Sun Communities, Inc. (NYSE:SUI) Shares Sold by Vestmark Advisory Solutions Inc.

Vestmark Advisory Solutions Inc. lessened its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 2.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,618 shares of the real estate investment trust’s stock after selling 100 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Sun Communities were worth $445,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. Freestone Capital Holdings LLC increased its position in Sun Communities by 25.1% during the fourth quarter. Freestone Capital Holdings LLC now owns 19,778 shares of the real estate investment trust’s stock worth $2,432,000 after buying an additional 3,969 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Sun Communities in the fourth quarter valued at approximately $16,051,000. Arizona State Retirement System boosted its position in Sun Communities by 1.4% during the fourth quarter. Arizona State Retirement System now owns 36,210 shares of the real estate investment trust’s stock worth $4,453,000 after purchasing an additional 502 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Sun Communities during the fourth quarter worth $5,913,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Sun Communities by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,123,440 shares of the real estate investment trust’s stock worth $138,149,000 after purchasing an additional 47,899 shares in the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Stock Performance

SUI opened at $133.60 on Friday. The firm has a market cap of $17.02 billion, a PE ratio of 71.83 and a beta of 0.90. 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 business has a fifty day simple moving average of $126.73 and a 200-day simple moving average of $129.69. Sun Communities, Inc. has a fifty-two week low of $110.98 and a fifty-two week high of $147.83.

Sun Communities (NYSE:SUI) last announced its quarterly earnings data 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 return on equity of 3.21% and a net margin of 7.46%. The business had revenue of $745.90 million during the quarter, compared to analyst estimates of $724.68 million. As a group, equities analysts predict that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company cut their price target on Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. StockNews.com lowered Sun Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Jefferies Financial Group decreased their target price on Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Truist Financial raised Sun Communities from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Finally, UBS Group cut Sun Communities from a “buy” rating to a “neutral” rating and cut their price objective for the company from $155.00 to $134.00 in a research note on Thursday, November 14th. Two investment analysts have rated the stock with a sell rating, six have issued 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 $134.55.

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.