CIBC Asset Management Inc Has $595,000 Holdings in Sun Communities, Inc. (NYSE:SUI)

CIBC Asset Management Inc boosted its holdings in Sun Communities, Inc. (NYSE:SUI) by 5.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 4,401 shares of the real estate investment trust’s stock after acquiring an additional 228 shares during the period. CIBC Asset Management Inc’s holdings in Sun Communities were worth $595,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of SUI. Bristlecone Advisors LLC raised its position in shares of Sun Communities by 2.4% in the second quarter. Bristlecone Advisors LLC now owns 3,655 shares of the real estate investment trust’s stock valued at $440,000 after buying an additional 85 shares in the last quarter. Toronto Dominion Bank raised its holdings in Sun Communities by 0.8% in the 2nd quarter. Toronto Dominion Bank now owns 11,916 shares of the real estate investment trust’s stock valued at $1,434,000 after acquiring an additional 98 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Sun Communities by 15.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 762 shares of the real estate investment trust’s stock valued at $92,000 after acquiring an additional 102 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Sun Communities by 1.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 7,034 shares of the real estate investment trust’s stock worth $846,000 after purchasing an additional 115 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Sun Communities by 2.8% in the second quarter. Fifth Third Bancorp now owns 5,179 shares of the real estate investment trust’s stock worth $623,000 after purchasing an additional 142 shares during the period. Institutional investors own 99.59% of the company’s stock.

Analyst Ratings Changes

SUI has been the subject of several recent analyst reports. Jefferies Financial Group initiated coverage on shares of Sun Communities in a research report on Thursday, October 17th. They set a “buy” rating and a $160.00 price objective for the company. UBS Group lowered shares of Sun Communities from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $155.00 to $134.00 in a research report on Thursday, November 14th. Baird R W downgraded shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Truist Financial raised their target price on Sun Communities from $127.00 to $138.00 and gave the company a “hold” rating in a report on Tuesday, August 13th. Finally, Robert W. Baird downgraded Sun Communities from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $145.00 to $126.00 in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $139.08.

Sun Communities Price Performance

Shares of NYSE SUI opened at $126.23 on Thursday. The company has a market capitalization of $16.08 billion, a PE ratio of 67.87, a P/E/G ratio of 0.53 and a beta of 0.91. 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, Inc. has a twelve month low of $110.98 and a twelve month high of $147.83. The firm has a fifty day simple moving average of $133.55 and a 200 day simple moving average of $127.33.

Sun Communities (NYSE:SUI) last announced its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The business had revenue of $939.90 million during the quarter, compared to analyst estimates of $980.41 million. During the same period in the prior year, the firm earned $2.57 earnings per share. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. On average, sell-side analysts forecast that Sun Communities, Inc. will post 6.78 EPS for the current year.

Sun Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend was Monday, September 30th. Sun Communities’s dividend payout ratio (DPR) is 202.15%.

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.