Sun Communities, Inc. (NYSE:SUI) Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC lowered its stake in Sun Communities, Inc. (NYSE:SUI) by 24.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,292 shares of the real estate investment trust’s stock after selling 15,529 shares during the quarter. Natixis Advisors LLC’s holdings in Sun Communities were worth $6,392,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SUI. CIBC Asset Management Inc lifted its stake in shares of Sun Communities by 5.5% in the 3rd quarter. CIBC Asset Management Inc now owns 4,401 shares of the real estate investment trust’s stock worth $595,000 after acquiring an additional 228 shares during the period. Metis Global Partners LLC boosted its stake in Sun Communities by 19.7% during the 3rd quarter. Metis Global Partners LLC now owns 13,640 shares of the real estate investment trust’s stock valued at $1,843,000 after purchasing an additional 2,246 shares in the last quarter. KBC Group NV increased its position in shares of Sun Communities by 303.3% during the 3rd quarter. KBC Group NV now owns 109,939 shares of the real estate investment trust’s stock valued at $14,858,000 after purchasing an additional 82,682 shares during the period. Victory Capital Management Inc. raised its stake in shares of Sun Communities by 6.9% in the 3rd quarter. Victory Capital Management Inc. now owns 77,203 shares of the real estate investment trust’s stock worth $10,434,000 after buying an additional 5,008 shares in the last quarter. Finally, Entropy Technologies LP lifted its holdings in shares of Sun Communities by 44.4% in the third quarter. Entropy Technologies LP now owns 12,685 shares of the real estate investment trust’s stock valued at $1,714,000 after buying an additional 3,903 shares during the period. Institutional investors own 99.59% of the company’s stock.

Sun Communities Trading Down 0.8 %

NYSE:SUI opened at $127.45 on Friday. The stock’s 50-day moving average is $132.51 and its two-hundred day moving average is $127.42. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. The stock has a market cap of $16.24 billion, a PE ratio of 68.52, a price-to-earnings-growth ratio of 0.53 and a beta of 0.91. 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 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 the consensus estimate of $2.51 by ($0.20). Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The firm had revenue of $939.90 million for the quarter, compared to analysts’ expectations of $980.41 million. During the same quarter in the prior year, the business posted $2.57 earnings per share. Sun Communities’s revenue was down 4.4% on a year-over-year basis. As a group, equities research analysts forecast that Sun Communities, Inc. will post 6.78 earnings per share for the current fiscal year.

Sun Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.94 dividend. The ex-dividend date was Monday, September 30th. This represents a $3.76 dividend on an annualized basis and a yield of 2.95%. Sun Communities’s dividend payout ratio is currently 202.15%.

Analyst Upgrades and Downgrades

SUI has been the topic of several research reports. Jefferies Financial Group initiated coverage on shares of Sun Communities in a research report on Thursday, October 17th. They issued a “buy” rating and a $160.00 price target on the stock. Evercore ISI raised their target price on shares of Sun Communities from $149.00 to $150.00 and gave the stock an “in-line” rating in a report on Monday, October 21st. Robert W. Baird cut Sun Communities from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $145.00 to $126.00 in a report on Thursday, November 7th. Truist Financial raised their price objective on Sun Communities from $127.00 to $138.00 and gave the stock a “hold” rating in a research note on Tuesday, August 13th. Finally, StockNews.com lowered Sun Communities from a “hold” rating to a “sell” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $139.08.

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.