Sun Communities, Inc. (NYSE:SUI) Shares Sold by Capital Square LLC

Capital Square LLC lessened its stake in Sun Communities, Inc. (NYSE:SUI) by 4.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,112 shares of the real estate investment trust’s stock after selling 781 shares during the quarter. Sun Communities comprises approximately 1.2% of Capital Square LLC’s holdings, making the stock its 17th biggest holding. Capital Square LLC’s holdings in Sun Communities were worth $2,043,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SUI. Bayesian Capital Management LP acquired a new position in Sun Communities in the 1st quarter worth $2,221,000. Dynasty Wealth Management LLC bought a new position in shares of Sun Communities during the first quarter valued at approximately $282,000. B. Riley Wealth Advisors Inc. grew its stake in Sun Communities by 15.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,752 shares of the real estate investment trust’s stock worth $209,000 after buying an additional 234 shares during the last quarter. Levin Capital Strategies L.P. bought a new position in shares of Sun Communities during the first quarter worth about $1,093,000. Finally, California State Teachers Retirement System grew its position in shares of Sun Communities by 0.5% during the first quarter. California State Teachers Retirement System now owns 196,038 shares of the real estate investment trust’s stock worth $25,207,000 after acquiring an additional 986 shares during the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on SUI shares. StockNews.com cut shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Evercore ISI increased their price target on Sun Communities from $149.00 to $150.00 and gave the stock an “in-line” rating in a research note on Monday, October 21st. Robert W. Baird cut Sun Communities from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $145.00 to $126.00 in a research note on Thursday, November 7th. Wells Fargo & Company increased their target price on shares of Sun Communities from $123.00 to $154.00 and gave the company an “equal weight” rating in a research report on Thursday, September 19th. Finally, Truist Financial increased their price objective on shares of Sun Communities from $127.00 to $138.00 and gave the company a “hold” rating in a report on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $139.08.

Sun Communities Price Performance

Shares of SUI traded up $1.78 during trading hours on Monday, hitting $129.24. 16,418 shares of the company were exchanged, compared to its average volume of 826,258. 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, Inc. has a one year low of $110.98 and a one year high of $147.83. The company has a market capitalization of $16.46 billion, a PE ratio of 68.53, a PEG ratio of 0.54 and a beta of 0.91. The firm has a fifty day simple moving average of $132.51 and a 200-day simple moving average of $127.57.

Sun Communities (NYSE:SUI) last released its earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.20). The firm had revenue of $939.90 million during the quarter, compared to analysts’ expectations of $980.41 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The business’s revenue was down 4.4% on a year-over-year basis. During the same period last year, the business earned $2.57 earnings per share. As a group, sell-side analysts predict that Sun Communities, Inc. will post 6.78 earnings per share for the current year.

Sun Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date was Monday, September 30th. Sun Communities’s payout ratio is presently 202.15%.

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.