Swiss National Bank Lowers Holdings in Sun Communities, Inc. (NYSE:SUI)

Swiss National Bank decreased its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 4.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 352,160 shares of the real estate investment trust’s stock after selling 17,700 shares during the quarter. Swiss National Bank owned about 0.28% of Sun Communities worth $43,305,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Assetmark Inc. raised its stake in Sun Communities by 2,111.1% during the third quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 190 shares during the last quarter. Brooklyn Investment Group purchased a new position in Sun Communities during the third quarter valued at $41,000. Smartleaf Asset Management LLC increased its holdings in shares of 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 in the last quarter. CKW Financial Group increased its holdings in shares of Sun Communities by 45.0% in the 4th quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 135 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Sun Communities in the 3rd quarter worth $60,000. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Sun Communities Stock Performance

Shares of SUI opened at $128.06 on Monday. The business has a fifty day moving average of $127.27 and a 200 day moving average of $129.52. Sun Communities, Inc. has a one year low of $110.98 and a one year high of $147.83. 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 firm has a market capitalization of $16.31 billion, a P/E ratio of 68.85 and a beta of 0.90.

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

Analysts Set New Price Targets

A number of research firms have commented on SUI. Jefferies Financial Group reduced their target price on Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Royal Bank of Canada reissued an “outperform” rating on shares of Sun Communities in a report on Friday, February 28th. StockNews.com lowered Sun Communities from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Truist Financial lifted their target price on Sun Communities from $136.00 to $142.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Finally, Wells Fargo & Company reduced their target price on Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Sun Communities has an average rating of “Hold” and an average price target of $135.55.

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.