Sun Communities, Inc. (NYSE:SUI) Shares Sold by Gotham Asset Management LLC

Gotham Asset Management LLC decreased its holdings in Sun Communities, Inc. (NYSE:SUI) by 11.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,050 shares of the real estate investment trust’s stock after selling 5,293 shares during the quarter. Gotham Asset Management LLC’s holdings in Sun Communities were worth $4,925,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Ethic Inc. boosted its position in shares of Sun Communities by 13.3% in the 4th quarter. Ethic Inc. now owns 7,346 shares of the real estate investment trust’s stock worth $903,000 after purchasing an additional 863 shares in the last quarter. Deutsche Bank AG grew its stake in Sun Communities by 398.5% during the 4th quarter. Deutsche Bank AG now owns 791,003 shares of the real estate investment trust’s stock valued at $97,270,000 after purchasing an additional 632,331 shares during the last quarter. Cresset Asset Management LLC increased its holdings in shares of Sun Communities by 13.7% in the fourth quarter. Cresset Asset Management LLC now owns 3,830 shares of the real estate investment trust’s stock valued at $474,000 after purchasing an additional 461 shares during the period. BROOKFIELD Corp ON purchased a new position in shares of Sun Communities in the fourth quarter worth about $8,420,000. Finally, Captrust Financial Advisors raised its stake in shares of Sun Communities by 3.7% in the fourth quarter. Captrust Financial Advisors now owns 3,627 shares of the real estate investment trust’s stock worth $446,000 after purchasing an additional 128 shares during the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Stock Down 0.4%

Shares of SUI stock opened at $124.58 on Wednesday. The stock has a 50 day moving average of $125.77 and a 200 day moving average of $126.20. 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 has a market cap of $15.90 billion, a P/E ratio of 66.98 and a beta of 0.86. Sun Communities, Inc. has a twelve month low of $109.22 and a twelve month high of $147.83.

Sun Communities (NYSE:SUI) last announced its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.08. The company had revenue of $470.20 million during the quarter, compared to analysts’ expectations of $538.63 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. Sun Communities’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the business earned $1.19 earnings per share. As a group, sell-side analysts expect that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 3.02%. The ex-dividend date was Monday, March 31st. Sun Communities’s dividend payout ratio is currently 606.45%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SUI. Bank of America lifted their target price on Sun Communities from $124.00 to $132.00 and gave the stock an “underperform” rating in a report on Monday. Royal Bank of Canada decreased their target price on Sun Communities from $154.00 to $147.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. JMP Securities reaffirmed a “market outperform” rating and set a $140.00 target price (down previously from $150.00) on shares of Sun Communities in a report on Monday, April 21st. Jefferies Financial Group began coverage on Sun Communities in a report on Tuesday, April 8th. They set a “buy” rating and a $150.00 target price for the company. Finally, Robert W. Baird decreased their target price on Sun Communities from $128.00 to $126.00 and set a “neutral” rating for the company in a report on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $138.70.

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.