Sun Communities, Inc. (NYSE:SUI) Shares Sold by Truvestments Capital LLC

Truvestments Capital LLC cut its holdings in Sun Communities, Inc. (NYSE:SUI) by 91.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 197 shares of the real estate investment trust’s stock after selling 2,065 shares during the quarter. Truvestments Capital LLC’s holdings in Sun Communities were worth $27,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. PGGM Investments grew its holdings in shares of Sun Communities by 159.9% during the second quarter. PGGM Investments now owns 1,246,739 shares of the real estate investment trust’s stock worth $150,033,000 after buying an additional 767,126 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in 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 worth $264,253,000 after acquiring an additional 424,842 shares during the period. Westfield Capital Management Co. LP lifted its position in Sun Communities by 58.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 959,879 shares of the real estate investment trust’s stock worth $129,728,000 after acquiring an additional 355,427 shares during the period. Hsbc Holdings PLC grew its stake in shares of Sun Communities by 199.1% in the 2nd quarter. Hsbc Holdings PLC now owns 358,284 shares of the real estate investment trust’s stock valued at $42,754,000 after purchasing an additional 238,498 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Sun Communities by 3.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,949,862 shares of the real estate investment trust’s stock valued at $354,986,000 after purchasing an additional 111,569 shares during the period. 99.59% of the stock is owned by hedge funds and other institutional investors.

Sun Communities Stock Up 1.2 %

Sun Communities stock opened at $128.56 on Friday. The firm has a market capitalization of $16.38 billion, a price-to-earnings ratio of 69.12, a price-to-earnings-growth ratio of 0.54 and a beta of 0.91. 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, Inc. has a fifty-two week low of $110.98 and a fifty-two week high of $147.83. The stock’s fifty day moving average is $131.21 and its two-hundred day moving average is $127.73.

Sun Communities (NYSE:SUI) last posted its earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.20). Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The business had revenue of $939.90 million for the quarter, compared to analysts’ expectations of $980.41 million. During the same quarter last year, the business posted $2.57 earnings per share. The business’s revenue was down 4.4% compared to the same quarter last year. Analysts predict that Sun Communities, Inc. will post 6.78 EPS for the current fiscal year.

Sun Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.76 annualized dividend and a dividend yield of 2.92%. Sun Communities’s dividend payout ratio is currently 202.15%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. UBS Group lowered shares of Sun Communities from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $155.00 to $134.00 in a research report on Thursday, November 14th. StockNews.com downgraded shares of Sun Communities from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Bank of America cut shares of Sun Communities from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $147.00 to $114.00 in a report on Tuesday, November 12th. Jefferies Financial Group assumed coverage on Sun Communities in a report on Thursday, October 17th. They issued a “buy” rating and a $160.00 price objective on the stock. Finally, BMO Capital Markets cut their target price on Sun Communities from $145.00 to $138.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target 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.