Sun Communities, Inc. (NYSE:SUI) Shares Sold by Nicola Wealth Management LTD.

Nicola Wealth Management LTD. reduced its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 91.8% in the 4th quarter, HoldingsChannel reports. The fund owned 8,684 shares of the real estate investment trust’s stock after selling 97,500 shares during the quarter. Nicola Wealth Management LTD.’s holdings in Sun Communities were worth $1,068,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SUI shares. BMO Capital Markets decreased their price objective on shares of Sun Communities from $145.00 to $138.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Jefferies Financial Group cut their price target on Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Truist Financial raised Sun Communities from a “hold” rating to a “buy” rating in a report on Friday, January 17th. UBS Group cut shares of Sun Communities from a “buy” rating to a “neutral” rating and cut their target price for the company from $155.00 to $134.00 in a report on Thursday, November 14th. Finally, Bank of America lowered shares of Sun Communities from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $147.00 to $114.00 in a research note on Tuesday, November 12th. Two investment 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. According to data from MarketBeat.com, Sun Communities presently has a consensus rating of “Hold” and an average target price of $134.55.

Sun Communities Trading Up 0.2 %

Shares of SUI stock opened at $136.44 on Tuesday. The stock has a market cap of $17.38 billion, a P/E ratio of 73.35 and a beta of 0.90. 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 fifty-two week low of $110.98 and a fifty-two week high of $147.83. The business has a fifty day simple moving average of $126.07 and a 200-day simple moving average of $129.64.

Sun Communities (NYSE:SUI) last announced its earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share (EPS) for the quarter, topping 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 company had revenue of $745.90 million during the quarter, compared to analysts’ expectations of $724.68 million. On average, analysts forecast that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

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.