Sun Communities, Inc. (NYSE:SUI) Shares Sold by Penserra Capital Management LLC

Penserra Capital Management LLC reduced its position in shares of Sun Communities, Inc. (NYSE:SUI) by 2.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,777 shares of the real estate investment trust’s stock after selling 130 shares during the period. Penserra Capital Management LLC’s holdings in Sun Communities were worth $780,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Assetmark Inc. increased its holdings in Sun Communities by 2,111.1% during the 3rd quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 190 shares during the period. Quest Partners LLC increased its position in Sun Communities by 12,700.0% during the second quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 381 shares during the period. Farther Finance Advisors LLC lifted its stake in Sun Communities by 89.1% in the third quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock valued at $68,000 after buying an additional 236 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new stake in Sun Communities during the 2nd quarter worth $62,000. Finally, Blue Trust Inc. raised its holdings in shares of Sun Communities by 230.7% in the third quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock valued at $84,000 after buying an additional 436 shares during the last quarter. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SUI. BMO Capital Markets dropped their price target on Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Wells Fargo & Company increased their price target on shares of Sun Communities from $123.00 to $154.00 and gave the company an “equal weight” rating in a report on Thursday, September 19th. Evercore ISI boosted their price target on Sun Communities from $149.00 to $150.00 and gave the stock an “in-line” rating in a research note on Monday, October 21st. UBS Group lowered Sun Communities from a “buy” rating to a “neutral” rating and lowered their target price for the company from $155.00 to $134.00 in a report on Thursday, November 14th. Finally, StockNews.com lowered shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Sun Communities currently has a consensus rating of “Hold” and an average price target of $139.08.

Sun Communities Price Performance

SUI opened at $128.59 on Thursday. The stock has a market capitalization of $16.38 billion, a PE ratio of 69.13, a P/E/G ratio of 0.54 and a beta of 0.91. The company’s 50 day simple moving average is $131.53 and its 200 day simple moving average is $127.72. Sun Communities, Inc. has a 1 year low of $110.98 and a 1 year 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.

Sun Communities (NYSE:SUI) last posted its quarterly earnings results 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). The firm had revenue of $939.90 million for the quarter, compared to analysts’ expectations of $980.41 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. Sun Communities’s revenue was down 4.4% on a year-over-year basis. During the same period last year, the firm posted $2.57 EPS. As a group, sell-side analysts expect that Sun Communities, Inc. will post 6.78 EPS for the current year.

Sun Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.94 dividend. The ex-dividend date was Monday, September 30th. This represents a $3.76 annualized dividend and a yield of 2.92%. Sun Communities’s payout ratio 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.