Sun Communities, Inc. (NYSE:SUI) Stock Position Lowered by Barclays PLC

Barclays PLC lowered its position in shares of Sun Communities, Inc. (NYSE:SUI) by 19.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 127,286 shares of the real estate investment trust’s stock after selling 30,447 shares during the period. Barclays PLC’s holdings in Sun Communities were worth $17,201,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. FMR LLC boosted its position in shares of Sun Communities by 37.6% during the 3rd quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust’s stock valued at $707,329,000 after purchasing an additional 1,430,630 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Sun Communities by 3.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,949,862 shares of the real estate investment trust’s stock valued at $354,986,000 after purchasing an additional 111,569 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in Sun Communities by 24.0% during the second quarter. Daiwa Securities Group Inc. now owns 2,195,884 shares of the real estate investment trust’s stock worth $264,253,000 after buying an additional 424,842 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Sun Communities by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,784,547 shares of the real estate investment trust’s stock worth $214,752,000 after buying an additional 10,592 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Sun Communities by 1,061.4% in 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 valued at $178,868,000 after buying an additional 1,209,522 shares in the last quarter. 99.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on SUI. StockNews.com lowered Sun Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Bank of America lowered 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. Evercore ISI boosted their price objective on Sun Communities from $149.00 to $150.00 and gave the stock an “in-line” rating in a report on Monday, October 21st. UBS Group cut shares of Sun Communities from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $155.00 to $134.00 in a report on Thursday, November 14th. Finally, Jefferies Financial Group began coverage on shares of Sun Communities in a report on Thursday, October 17th. They set a “buy” rating and a $160.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Sun Communities presently has an average rating of “Hold” and an average target price of $137.08.

Sun Communities Trading Down 0.8 %

Shares of NYSE:SUI opened at $122.20 on Friday. The firm has a fifty day moving average of $128.82 and a two-hundred day moving average of $128.20. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. Sun Communities, Inc. has a 12-month low of $110.98 and a 12-month high of $147.83. The firm has a market capitalization of $15.57 billion, a P/E ratio of 65.70, a price-to-earnings-growth ratio of 0.51 and a beta of 0.88.

Sun Communities (NYSE:SUI) last issued its earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The firm had revenue of $939.90 million during the quarter, compared to analysts’ expectations of $980.41 million. During the same quarter last year, the firm earned $2.57 EPS. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. On average, equities analysts expect that Sun Communities, Inc. will post 6.78 EPS for the current fiscal year.

Sun Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend is Tuesday, December 31st. 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.