Atria Investments Inc Sells 2,710 Shares of Sun Communities, Inc. (NYSE:SUI)

Atria Investments Inc decreased its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 39.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,107 shares of the real estate investment trust’s stock after selling 2,710 shares during the period. Atria Investments Inc’s holdings in Sun Communities were worth $505,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SUI. Legacy Trust bought a new position in shares of Sun Communities in the fourth quarter valued at approximately $625,000. Aurora Investment Managers LLC. raised its stake in shares of Sun Communities by 9.7% in the fourth quarter. Aurora Investment Managers LLC. now owns 27,490 shares of the real estate investment trust’s stock valued at $3,380,000 after acquiring an additional 2,435 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Sun Communities by 16.1% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 779,744 shares of the real estate investment trust’s stock valued at $95,885,000 after acquiring an additional 108,054 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Sun Communities by 6.9% in the third quarter. Victory Capital Management Inc. now owns 77,203 shares of the real estate investment trust’s stock valued at $10,434,000 after acquiring an additional 5,008 shares during the last quarter. Finally, VCI Wealth Management LLC bought a new position in shares of Sun Communities in the fourth quarter valued at approximately $1,312,000. Institutional investors own 99.59% of the company’s stock.

Analysts Set New Price Targets

SUI has been the subject of a number of research reports. Royal Bank of Canada reissued an “outperform” rating on shares of Sun Communities in a report on Friday, February 28th. Jefferies Financial Group decreased their price target on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Truist Financial boosted their price target on shares of Sun Communities from $136.00 to $142.00 and gave the company a “buy” rating in a report on Monday, March 10th. Wells Fargo & Company decreased their price target 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, StockNews.com lowered shares of Sun Communities from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $135.55.

Sun Communities Trading Up 1.9 %

Shares of NYSE:SUI opened at $128.06 on Friday. The company’s 50-day moving average price is $127.27 and its two-hundred day moving average price is $129.54. 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 stock has a market capitalization of $16.31 billion, a PE ratio of 68.85 and a beta of 0.90.

Sun Communities (NYSE:SUI) last released its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.02. The company had revenue of $745.90 million for the quarter, compared to analyst estimates of $724.68 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. On average, equities analysts forecast that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

About Sun Communities

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.