Sun Communities, Inc. (NYSE:SUI) Stock Holdings Lowered by Amalgamated Bank

Amalgamated Bank cut its position in Sun Communities, Inc. (NYSE:SUI) by 4.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,481 shares of the real estate investment trust’s stock after selling 276 shares during the quarter. Amalgamated Bank’s holdings in Sun Communities were worth $876,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp boosted its position in shares of Sun Communities by 10.8% during the third quarter. Van ECK Associates Corp now owns 56,904 shares of the real estate investment trust’s stock worth $7,913,000 after buying an additional 5,547 shares during the period. Farther Finance Advisors LLC raised 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 acquiring an additional 236 shares in the last quarter. First Trust Direct Indexing L.P. acquired a new position in Sun Communities during the 3rd quarter worth $235,000. abrdn plc grew its stake in shares of Sun Communities by 6.6% in the third quarter. abrdn plc now owns 62,674 shares of the real estate investment trust’s stock worth $8,470,000 after purchasing an additional 3,886 shares in the last quarter. Finally, Bristlecone Advisors LLC increased its holdings in shares of Sun Communities by 52.0% during the third quarter. Bristlecone Advisors LLC now owns 5,555 shares of the real estate investment trust’s stock valued at $751,000 after purchasing an additional 1,900 shares during the period. 99.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on SUI. UBS Group downgraded shares of Sun Communities from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $155.00 to $134.00 in a report on Thursday. Bank of America cut shares of Sun Communities from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $147.00 to $114.00 in a report on Tuesday. Robert W. Baird cut Sun Communities from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $145.00 to $126.00 in a report on Thursday, November 7th. Evercore ISI increased their price target on Sun Communities from $149.00 to $150.00 and gave the company an “in-line” rating in a research note on Monday, October 21st. Finally, Wells Fargo & Company boosted their price objective on Sun Communities from $123.00 to $154.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 19th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Sun Communities currently has a consensus rating of “Hold” and a consensus target price of $139.08.

Sun Communities Stock Performance

Shares of SUI opened at $124.08 on Friday. Sun Communities, Inc. has a one year low of $110.98 and a one year high of $147.83. The company has a 50-day moving average of $134.73 and a two-hundred day moving average of $126.98. 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 stock has a market cap of $15.81 billion, a price-to-earnings ratio of 67.28, a PEG ratio of 0.95 and a beta of 0.91.

Sun Communities (NYSE:SUI) last posted its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $2.31 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The firm 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 business posted $2.57 EPS. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. On average, equities research analysts expect that Sun Communities, Inc. will post 6.76 earnings per share for the current year.

Sun Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 3.03%. The ex-dividend date was Monday, September 30th. Sun Communities’s payout ratio is 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.