Sun Communities, Inc. (NYSE:SUI) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 7.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 72,406 shares of the real estate investment trust’s stock after selling 6,064 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.06% of Sun Communities worth $9,786,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Assetmark Inc. boosted its stake in Sun Communities by 2,111.1% during the third quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 190 shares during the period. Brooklyn Investment Group acquired a new position in shares of Sun Communities in the 3rd quarter worth approximately $41,000. Quest Partners LLC boosted its position in shares of Sun Communities by 12,700.0% during the 2nd 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 during the period. Farther Finance Advisors LLC boosted its position in shares of Sun Communities by 89.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock worth $68,000 after purchasing an additional 236 shares during the period. Finally, 1620 Investment Advisors Inc. acquired a new stake in Sun Communities in the 2nd quarter valued at approximately $62,000. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Sun Communities Stock Down 1.7 %

Shares of NYSE:SUI opened at $126.33 on Monday. Sun Communities, Inc. has a fifty-two week low of $110.98 and a fifty-two week high of $147.83. The firm’s 50 day moving average price is $130.92 and its 200 day moving average price is $127.93. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. The stock has a market cap of $16.09 billion, a price-to-earnings ratio of 67.92, a price-to-earnings-growth ratio of 0.53 and a beta of 0.91.

Sun Communities (NYSE:SUI) last announced its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). The firm had revenue of $939.90 million during the quarter, compared to analyst estimates of $980.41 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. Sun Communities’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.57 earnings per share. As a group, equities research analysts predict that Sun Communities, Inc. will post 6.78 earnings per share for the current fiscal year.

Sun Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.76 annualized dividend and a dividend yield of 2.98%. Sun Communities’s dividend payout ratio is currently 202.15%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Royal Bank of Canada decreased their price target on Sun Communities from $147.00 to $135.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Bank of America lowered Sun Communities from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $147.00 to $114.00 in a research note on Tuesday, November 12th. Robert W. Baird cut Sun Communities from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $145.00 to $126.00 in a report on Thursday, November 7th. BMO Capital Markets cut their price target on shares of Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Finally, Baird R W cut shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Sun Communities presently has a consensus rating of “Hold” and a consensus 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.