Sun Communities, Inc. (NYSE:SUI) Stock Position Lowered by Naviter Wealth LLC

Naviter Wealth LLC lowered its position in shares of Sun Communities, Inc. (NYSE:SUI) by 22.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,961 shares of the real estate investment trust’s stock after selling 1,975 shares during the quarter. Naviter Wealth LLC’s holdings in Sun Communities were worth $863,000 at the end of the most recent quarter.

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

Sun Communities Stock Performance

Shares of SUI opened at $133.60 on Friday. The company has a market capitalization of $17.02 billion, a PE ratio of 71.83 and a beta of 0.90. 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 company’s 50 day moving average price is $126.73 and its 200 day moving average price is $129.69. Sun Communities, Inc. has a 52 week low of $110.98 and a 52 week high of $147.83.

Sun Communities (NYSE:SUI) last posted its quarterly earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 EPS for the quarter, beating the consensus estimate of $1.39 by $0.02. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The business had revenue of $745.90 million for the quarter, compared to analysts’ expectations of $724.68 million. Research analysts expect that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Analysts Set New Price Targets

SUI has been the subject of several research reports. StockNews.com lowered Sun Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Truist Financial upgraded Sun Communities from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Jefferies Financial Group cut their price objective on Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Bank of America cut shares of Sun Communities from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $147.00 to $114.00 in a report on Tuesday, November 12th. Finally, UBS Group downgraded shares of Sun Communities from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $155.00 to $134.00 in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $134.55.

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.