Presima Securities ULC Sells 22,491 Shares of Sun Communities, Inc. (NYSE:SUI)

Presima Securities ULC lessened its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 20.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 87,862 shares of the real estate investment trust’s stock after selling 22,491 shares during the period. Sun Communities accounts for 2.7% of Presima Securities ULC’s portfolio, making the stock its 14th largest holding. Presima Securities ULC’s holdings in Sun Communities were worth $10,804,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the company. Aurora Investment Managers LLC. increased its stake in shares of Sun Communities by 9.7% in the fourth quarter. Aurora Investment Managers LLC. now owns 27,490 shares of the real estate investment trust’s stock worth $3,380,000 after purchasing an additional 2,435 shares during the period. Victory Capital Management Inc. increased its position in Sun Communities by 6.9% during the third quarter. Victory Capital Management Inc. now owns 77,203 shares of the real estate investment trust’s stock worth $10,434,000 after acquiring an additional 5,008 shares during the period. FMR LLC raised its stake in 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 during the last quarter. KBC Group NV grew its position in Sun Communities by 303.3% in the 3rd quarter. KBC Group NV now owns 109,939 shares of the real estate investment trust’s stock worth $14,858,000 after purchasing an additional 82,682 shares during the last quarter. Finally, AMG National Trust Bank bought a new position in shares of Sun Communities during the 3rd quarter worth about $1,690,000. Institutional investors own 99.59% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on SUI. Wells Fargo & Company cut their price target on Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. UBS Group downgraded shares of Sun Communities from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $155.00 to $134.00 in a research note on Thursday, November 14th. Truist Financial raised Sun Communities from a “hold” rating to a “buy” rating in a report on Friday, January 17th. 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. Finally, BMO Capital Markets reduced their target price on shares of Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $135.69.

Sun Communities Price Performance

Shares of SUI opened at $127.39 on Friday. The company has a 50 day moving average of $124.47 and a 200-day moving average of $129.34. 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 capitalization of $16.23 billion, a P/E ratio of 68.49, a P/E/G ratio of 0.51 and a beta of 0.89. Sun Communities, Inc. has a twelve month low of $110.98 and a twelve month high of $147.83.

Sun Communities (NYSE:SUI) last issued its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.20). The company had revenue of $939.90 million for 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%. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period last year, the company posted $2.57 earnings per share. As a group, equities research analysts forecast that Sun Communities, Inc. will post 6.78 EPS for the current fiscal year.

Sun Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.94 per share. The ex-dividend date was Tuesday, December 31st. This represents a $3.76 dividend on an annualized basis and a yield of 2.95%. Sun Communities’s payout ratio is 202.15%.

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.