Sun Communities, Inc. (NYSE:SUI) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 7.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 72,406 shares of the real estate investment trust’s stock after selling 6,064 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Sun Communities were worth $9,786,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Assetmark Inc. grew its holdings in shares of 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 position in Sun Communities during the 3rd quarter worth approximately $41,000. Quest Partners LLC increased its position in Sun Communities by 12,700.0% during the second quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 381 shares during the period. Farther Finance Advisors LLC increased its position in Sun Communities by 89.1% during the third quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock worth $68,000 after buying an additional 236 shares during the period. Finally, 1620 Investment Advisors Inc. purchased a new stake in Sun Communities in the second quarter valued at approximately $62,000. 99.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SUI has been the topic of a number of recent research reports. StockNews.com cut shares of Sun Communities from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. UBS Group lowered shares of Sun Communities from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $155.00 to $134.00 in a research note on Thursday, November 14th. BMO Capital Markets reduced their target price on shares of Sun Communities from $145.00 to $138.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Baird R W lowered Sun Communities from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Evercore ISI boosted their price target on Sun Communities from $149.00 to $150.00 and gave the company an “in-line” rating in a research report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $139.08.

Sun Communities Price Performance

Shares of SUI opened at $126.33 on Monday. The firm has a market capitalization of $16.09 billion, a PE ratio of 67.92, a P/E/G ratio of 0.53 and a beta of 0.91. The stock’s 50 day moving average is $130.92 and its two-hundred day moving average is $127.93. Sun Communities, Inc. has a twelve month low of $110.98 and a twelve month high of $147.83. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93.

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 company had revenue of $939.90 million for the quarter, compared to analysts’ expectations of $980.41 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. Sun Communities’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.57 earnings per share. Research analysts anticipate that Sun Communities, Inc. will post 6.78 earnings per share for the current year.

Sun Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.94 per share. The ex-dividend date was Monday, September 30th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.98%. Sun Communities’s payout ratio is 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.