Sun Communities, Inc. (NYSE:SUI) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. trimmed its position in Sun Communities, Inc. (NYSE:SUI) by 11.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 47,671 shares of the real estate investment trust’s stock after selling 6,429 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Sun Communities were worth $6,443,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SUI. Bristlecone Advisors LLC lifted its stake in shares of Sun Communities by 2.4% in the second quarter. Bristlecone Advisors LLC now owns 3,655 shares of the real estate investment trust’s stock worth $440,000 after buying an additional 85 shares in the last quarter. Toronto Dominion Bank lifted its stake in Sun Communities by 0.8% in the 2nd quarter. Toronto Dominion Bank now owns 11,916 shares of the real estate investment trust’s stock worth $1,434,000 after purchasing an additional 98 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Sun Communities by 15.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 762 shares of the real estate investment trust’s stock worth $92,000 after purchasing an additional 102 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Sun Communities by 1.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 7,034 shares of the real estate investment trust’s stock worth $846,000 after purchasing an additional 115 shares during the last quarter. Finally, Fifth Third Bancorp grew its position in shares of Sun Communities by 2.8% in the second quarter. Fifth Third Bancorp now owns 5,179 shares of the real estate investment trust’s stock valued at $623,000 after purchasing an additional 142 shares in the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SUI shares. UBS Group downgraded Sun Communities from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $155.00 to $134.00 in a research report on Thursday. Bank of America lowered Sun Communities from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $147.00 to $114.00 in a report on Tuesday. Royal Bank of Canada dropped their price objective on shares of Sun Communities from $147.00 to $135.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Baird R W downgraded shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Evercore ISI increased their price target on shares of Sun Communities from $149.00 to $150.00 and gave the company an “in-line” rating in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $139.08.

Sun Communities Stock Down 1.4 %

Shares of NYSE:SUI opened at $124.08 on Friday. 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 $134.73 and its 200 day moving average price is $126.98. 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 $15.81 billion, a price-to-earnings ratio of 66.71, 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 EPS 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 analysts’ expectations of $980.41 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.57 earnings per share. As a group, equities research analysts predict that Sun Communities, Inc. will post 6.75 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.94 dividend. The ex-dividend date was Monday, September 30th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.03%. Sun Communities’s payout ratio is currently 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.