Charles Schwab Investment Management Inc. Has $145.36 Million Holdings in Sun Communities, Inc. (NYSE:SUI)

Charles Schwab Investment Management Inc. lifted its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 0.3% during the third quarter, Holdings Channel.com reports. The firm owned 1,075,541 shares of the real estate investment trust’s stock after buying an additional 3,254 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Sun Communities were worth $145,359,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. PGGM Investments lifted its holdings in Sun Communities by 159.9% during the 2nd quarter. PGGM Investments now owns 1,246,739 shares of the real estate investment trust’s stock worth $150,033,000 after buying an additional 767,126 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Sun Communities by 24.0% during the second quarter. Daiwa Securities Group Inc. now owns 2,195,884 shares of the real estate investment trust’s stock worth $264,253,000 after acquiring an additional 424,842 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of Sun Communities by 199.1% during the second quarter. Hsbc Holdings PLC now owns 358,284 shares of the real estate investment trust’s stock valued at $42,754,000 after acquiring an additional 238,498 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Sun Communities by 3.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,949,862 shares of the real estate investment trust’s stock valued at $354,986,000 after acquiring an additional 111,569 shares during the last quarter. Finally, Manning & Napier Advisors LLC acquired a new stake in Sun Communities in the second quarter worth about $13,164,000. 99.59% of the stock is owned by institutional investors.

Sun Communities Trading Down 0.8 %

NYSE SUI opened at $127.46 on Monday. Sun Communities, Inc. has a 52 week low of $110.98 and a 52 week high of $147.83. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. The stock’s 50 day moving average price is $132.51 and its two-hundred day moving average price is $127.57. The stock has a market capitalization of $16.24 billion, a price-to-earnings ratio of 68.53, a PEG ratio of 0.54 and a beta of 0.91.

Sun Communities (NYSE:SUI) last announced its earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.20). Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The business had revenue of $939.90 million for the quarter, compared to analyst estimates of $980.41 million. During the same quarter in the previous year, the company posted $2.57 EPS. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, analysts anticipate that Sun Communities, Inc. will post 6.78 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date was Monday, September 30th. Sun Communities’s dividend payout ratio is currently 202.15%.

Wall Street Analyst Weigh In

SUI has been the topic of a number of recent analyst reports. Jefferies Financial Group initiated coverage on Sun Communities in a report on Thursday, October 17th. They set a “buy” rating and a $160.00 target price on the stock. Royal Bank of Canada cut their target price on shares of Sun Communities from $147.00 to $135.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. BMO Capital Markets lowered their price objective on shares of Sun Communities from $145.00 to $138.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Bank of America downgraded Sun Communities from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $147.00 to $114.00 in a research note on Tuesday, November 12th. Finally, Baird R W cut Sun Communities from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $139.08.

Sun Communities 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.