Sun Communities, Inc. (NYSE:SUI) Shares Sold by KBC Group NV

KBC Group NV trimmed its stake in Sun Communities, Inc. (NYSE:SUI) by 62.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 41,748 shares of the real estate investment trust’s stock after selling 68,191 shares during the quarter. KBC Group NV’s holdings in Sun Communities were worth $5,134,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of SUI. Blue Trust Inc. lifted its position in Sun Communities by 86.2% in the 4th quarter. Blue Trust Inc. now owns 1,164 shares of the real estate investment trust’s stock valued at $157,000 after purchasing an additional 539 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Sun Communities by 18.0% during the fourth quarter. Fifth Third Bancorp now owns 6,544 shares of the real estate investment trust’s stock valued at $805,000 after buying an additional 996 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Sun Communities by 20.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,559 shares of the real estate investment trust’s stock worth $192,000 after buying an additional 267 shares during the period. Cetera Trust Company N.A grew its holdings in Sun Communities by 6.0% in the 4th quarter. Cetera Trust Company N.A now owns 1,865 shares of the real estate investment trust’s stock worth $229,000 after buying an additional 105 shares in the last quarter. Finally, Aurora Investment Managers LLC. increased its position in Sun Communities by 9.7% in the 4th quarter. Aurora Investment Managers LLC. now owns 27,490 shares of the real estate investment trust’s stock valued at $3,380,000 after acquiring an additional 2,435 shares during the period. Institutional investors and hedge funds own 99.59% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Royal Bank of Canada reduced their price target on Sun Communities from $147.00 to $135.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. UBS Group lowered shares of Sun Communities from a “buy” rating to a “neutral” rating and decreased their target price for the company from $155.00 to $134.00 in a research report on Thursday, November 14th. Evercore ISI boosted their price target on shares of Sun Communities from $149.00 to $150.00 and gave the stock an “in-line” rating in a research report on Monday, October 21st. Truist Financial upgraded shares of Sun Communities from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Finally, StockNews.com downgraded Sun Communities from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. 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. Based on data from MarketBeat.com, Sun Communities currently has an average rating of “Hold” and an average price target of $134.55.

Sun Communities Trading Up 1.3 %

Sun Communities stock opened at $125.87 on Friday. Sun Communities, Inc. has a 52 week low of $110.98 and a 52 week high of $147.83. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. The firm has a market capitalization of $16.03 billion, a price-to-earnings ratio of 67.67, a P/E/G ratio of 0.51 and a beta of 0.89. The company has a 50 day moving average price of $124.61 and a 200 day moving average price of $129.61.

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 the consensus estimate of $2.51 by ($0.20). The business had revenue of $939.90 million during the quarter, compared to analyst estimates of $980.41 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The business’s quarterly revenue was down 4.4% on a year-over-year basis. During the same period last year, the business earned $2.57 EPS. Research analysts forecast that Sun Communities, Inc. will post 6.78 EPS for the current year.

Sun Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend was Tuesday, December 31st. Sun Communities’s dividend payout ratio (DPR) 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.