Sun Communities, Inc. (NYSE:SUI) Shares Sold by Cbre Investment Management Listed Real Assets LLC

Cbre Investment Management Listed Real Assets LLC lessened its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 34.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 814,110 shares of the real estate investment trust’s stock after selling 432,966 shares during the quarter. Sun Communities makes up about 1.8% of Cbre Investment Management Listed Real Assets LLC’s portfolio, making the stock its 15th biggest holding. Cbre Investment Management Listed Real Assets LLC’s holdings in Sun Communities were worth $100,111,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SUI. First Trust Direct Indexing L.P. purchased a new position in shares of Sun Communities during the 3rd quarter worth $235,000. Farther Finance Advisors LLC raised its holdings in shares of Sun Communities by 89.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock worth $68,000 after acquiring an additional 236 shares during the period. Van ECK Associates Corp raised its holdings in shares of Sun Communities by 10.8% during the 3rd quarter. Van ECK Associates Corp now owns 56,904 shares of the real estate investment trust’s stock worth $7,913,000 after acquiring an additional 5,547 shares during the period. Global Wealth Management Investment Advisory Inc. raised its holdings in shares of Sun Communities by 12.3% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 4,189 shares of the real estate investment trust’s stock worth $566,000 after acquiring an additional 458 shares during the period. Finally, Harvest Portfolios Group Inc. raised its holdings in shares of Sun Communities by 16.5% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 32,806 shares of the real estate investment trust’s stock worth $4,434,000 after acquiring an additional 4,639 shares during the period. Institutional investors and hedge funds own 99.59% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on SUI. Wells Fargo & Company reduced their price target on Sun Communities from $154.00 to $135.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 11th. 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, November 12th. Truist Financial upgraded shares of Sun Communities from a “hold” rating to a “buy” rating in a report on Friday, January 17th. StockNews.com lowered shares of Sun Communities from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Finally, Robert W. Baird lowered shares of Sun Communities from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $145.00 to $126.00 in a report on Thursday, November 7th. 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 stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $134.55.

Sun Communities Stock Performance

NYSE SUI opened at $132.76 on Wednesday. The company has a market cap of $16.91 billion, a P/E ratio of 71.38 and a beta of 0.90. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. The stock has a 50-day moving average of $126.22 and a two-hundred day moving average of $129.65. Sun Communities, Inc. has a 1-year low of $110.98 and a 1-year high of $147.83.

Sun Communities (NYSE:SUI) last released its earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.02. The company had revenue of $745.90 million during the quarter, compared to the consensus estimate of $724.68 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. As a group, analysts anticipate that Sun Communities, Inc. will post 6.77 EPS for the current year.

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.