Cetera Trust Company N.A Buys 105 Shares of Sun Communities, Inc. (NYSE:SUI)

Cetera Trust Company N.A grew its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 6.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 1,865 shares of the real estate investment trust’s stock after acquiring an additional 105 shares during the quarter. Cetera Trust Company N.A’s holdings in Sun Communities were worth $229,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. FMR LLC lifted its position in shares of Sun Communities by 37.6% during the 3rd quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust’s stock worth $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 lifted its position in shares of Sun Communities by 1,061.4% during the 3rd 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 worth $178,868,000 after buying 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 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,075,541 shares of the real estate investment trust’s stock worth $145,359,000 after buying an additional 3,254 shares during the last quarter. Westfield Capital Management Co. LP lifted its position in shares of Sun Communities by 58.8% during 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 lifted its position 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 buying an additional 351,017 shares during the last quarter. 99.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SUI shares. Wells Fargo & Company dropped their target price on Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. Robert W. Baird downgraded Sun Communities from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $145.00 to $126.00 in a research report on Thursday, November 7th. BMO Capital Markets dropped their target price on Sun Communities from $145.00 to $138.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Royal Bank of Canada dropped their target price on Sun Communities from $147.00 to $135.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Finally, StockNews.com downgraded Sun Communities from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Sun Communities has a consensus rating of “Hold” and a consensus price target of $135.69.

Sun Communities Trading Down 1.5 %

NYSE SUI opened at $126.07 on Wednesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. Sun Communities, Inc. has a one year low of $110.98 and a one year high of $147.83. The business has a 50 day simple moving average of $124.44 and a 200 day simple moving average of $129.39. The stock has a market capitalization of $16.06 billion, a P/E ratio of 67.83, a P/E/G ratio of 0.51 and a beta of 0.89.

Sun Communities (NYSE:SUI) last announced 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 net margin of 7.46% and a return on equity of 3.21%. The firm had revenue of $939.90 million during the quarter, compared to analyst estimates of $980.41 million. During the same period last year, the business posted $2.57 EPS. The company’s revenue was down 4.4% on a year-over-year basis. 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 announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.94 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.98%. Sun Communities’s dividend payout ratio is presently 202.15%.

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.