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

Natixis Advisors LLC lowered its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 24.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,292 shares of the real estate investment trust’s stock after selling 15,529 shares during the period. Natixis Advisors LLC’s holdings in Sun Communities were worth $6,392,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Bristlecone Advisors LLC increased its stake in Sun Communities by 2.4% in the second quarter. Bristlecone Advisors LLC now owns 3,655 shares of the real estate investment trust’s stock valued at $440,000 after purchasing an additional 85 shares during the last quarter. Toronto Dominion Bank raised its position in Sun Communities by 0.8% in the second quarter. Toronto Dominion Bank now owns 11,916 shares of the real estate investment trust’s stock valued at $1,434,000 after purchasing an additional 98 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Sun Communities by 15.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 762 shares of the real estate investment trust’s stock worth $92,000 after buying an additional 102 shares during the period. Vanguard Personalized Indexing Management LLC grew its position in Sun Communities by 1.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 7,034 shares of the real estate investment trust’s stock valued at $846,000 after acquiring an additional 115 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in shares of Sun Communities by 2.8% during the second quarter. Fifth Third Bancorp now owns 5,179 shares of the real estate investment trust’s stock valued at $623,000 after purchasing an additional 142 shares during the period. 99.59% of the stock is owned by institutional investors and hedge funds.

Sun Communities Stock Down 0.8 %

Shares of Sun Communities stock opened at $127.45 on Friday. The stock has a market capitalization of $16.24 billion, a price-to-earnings ratio of 68.52, a PEG ratio of 0.53 and a beta of 0.91. Sun Communities, Inc. has a twelve month low of $110.98 and a twelve month high of $147.83. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. The business’s 50 day simple moving average is $132.51 and its 200-day simple moving average is $127.42.

Sun Communities (NYSE:SUI) last posted its 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). Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The company had revenue of $939.90 million during the quarter, compared to the consensus estimate of $980.41 million. During the same quarter in the previous year, the business posted $2.57 earnings per share. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. Equities research analysts forecast that Sun Communities, Inc. will post 6.78 earnings per share for the current year.

Sun Communities Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on SUI shares. Robert W. Baird downgraded shares of Sun Communities from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $145.00 to $126.00 in a research note on Thursday, November 7th. Baird R W downgraded Sun Communities from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Royal Bank of Canada cut their price target 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. Truist Financial raised their price objective on shares of Sun Communities from $127.00 to $138.00 and gave the stock a “hold” rating in a report on Tuesday, August 13th. Finally, BMO Capital Markets cut their target price 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. Two 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $139.08.

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.