Candriam S.C.A. Buys 1,798 Shares of Sun Communities, Inc. (NYSE:SUI)

Candriam S.C.A. grew its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 32.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,390 shares of the real estate investment trust’s stock after buying an additional 1,798 shares during the period. Candriam S.C.A.’s holdings in Sun Communities were worth $909,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of SUI. Freestone Capital Holdings LLC increased its position in Sun Communities by 25.1% in the fourth quarter. Freestone Capital Holdings LLC now owns 19,778 shares of the real estate investment trust’s stock worth $2,432,000 after purchasing an additional 3,969 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Sun Communities in the fourth quarter worth $16,051,000. Arizona State Retirement System increased its position in Sun Communities by 1.4% in the fourth quarter. Arizona State Retirement System now owns 36,210 shares of the real estate investment trust’s stock worth $4,453,000 after purchasing an additional 502 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Sun Communities in the fourth quarter worth $5,913,000. Finally, Charles Schwab Investment Management Inc. increased its position in Sun Communities by 4.5% in 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 purchasing an additional 47,899 shares during the last quarter. Institutional investors own 99.59% of the company’s stock.

Wall Street Analyst Weigh In

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

Sun Communities Stock Down 1.6 %

Shares of SUI opened at $131.50 on Tuesday. The firm has a market capitalization of $16.75 billion, a P/E ratio of 70.70 and a beta of 0.90. Sun Communities, Inc. has a 12-month low of $110.98 and a 12-month high of $147.83. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. The firm has a fifty day moving average price of $126.90 and a 200-day moving average price of $129.66.

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

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.