Atria Investments Inc Reduces Holdings in Sun Communities, Inc. (NYSE:SUI)

Atria Investments Inc reduced its position in Sun Communities, Inc. (NYSE:SUI) by 10.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 6,817 shares of the real estate investment trust’s stock after selling 819 shares during the period. Atria Investments Inc’s holdings in Sun Communities were worth $921,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Sun Communities by 50.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,302,804 shares of the real estate investment trust’s stock valued at $424,677,000 after buying an additional 1,105,306 shares in the last quarter. PGGM Investments grew its position in shares of Sun Communities by 159.9% in the second quarter. PGGM Investments now owns 1,246,739 shares of the real estate investment trust’s stock valued at $150,033,000 after purchasing an additional 767,126 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Sun Communities by 24.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 2,195,884 shares of the real estate investment trust’s stock valued at $264,253,000 after purchasing an additional 424,842 shares during the period. Hsbc Holdings PLC lifted its holdings in Sun Communities by 199.1% during the 2nd quarter. Hsbc Holdings PLC now owns 358,284 shares of the real estate investment trust’s stock worth $42,754,000 after purchasing an additional 238,498 shares in the last quarter. Finally, National Bank of Canada FI lifted its holdings in Sun Communities by 499.9% during the 1st quarter. National Bank of Canada FI now owns 157,977 shares of the real estate investment trust’s stock worth $18,562,000 after purchasing an additional 131,641 shares in the last quarter. Institutional investors own 99.59% of the company’s stock.

Sun Communities Price Performance

Shares of Sun Communities stock opened at $125.16 on Monday. The stock has a market capitalization of $15.94 billion, a price-to-earnings ratio of 67.29, a price-to-earnings-growth ratio of 0.53 and a beta of 0.91. The company has a fifty day moving average of $134.14 and a 200-day moving average of $127.11. Sun Communities, Inc. has a 52-week low of $110.98 and a 52-week 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 data on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). The company had revenue of $939.90 million for the quarter, compared to the consensus estimate of $980.41 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The firm’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period last year, the business posted $2.57 earnings per share. Equities research analysts expect that Sun Communities, Inc. will post 6.78 EPS for the current year.

Sun Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend was Monday, September 30th. Sun Communities’s dividend payout ratio is 202.15%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. StockNews.com upgraded Sun Communities from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. BMO Capital Markets decreased their target price on shares of Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Baird R W downgraded shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Truist Financial upped 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. Finally, Jefferies Financial Group assumed coverage on Sun Communities in a research note on Thursday, October 17th. They issued a “buy” rating and a $160.00 target price on the stock. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Sun Communities presently has a consensus rating of “Hold” and a consensus target price of $139.08.

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.