Tredje AP fonden cut its holdings in shares of Sun Communities, Inc. (NYSE:SUI – Free Report) by 50.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,854 shares of the real estate investment trust’s stock after selling 9,853 shares during the quarter. Tredje AP fonden’s holdings in Sun Communities were worth $1,212,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Assetmark Inc. raised its stake in shares of Sun Communities by 2,111.1% in the third quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 190 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Sun Communities in the third quarter valued at $41,000. Smartleaf Asset Management LLC raised its stake 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 in the last quarter. CKW Financial Group raised its stake 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 in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Sun Communities in the third quarter valued at $60,000. 99.59% of the stock is currently owned by institutional investors and hedge funds.
Sun Communities Stock Performance
Shares of NYSE SUI opened at $128.06 on Friday. 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 12 month low of $110.98 and a 12 month high of $147.83. The stock has a 50 day moving average of $127.27 and a 200-day moving average of $129.57. The company has a market capitalization of $16.31 billion, a P/E ratio of 68.85 and a beta of 0.90.
Wall Street Analyst Weigh In
Several research firms have issued reports on SUI. StockNews.com lowered Sun Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Wells Fargo & Company decreased their target price on Sun Communities from $154.00 to $135.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 11th. Jefferies Financial Group decreased 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. Royal Bank of Canada restated an “outperform” rating on shares of Sun Communities in a report on Friday, February 28th. Finally, Truist Financial raised their price target on Sun Communities from $136.00 to $142.00 and gave the company a “buy” rating in a report on Monday, March 10th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $135.55.
Get Our Latest Research Report on SUI
Sun Communities 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.
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