Sun Communities, Inc. (NYSE:SUI) is Vision Capital Corp’s 3rd Largest Position

Vision Capital Corp decreased its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 26.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 274,860 shares of the real estate investment trust’s stock after selling 98,933 shares during the quarter. Sun Communities comprises 6.0% of Vision Capital Corp’s holdings, making the stock its 3rd largest holding. Vision Capital Corp’s holdings in Sun Communities were worth $37,147,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Assetmark Inc. boosted its position in shares of Sun Communities by 2,111.1% during the 3rd quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 190 shares during the period. Quest Partners LLC lifted its stake in Sun Communities by 12,700.0% during the second quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 381 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new position in Sun Communities during the second quarter worth $62,000. Farther Finance Advisors LLC boosted its position in shares of Sun Communities by 89.1% during the third 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 period. Finally, Blue Trust Inc. grew its stake in shares of Sun Communities by 230.7% in the third 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. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Stock Performance

NYSE:SUI opened at $127.46 on Monday. Sun Communities, Inc. has a 12 month low of $110.98 and a 12 month 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. The firm has a market capitalization of $16.24 billion, a PE ratio of 68.53, a price-to-earnings-growth ratio of 0.54 and a beta of 0.91. The business’s fifty day moving average price is $132.51 and its 200 day moving average price is $127.57.

Sun Communities (NYSE:SUI) last announced 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 return on equity of 3.21% and a net margin of 7.46%. The company had revenue of $939.90 million for the quarter, compared to analyst estimates of $980.41 million. During the same quarter in the prior year, the business earned $2.57 earnings per share. Sun Communities’s revenue was down 4.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Sun Communities, Inc. will post 6.78 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.94 dividend. The ex-dividend date was Monday, September 30th. 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%.

Analyst Ratings Changes

Several equities analysts recently issued reports on SUI shares. BMO Capital Markets lowered their target price on Sun Communities from $145.00 to $138.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. UBS Group lowered shares of Sun Communities from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $155.00 to $134.00 in a research note on Thursday, November 14th. Baird R W downgraded shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Bank of America cut shares of Sun Communities from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $147.00 to $114.00 in a research report on Tuesday, November 12th. Finally, Robert W. Baird lowered Sun Communities from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $145.00 to $126.00 in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Sun Communities presently has an average rating of “Hold” and an average price target of $139.08.

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.