Cbre Investment Management Listed Real Assets LLC Decreases Stake in Sun Communities, Inc. (NYSE:SUI)

Cbre Investment Management Listed Real Assets LLC reduced its stake in Sun Communities, Inc. (NYSE:SUI) by 34.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 814,110 shares of the real estate investment trust’s stock after selling 432,966 shares during the quarter. Sun Communities comprises about 1.8% of Cbre Investment Management Listed Real Assets LLC’s portfolio, making the stock its 15th largest holding. Cbre Investment Management Listed Real Assets LLC owned about 0.64% of Sun Communities worth $100,111,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of SUI. Assetmark Inc. raised its position in shares of Sun Communities by 2,111.1% in the 3rd quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 190 shares during the last quarter. Brooklyn Investment Group purchased a new position in Sun Communities during the 3rd quarter worth approximately $41,000. Smartleaf Asset Management LLC raised its position in Sun Communities by 45.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 124 shares during the last quarter. CKW Financial Group raised its position in Sun Communities by 45.0% during the 4th quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 135 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in Sun Communities during the 3rd quarter worth approximately $60,000. 99.59% of the stock is owned by hedge funds and other institutional investors.

Sun Communities Price Performance

Sun Communities stock opened at $132.76 on Wednesday. The company’s fifty day moving average price is $126.22 and its 200 day moving average price is $129.65. Sun Communities, Inc. has a 1 year low of $110.98 and a 1 year high of $147.83. The stock has a market capitalization of $16.91 billion, a P/E ratio of 71.38 and a beta of 0.90. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61.

Sun Communities (NYSE:SUI) last released its quarterly earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $745.90 million for the quarter, compared to analysts’ expectations of $724.68 million. As a group, equities research analysts anticipate that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SUI. UBS Group lowered 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. Baird R W lowered shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Truist Financial raised shares of Sun Communities from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. BMO Capital Markets dropped their price objective 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, Jefferies Financial Group dropped their price objective on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $134.55.

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.