Quadrature Capital Ltd Purchases New Holdings in Sun Communities, Inc. (NYSE:SUI)

Quadrature Capital Ltd bought a new position in shares of Sun Communities, Inc. (NYSE:SUI) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 17,661 shares of the real estate investment trust’s stock, valued at approximately $2,386,000.

Several other hedge funds also recently made changes to their positions in SUI. Bristlecone Advisors LLC boosted its holdings in Sun Communities by 2.4% in the second quarter. Bristlecone Advisors LLC now owns 3,655 shares of the real estate investment trust’s stock worth $440,000 after purchasing an additional 85 shares during the period. Toronto Dominion Bank boosted its holdings in shares of Sun Communities by 0.8% in the 2nd quarter. Toronto Dominion Bank now owns 11,916 shares of the real estate investment trust’s stock valued at $1,434,000 after buying an additional 98 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of Sun Communities by 15.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 762 shares of the real estate investment trust’s stock valued at $92,000 after buying an additional 102 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in Sun Communities by 1.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 7,034 shares of the real estate investment trust’s stock worth $846,000 after acquiring an additional 115 shares during the period. Finally, Avior Wealth Management LLC raised its stake in Sun Communities by 3.0% during the third quarter. Avior Wealth Management LLC now owns 4,328 shares of the real estate investment trust’s stock worth $585,000 after acquiring an additional 125 shares during the period. Institutional investors and hedge funds own 99.59% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on SUI. Royal Bank of Canada dropped their price objective on shares of Sun Communities from $147.00 to $135.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Baird R W lowered shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Bank of America lowered shares of Sun Communities from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $147.00 to $114.00 in a research note on Tuesday, November 12th. Wells Fargo & Company increased their price objective on shares of Sun Communities from $123.00 to $154.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 19th. Finally, BMO Capital Markets dropped their price objective on shares of Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $139.08.

Sun Communities Trading Down 1.3 %

Sun Communities stock opened at $124.69 on Friday. The firm has a 50 day simple moving average of $129.80 and a 200-day simple moving average of $128.00. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. The stock has a market capitalization of $15.88 billion, a PE ratio of 67.04, a price-to-earnings-growth ratio of 0.53 and a beta of 0.88. Sun Communities, Inc. has a 12-month low of $110.98 and a 12-month high of $147.83.

Sun Communities (NYSE:SUI) last posted its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.20). The company had revenue of $939.90 million during the quarter, compared to the consensus estimate of $980.41 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The company’s revenue was down 4.4% on a year-over-year basis. During the same quarter last year, the business earned $2.57 earnings per share. As a group, equities research analysts expect that Sun Communities, Inc. will post 6.78 EPS for the current fiscal year.

Sun Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Tuesday, December 31st. Sun Communities’s dividend payout ratio (DPR) is presently 202.15%.

About Sun Communities

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.