Sun Communities, Inc. (NYSE:SUI) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio reduced its position in Sun Communities, Inc. (NYSE:SUI) by 5.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 212,049 shares of the real estate investment trust’s stock after selling 11,464 shares during the period. Public Employees Retirement System of Ohio’s holdings in Sun Communities were worth $28,658,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Y Intercept Hong Kong Ltd grew its stake in Sun Communities by 84.4% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 12,806 shares of the real estate investment trust’s stock worth $1,731,000 after buying an additional 5,861 shares during the last quarter. Zimmer Partners LP purchased a new stake in shares of Sun Communities during the third quarter worth about $5,068,000. Quadrature Capital Ltd acquired a new position in shares of Sun Communities during the third quarter valued at about $2,386,000. Quantinno Capital Management LP raised its position in shares of Sun Communities by 22.0% in the 3rd quarter. Quantinno Capital Management LP now owns 7,695 shares of the real estate investment trust’s stock valued at $1,040,000 after purchasing an additional 1,390 shares during the last quarter. Finally, Point72 DIFC Ltd purchased a new position in shares of Sun Communities in the 3rd quarter valued at approximately $1,381,000. 99.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SUI has been the subject of a number of research analyst reports. Truist Financial raised their price target 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. StockNews.com cut Sun Communities from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Baird R W lowered Sun Communities from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. UBS Group cut 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 research note on Thursday, November 14th. Finally, Bank of America lowered Sun Communities from a “neutral” rating to an “underperform” rating and dropped their target price 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 assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Sun Communities currently has an average rating of “Hold” and a consensus target price of $139.08.

Sun Communities Stock Down 0.1 %

SUI stock opened at $124.54 on Tuesday. The firm’s fifty day moving average is $129.59 and its 200 day moving average is $128.12. The firm has a market cap of $15.87 billion, a PE ratio of 66.96, a P/E/G ratio of 0.52 and a beta of 0.88. Sun Communities, Inc. has a one year low of $110.98 and a one year high of $147.83. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61.

Sun Communities (NYSE:SUI) last announced 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 during the quarter, compared to analysts’ expectations of $980.41 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. Sun Communities’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.57 EPS. On average, research analysts forecast that Sun Communities, Inc. will post 6.78 EPS for the current year.

Sun Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.94 per share. The ex-dividend date is Tuesday, December 31st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.02%. Sun Communities’s dividend payout ratio (DPR) is 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.