EntryPoint Capital LLC Sells 1,152 Shares of Sun Communities, Inc. (NYSE:SUI)

EntryPoint Capital LLC lowered its stake in Sun Communities, Inc. (NYSE:SUI) by 20.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,420 shares of the real estate investment trust’s stock after selling 1,152 shares during the quarter. EntryPoint Capital LLC’s holdings in Sun Communities were worth $544,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SUI. FMR LLC raised its stake in Sun Communities by 37.6% during the 3rd quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust’s stock worth $707,329,000 after buying an additional 1,430,630 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Sun Communities by 1,061.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,323,479 shares of the real estate investment trust’s stock valued at $178,868,000 after acquiring an additional 1,209,522 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Sun Communities by 23.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 2,344,020 shares of the real estate investment trust’s stock worth $288,244,000 after purchasing an additional 442,557 shares during the period. Adelante Capital Management LLC lifted its holdings in shares of Sun Communities by 168.7% in the 3rd quarter. Adelante Capital Management LLC now owns 559,129 shares of the real estate investment trust’s stock worth $75,566,000 after purchasing an additional 351,017 shares in the last quarter. Finally, Prudential Financial Inc. grew its position in Sun Communities by 138.8% in the 4th quarter. Prudential Financial Inc. now owns 501,216 shares of the real estate investment trust’s stock valued at $64,436,000 after purchasing an additional 291,329 shares during the period. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Stock Down 0.4 %

Sun Communities stock opened at $130.42 on Tuesday. The firm has a 50 day simple moving average of $128.39 and a 200 day simple moving average of $129.36. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. Sun Communities, Inc. has a 1-year low of $110.98 and a 1-year high of $147.83. The firm has a market capitalization of $16.64 billion, a price-to-earnings ratio of 70.12 and a beta of 0.90.

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

Sun Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.94 per share. The ex-dividend date is Monday, March 31st. This represents a $3.76 annualized dividend and a yield of 2.88%. Sun Communities’s dividend payout ratio is currently 508.11%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SUI. Jefferies Financial Group reduced their price objective on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Wells Fargo & Company cut their target price on 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. Truist Financial upped their price target on Sun Communities from $136.00 to $142.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Finally, Royal Bank of Canada reiterated an “outperform” rating on shares of Sun Communities in a research note on Friday, February 28th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $136.60.

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.