. (NYSE:SUI) by 0.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 92,569 shares of the real estate investment trust’s stock after selling 502 shares during the period. Corient Private Wealth LLC owned approximately 0.07% of Sun Communities worth $11,383,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. FMR LLC grew its stake in shares of Sun Communities by 37.6% in the third 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 in the last quarter. Daiwa Securities Group Inc. grew its stake in Sun Communities by 23.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 2,344,020 shares of the real estate investment trust’s stock worth $288,244,000 after buying an additional 442,557 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Sun Communities by 1,061.4% during the third 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 in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Sun Communities by 4.5% during the fourth 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 buying an additional 47,899 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its stake in Sun Communities by 58.8% during the third 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 in the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SUI shares. Royal Bank of Canada reiterated an “outperform” rating on shares of Sun Communities in a research note on Friday, February 28th. StockNews.com downgraded shares of Sun Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Jefferies Financial Group reduced 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. Truist Financial increased their price objective on shares of Sun Communities from $136.00 to $142.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Finally, Wells Fargo & Company dropped 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 report on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Sun Communities has a consensus rating of “Hold” and a consensus target price of $135.55.

Sun Communities Stock Down 0.9 %

Shares of NYSE SUI opened at $131.65 on Thursday. The company has a 50 day simple moving average of $127.85 and a 200 day simple moving average of $129.51. The firm has a market cap of $16.77 billion, a PE ratio of 70.78 and a beta of 0.90. Sun Communities, Inc. has a 1 year low of $110.98 and a 1 year high of $147.83. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61.

Sun Communities (NYSE:SUI) last issued its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. The business 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%. On average, research analysts forecast that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.94 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.76 dividend on an annualized basis and a yield of 2.86%. Sun Communities’s dividend payout ratio (DPR) is presently 508.11%.

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.