Mutual of America Capital Management LLC Purchases 6,506 Shares of Sun Communities, Inc. (NYSE:SUI)

Mutual of America Capital Management LLC raised its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 58.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,679 shares of the real estate investment trust’s stock after purchasing an additional 6,506 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Sun Communities were worth $2,389,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Victory Capital Management Inc. increased its position in shares of Sun Communities by 6.9% during the third quarter. Victory Capital Management Inc. now owns 77,203 shares of the real estate investment trust’s stock worth $10,434,000 after acquiring an additional 5,008 shares in the last quarter. KBC Group NV raised its stake in shares of Sun Communities by 303.3% in the third quarter. KBC Group NV now owns 109,939 shares of the real estate investment trust’s stock worth $14,858,000 after purchasing an additional 82,682 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in shares of Sun Communities in the second quarter valued at approximately $13,164,000. Virtu Financial LLC purchased a new position in shares of Sun Communities during the first quarter valued at approximately $1,106,000. Finally, Swedbank AB bought a new stake in Sun Communities during the first quarter worth $13,660,000. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Price Performance

NYSE SUI opened at $127.46 on Friday. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. The company has a market cap of $16.24 billion, a PE ratio of 68.53, a price-to-earnings-growth ratio of 0.54 and a beta of 0.91. Sun Communities, Inc. has a 52 week low of $110.98 and a 52 week high of $147.83. The firm’s 50-day simple moving average is $132.51 and its two-hundred day simple moving average is $127.49.

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

Sun Communities Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. 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 report on Thursday, November 7th. Robert W. Baird cut shares of Sun Communities from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $145.00 to $126.00 in a report on Thursday, November 7th. Jefferies Financial Group started coverage on shares of Sun Communities in a research note on Thursday, October 17th. They issued a “buy” rating and a $160.00 price objective for the company. StockNews.com downgraded Sun Communities from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Bank of America downgraded Sun Communities from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $147.00 to $114.00 in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus 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.