Sun Communities, Inc. (NYSE:SUI) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC trimmed its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 9.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,309 shares of the real estate investment trust’s stock after selling 3,430 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Sun Communities were worth $3,883,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SUI. Assetmark Inc. increased its position in Sun Communities by 2,111.1% in the third quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 190 shares during the period. Brooklyn Investment Group acquired a new stake in shares of Sun Communities in the 3rd quarter worth about $41,000. Point72 Hong Kong Ltd bought a new stake in Sun Communities in the 3rd quarter valued at about $60,000. Farther Finance Advisors LLC boosted its stake in Sun Communities by 89.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock valued at $68,000 after purchasing an additional 236 shares during the period. Finally, Blue Trust Inc. grew its position in Sun Communities by 230.7% in the 3rd quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock worth $84,000 after purchasing an additional 436 shares during the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Wall Street Analysts Forecast Growth

SUI has been the subject of several analyst reports. Robert W. Baird downgraded Sun Communities from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $145.00 to $126.00 in a research report on Thursday, November 7th. Bank of America lowered Sun Communities from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $147.00 to $114.00 in a research report on Tuesday, November 12th. UBS Group cut Sun Communities from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $155.00 to $134.00 in a research note on Thursday, November 14th. BMO Capital Markets cut their price objective on shares of Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Finally, Jefferies Financial Group decreased their target price on shares of 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 research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $135.69.

Sun Communities Stock Up 1.0 %

SUI stock opened at $127.39 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. The firm has a market cap of $16.23 billion, a PE ratio of 68.49, a P/E/G ratio of 0.51 and a beta of 0.89. Sun Communities, Inc. has a 12 month low of $110.98 and a 12 month high of $147.83. The firm has a 50 day simple moving average of $124.52 and a 200 day simple moving average of $129.41.

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

Sun Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend was Tuesday, December 31st. Sun Communities’s dividend payout ratio is presently 202.15%.

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.