Steward Partners Investment Advisory LLC Has $2.84 Million Position in Sun Communities, Inc. (NYSE:SUI)

Steward Partners Investment Advisory LLC reduced its stake in Sun Communities, Inc. (NYSE:SUI) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,062 shares of the real estate investment trust’s stock after selling 359 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Sun Communities were worth $2,836,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Assetmark Inc. grew its stake 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. Brooklyn Investment Group acquired a new position in shares of Sun Communities in the third quarter valued at approximately $41,000. Smartleaf Asset Management LLC grew its position in shares of Sun Communities by 45.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 124 shares during the last quarter. CKW Financial Group grew its position in shares of Sun Communities by 45.0% in the fourth quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 135 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Sun Communities in the third quarter valued at approximately $60,000. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on SUI shares. StockNews.com lowered Sun Communities from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Truist Financial upgraded shares of Sun Communities from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Bank of America lowered Sun Communities from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $147.00 to $114.00 in a report on Tuesday, November 12th. Wells Fargo & Company reduced their price target on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. Finally, Jefferies Financial Group reduced their target price on Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $134.55.

Sun Communities Stock Performance

Sun Communities stock opened at $133.60 on Friday. The business has a 50 day moving average of $126.73 and a 200-day moving average of $129.70. 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 1 year low of $110.98 and a 1 year high of $147.83. The company has a market capitalization of $17.02 billion, a P/E ratio of 71.83 and a beta of 0.90.

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

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.