American Assets Capital Advisers LLC Lowers Position in Sun Communities, Inc. (NYSE:SUI)

American Assets Capital Advisers LLC decreased its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 19.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,555 shares of the real estate investment trust’s stock after selling 6,639 shares during the period. Sun Communities accounts for 1.1% of American Assets Capital Advisers LLC’s portfolio, making the stock its 23rd largest position. American Assets Capital Advisers LLC’s holdings in Sun Communities were worth $3,388,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. FMR LLC increased its holdings in shares of Sun Communities by 37.6% during the 3rd quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust’s stock worth $707,329,000 after buying an additional 1,430,630 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in Sun Communities by 23.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 2,344,020 shares of the real estate investment trust’s stock worth $288,244,000 after acquiring an additional 442,557 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Sun Communities by 1,061.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,323,479 shares of the real estate investment trust’s stock worth $178,868,000 after acquiring an additional 1,209,522 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Sun Communities by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,123,440 shares of the real estate investment trust’s stock worth $138,149,000 after purchasing an additional 47,899 shares during the period. Finally, Westfield Capital Management Co. LP lifted its stake in shares of Sun Communities by 58.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 959,879 shares of the real estate investment trust’s stock valued at $129,728,000 after purchasing an additional 355,427 shares in the last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on SUI. Royal Bank of Canada restated an “outperform” rating on shares of Sun Communities in a report on Friday, February 28th. Wells Fargo & Company cut their target price 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. StockNews.com lowered shares of Sun Communities from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Truist Financial raised their price objective on Sun Communities from $136.00 to $142.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Finally, Jefferies Financial Group decreased their target price on Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $135.55.

Sun Communities Price Performance

SUI stock opened at $128.06 on Friday. The stock’s 50 day moving average is $127.27 and its two-hundred day moving average is $129.54. Sun Communities, Inc. has a 52-week low of $110.98 and a 52-week high of $147.83. The company has a market capitalization of $16.31 billion, a PE ratio of 68.85 and a beta of 0.90. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93.

Sun Communities (NYSE:SUI) last issued its quarterly earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $724.68 million. Analysts predict that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal 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.