Sun Communities, Inc. (NYSE:SUI) Shares Sold by Amundi

Amundi lowered its stake in Sun Communities, Inc. (NYSE:SUI) by 33.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,603 shares of the real estate investment trust’s stock after selling 78,585 shares during the period. Amundi owned about 0.12% of Sun Communities worth $19,206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in SUI. Candriam S.C.A. increased its stake in shares of Sun Communities by 32.2% during the fourth quarter. Candriam S.C.A. now owns 7,390 shares of the real estate investment trust’s stock worth $909,000 after buying an additional 1,798 shares during the period. Freestone Capital Holdings LLC grew its holdings in Sun Communities by 25.1% during the 4th quarter. Freestone Capital Holdings LLC now owns 19,778 shares of the real estate investment trust’s stock worth $2,432,000 after acquiring an additional 3,969 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Sun Communities in the 4th quarter valued at approximately $16,051,000. Arizona State Retirement System raised its holdings in shares of Sun Communities by 1.4% in the 4th quarter. Arizona State Retirement System now owns 36,210 shares of the real estate investment trust’s stock valued at $4,453,000 after purchasing an additional 502 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Sun Communities during the 4th quarter worth $5,913,000. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Jefferies Financial Group dropped their target price on Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. StockNews.com lowered shares of Sun Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. UBS Group downgraded shares of 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. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Sun Communities in a research report on Friday, February 28th. Finally, Wells Fargo & Company cut their price target on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating on the stock in a research note 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $135.55.

Sun Communities Price Performance

Shares of SUI opened at $125.59 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. The stock’s 50 day moving average is $127.21 and its two-hundred day moving average is $129.60. Sun Communities, Inc. has a twelve month low of $110.98 and a twelve month high of $147.83. The firm has a market capitalization of $16.00 billion, a PE ratio of 67.52 and a beta of 0.90.

Sun Communities (NYSE:SUI) last posted its quarterly earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share for the quarter, beating 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. Research analysts anticipate that Sun Communities, Inc. will post 6.77 earnings per share 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.