M&T Bank Corp Has $1.89 Million Position in Sun Communities, Inc. (NYSE:SUI)

M&T Bank Corp lessened its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 3.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,347 shares of the real estate investment trust’s stock after selling 550 shares during the period. M&T Bank Corp’s holdings in Sun Communities were worth $1,887,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Sun Communities by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,123,440 shares of the real estate investment trust’s stock valued at $138,149,000 after buying an additional 47,899 shares during the period. Jones Financial Companies Lllp boosted its stake in Sun Communities by 51.9% in the 4th quarter. Jones Financial Companies Lllp now owns 1,841 shares of the real estate investment trust’s stock worth $226,000 after purchasing an additional 629 shares during the period. Smartleaf Asset Management LLC boosted its stake in 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 worth $49,000 after purchasing an additional 124 shares during the period. Levin Capital Strategies L.P. bought a new position in Sun Communities during the 4th quarter worth about $615,000. Finally, Metis Global Partners LLC raised its stake in shares of Sun Communities by 10.9% in the 4th quarter. Metis Global Partners LLC now owns 15,124 shares of the real estate investment trust’s stock valued at $1,860,000 after purchasing an additional 1,484 shares during the period. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Sun Communities Stock Up 1.7 %

Sun Communities stock opened at $133.60 on Monday. 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 company’s 50-day moving average is $126.73 and its 200-day moving average is $129.67. The firm has a market capitalization of $17.02 billion, a PE ratio of 71.83 and a beta of 0.90. Sun Communities, Inc. has a fifty-two week low of $110.98 and a fifty-two week high of $147.83.

Sun Communities (NYSE:SUI) last announced its quarterly earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The firm had revenue of $745.90 million for the quarter, compared to the consensus estimate of $724.68 million. Sell-side analysts anticipate that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SUI. UBS Group cut Sun Communities from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $155.00 to $134.00 in a research report on Thursday, November 14th. Truist Financial raised Sun Communities from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Jefferies Financial Group decreased their price target on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Bank of America lowered shares of Sun Communities from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $147.00 to $114.00 in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company decreased their target price on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $134.55.

Sun Communities Company 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.