4,775 Shares in Sun Communities, Inc. (NYSE:SUI) Acquired by OFI Invest Asset Management

OFI Invest Asset Management acquired a new position in shares of Sun Communities, Inc. (NYSE:SUI) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 4,775 shares of the real estate investment trust’s stock, valued at approximately $567,000.

Other hedge funds have also recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its position in Sun Communities by 89.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock valued at $68,000 after buying an additional 236 shares during the period. Assetmark Inc. boosted its position in Sun Communities by 2,111.1% in the 3rd quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 190 shares during the period. Los Angeles Capital Management LLC boosted its position in Sun Communities by 173.7% in the 3rd quarter. Los Angeles Capital Management LLC now owns 150,174 shares of the real estate investment trust’s stock valued at $20,296,000 after buying an additional 95,303 shares during the period. Entropy Technologies LP boosted its position in Sun Communities by 44.4% in the 3rd quarter. Entropy Technologies LP now owns 12,685 shares of the real estate investment trust’s stock valued at $1,714,000 after buying an additional 3,903 shares during the period. Finally, Victory Capital Management Inc. boosted its position in Sun Communities by 6.9% in the 3rd quarter. Victory Capital Management Inc. now owns 77,203 shares of the real estate investment trust’s stock valued at $10,434,000 after buying an additional 5,008 shares during the period. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Sun Communities Price Performance

Shares of NYSE:SUI opened at $133.60 on Monday. The company’s fifty day moving average price is $126.73 and its 200 day moving average price is $129.67. Sun Communities, Inc. has a 12 month low of $110.98 and a 12 month high of $147.83. 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 firm has a market capitalization of $17.02 billion, a P/E ratio of 71.83 and a beta of 0.90.

Sun Communities (NYSE:SUI) last announced its quarterly earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 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 firm had revenue of $745.90 million for the quarter, compared to analyst estimates of $724.68 million. As a group, sell-side analysts predict that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SUI has been the subject of several recent research reports. Truist Financial raised shares of Sun Communities from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. StockNews.com cut shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Bank of America lowered shares of Sun Communities from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $147.00 to $114.00 in a report on Tuesday, November 12th. Wells Fargo & Company reduced their price objective on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 11th. Finally, UBS Group lowered shares of Sun Communities from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $155.00 to $134.00 in a report on Thursday, November 14th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price 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.