Sun Communities, Inc. (NYSE:SUI) Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd decreased its stake in Sun Communities, Inc. (NYSE:SUI) by 45.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,973 shares of the real estate investment trust’s stock after selling 5,833 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Sun Communities were worth $857,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Legacy Trust acquired a new stake in Sun Communities during the 4th quarter worth $625,000. Aurora Investment Managers LLC. boosted its stake in Sun Communities by 9.7% during the 4th quarter. Aurora Investment Managers LLC. now owns 27,490 shares of the real estate investment trust’s stock worth $3,380,000 after purchasing an additional 2,435 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in Sun Communities by 16.1% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 779,744 shares of the real estate investment trust’s stock worth $95,885,000 after purchasing an additional 108,054 shares during the period. Victory Capital Management Inc. boosted its stake in Sun Communities by 6.9% during 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 purchasing an additional 5,008 shares during the period. Finally, VCI Wealth Management LLC acquired a new stake in Sun Communities during the 4th quarter worth $1,312,000. Institutional investors and hedge funds own 99.59% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. BMO Capital Markets decreased their price target on shares of Sun Communities from $145.00 to $138.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. StockNews.com cut shares of Sun Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. UBS Group downgraded shares of Sun Communities from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $155.00 to $134.00 in a research report on Thursday, November 14th. Wells Fargo & Company cut their price objective on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. Finally, Bank of America downgraded shares of Sun Communities from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $147.00 to $114.00 in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Sun Communities has an average rating of “Hold” and a consensus price target of $134.55.

Sun Communities Stock Performance

Shares of SUI opened at $133.19 on Friday. The company has a 50-day simple moving average of $125.56 and a 200-day simple moving average of $129.58. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $16.97 billion, a PE ratio of 71.61 and a beta of 0.90. Sun Communities, Inc. has a 52-week low of $110.98 and a 52-week high of $147.83.

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, topping the consensus estimate of $1.39 by $0.02. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The company had revenue of $745.90 million for the quarter, compared to analysts’ expectations of $724.68 million. Equities research analysts predict that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Sun Communities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.94 per share. The ex-dividend date was Tuesday, December 31st. This represents a $3.76 annualized dividend and a dividend yield of 2.82%. Sun Communities’s dividend payout ratio is currently 202.15%.

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.