Cerity Partners LLC Purchases 11,305 Shares of Sun Communities, Inc. (NYSE:SUI)

Cerity Partners LLC increased its position in Sun Communities, Inc. (NYSE:SUI) by 56.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,346 shares of the real estate investment trust’s stock after purchasing an additional 11,305 shares during the period. Cerity Partners LLC’s holdings in Sun Communities were worth $4,236,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Assetmark Inc. raised its position in Sun Communities by 2,111.1% in the 3rd quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 190 shares during the last quarter. Quest Partners LLC raised its position in Sun Communities by 12,700.0% in the 2nd quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 381 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new stake in Sun Communities in the 2nd quarter valued at $62,000. Farther Finance Advisors LLC raised its position in Sun Communities by 89.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock valued at $68,000 after buying an additional 236 shares during the last quarter. Finally, Blue Trust Inc. raised its position in Sun Communities by 230.7% in the 3rd quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock valued at $84,000 after buying an additional 436 shares during the last quarter. 99.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SUI has been the subject of several research analyst reports. Robert W. Baird lowered Sun Communities from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $145.00 to $126.00 in a research report on Thursday, November 7th. UBS Group lowered Sun Communities from a “buy” rating to a “neutral” rating and decreased their target price for the company from $155.00 to $134.00 in a research report on Thursday, November 14th. Bank of America lowered Sun Communities from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $147.00 to $114.00 in a research report on Tuesday, November 12th. BMO Capital Markets decreased 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. Finally, Jefferies Financial Group began coverage on Sun Communities in a research note on Thursday, October 17th. They set a “buy” rating and a $160.00 price target for the company. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Sun Communities presently has an average rating of “Hold” and an average target price of $139.08.

Sun Communities Stock Performance

Shares of SUI opened at $126.33 on Friday. The company has a market cap of $16.09 billion, a PE ratio of 67.92, a price-to-earnings-growth ratio of 0.54 and a beta of 0.91. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. The stock has a 50-day moving average price of $130.92 and a 200-day moving average price of $127.79. Sun Communities, Inc. has a 12-month low of $110.98 and a 12-month high of $147.83.

Sun Communities (NYSE:SUI) last issued its quarterly earnings results 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 business 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 business’s revenue was down 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.57 EPS. As a group, equities analysts forecast that Sun Communities, Inc. will post 6.78 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given 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 2.98%. Sun Communities’s payout ratio is 202.15%.

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.