BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 2,283 Shares of Sun Communities, Inc. (NYSE:SUI)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. reduced its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 29.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 5,466 shares of the real estate investment trust’s stock after selling 2,283 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Sun Communities were worth $658,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in Sun Communities in the fourth quarter valued at $576,397,000. Price T Rowe Associates Inc. MD raised its holdings in Sun Communities by 50.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,302,804 shares of the real estate investment trust’s stock worth $424,677,000 after acquiring an additional 1,105,306 shares in the last quarter. PGGM Investments boosted its position in Sun Communities by 159.9% during the second quarter. PGGM Investments now owns 1,246,739 shares of the real estate investment trust’s stock valued at $150,033,000 after purchasing an additional 767,126 shares during the last quarter. Waterfront Capital Partners LLC bought a new position in Sun Communities in the fourth quarter valued at approximately $42,762,000. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Sun Communities by 8.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,514,234 shares of the real estate investment trust’s stock worth $336,027,000 after purchasing an additional 201,325 shares during the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Sun Communities Stock Performance

Shares of SUI stock opened at $135.24 on Tuesday. Sun Communities, Inc. has a 52 week low of $102.74 and a 52 week high of $137.45. The company has a market capitalization of $16.86 billion, a price-to-earnings ratio of 116.59, a PEG ratio of 0.99 and a beta of 0.88. The company has a 50-day simple moving average of $126.45 and a 200 day simple moving average of $124.15. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.42 and a current ratio of 1.42.

Insiders Place Their Bets

In other news, CEO Baxter Underwood sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $131.43, for a total value of $394,290.00. Following the transaction, the chief executive officer now owns 63,462 shares of the company’s stock, valued at $8,340,810.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.89% of the company’s stock.

Analyst Upgrades and Downgrades

SUI has been the subject of several recent analyst reports. Evercore ISI increased their price objective on Sun Communities from $143.00 to $144.00 and gave the company an “outperform” rating in a report on Wednesday, August 28th. Truist Financial upped their price target on shares of Sun Communities from $127.00 to $138.00 and gave the stock a “hold” rating in a research report on Tuesday, August 13th. StockNews.com downgraded shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Finally, Royal Bank of Canada upped their target price on shares of Sun Communities from $131.00 to $137.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Sun Communities currently has a consensus rating of “Hold” and an average target price of $136.90.

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.