Sun Communities, Inc. (NYSE:SUI) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its holdings in Sun Communities, Inc. (NYSE:SUI) by 5.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 63,547 shares of the real estate investment trust’s stock after selling 4,000 shares during the period. New York State Common Retirement Fund’s holdings in Sun Communities were worth $7,814,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. boosted its position in Sun Communities by 8.5% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,069 shares of the real estate investment trust’s stock valued at $131,000 after purchasing an additional 84 shares during the period. Cascade Investment Advisors Inc. increased its position in Sun Communities by 0.8% in the fourth quarter. Cascade Investment Advisors Inc. now owns 10,373 shares of the real estate investment trust’s stock worth $1,276,000 after buying an additional 85 shares during the period. Cetera Trust Company N.A grew its position in shares of Sun Communities by 6.0% during the fourth quarter. Cetera Trust Company N.A now owns 1,865 shares of the real estate investment trust’s stock worth $229,000 after acquiring an additional 105 shares during the last quarter. Avior Wealth Management LLC lifted its position in Sun Communities by 3.0% in the 3rd quarter. Avior Wealth Management LLC now owns 4,328 shares of the real estate investment trust’s stock valued at $585,000 after purchasing an additional 125 shares during the last quarter. Finally, CKW Financial Group boosted its stake in Sun Communities by 45.0% during the 4th quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 135 shares during the period. Institutional investors own 99.59% of the company’s stock.

Sun Communities Stock Performance

SUI opened at $133.81 on Thursday. The business has a fifty day simple moving average of $125.30 and a 200-day simple moving average of $129.55. The firm has a market cap of $17.05 billion, a PE ratio of 71.94 and a beta of 0.90. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. Sun Communities, Inc. has a fifty-two week low of $110.98 and a fifty-two week high of $147.83.

Sun Communities (NYSE:SUI) last posted its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. As a group, equities analysts predict that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date was Tuesday, December 31st. Sun Communities’s payout ratio is presently 202.15%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Royal Bank of Canada reduced their price objective 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. Truist Financial upgraded Sun Communities from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. BMO Capital Markets lowered their price target on Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Bank of America downgraded shares of Sun Communities from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $147.00 to $114.00 in a report on Tuesday, November 12th. Finally, Wells Fargo & Company decreased their target price on shares of 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. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $134.55.

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.