Inspire Investing LLC Sells 1,256 Shares of Sun Communities, Inc. (NYSE:SUI)

Inspire Investing LLC reduced its position in shares of Sun Communities, Inc. (NYSE:SUI) by 8.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,368 shares of the real estate investment trust’s stock after selling 1,256 shares during the quarter. Inspire Investing LLC’s holdings in Sun Communities were worth $1,644,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. FMR LLC raised its position in Sun Communities by 37.6% in the 3rd quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust’s stock valued at $707,329,000 after buying an additional 1,430,630 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Sun Communities by 1,061.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,323,479 shares of the real estate investment trust’s stock valued at $178,868,000 after purchasing an additional 1,209,522 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Sun Communities by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,075,541 shares of the real estate investment trust’s stock valued at $145,359,000 after purchasing an additional 3,254 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of Sun Communities by 58.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 959,879 shares of the real estate investment trust’s stock worth $129,728,000 after buying an additional 355,427 shares during the last quarter. Finally, Adelante Capital Management LLC raised its stake in shares of Sun Communities by 168.7% during the 3rd quarter. Adelante Capital Management LLC now owns 559,129 shares of the real estate investment trust’s stock worth $75,566,000 after purchasing an additional 351,017 shares during the period. 99.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SUI has been the subject of several research reports. Robert W. Baird lowered Sun Communities from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $145.00 to $126.00 in a report on Thursday, November 7th. Evercore ISI upped their target price on Sun Communities from $149.00 to $150.00 and gave the stock an “in-line” rating in a research note on Monday, October 21st. Bank of America cut shares of Sun Communities from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $147.00 to $114.00 in a report on Tuesday, November 12th. Wells Fargo & Company lowered their price objective on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Finally, Jefferies Financial Group dropped their price target on Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Sun Communities currently has an average rating of “Hold” and a consensus target price of $135.69.

Sun Communities Trading Down 2.3 %

Shares of SUI stock opened at $125.13 on Thursday. The stock has a market capitalization of $15.94 billion, a P/E ratio of 67.27, a P/E/G ratio of 0.52 and a beta of 0.89. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. Sun Communities, Inc. has a 12-month low of $110.98 and a 12-month high of $147.83. The firm’s 50 day moving average is $124.43 and its 200 day moving average is $129.36.

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

Sun Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 3.00%. The ex-dividend date was Tuesday, December 31st. Sun Communities’s dividend payout ratio (DPR) is currently 202.15%.

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.