Nicola Wealth Management LTD. Cuts Stock Holdings in Sun Communities, Inc. (NYSE:SUI)

Nicola Wealth Management LTD. lessened its position in Sun Communities, Inc. (NYSE:SUI) by 91.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,684 shares of the real estate investment trust’s stock after selling 97,500 shares during the quarter. Nicola Wealth Management LTD.’s holdings in Sun Communities were worth $1,068,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. FMR LLC raised its stake in Sun Communities by 37.6% in the 3rd quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust’s stock valued at $707,329,000 after purchasing an additional 1,430,630 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Sun Communities by 1,061.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,323,479 shares of the real estate investment trust’s stock worth $178,868,000 after buying an additional 1,209,522 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Sun Communities by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,123,440 shares of the real estate investment trust’s stock valued at $138,149,000 after buying an additional 47,899 shares during the last quarter. Westfield Capital Management Co. LP lifted its stake in shares of Sun Communities by 58.8% in the third quarter. Westfield Capital Management Co. LP now owns 959,879 shares of the real estate investment trust’s stock worth $129,728,000 after buying an additional 355,427 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in Sun Communities by 16.1% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 779,744 shares of the real estate investment trust’s stock worth $95,885,000 after acquiring an additional 108,054 shares during the last quarter. 99.59% of the stock is owned by institutional investors and hedge funds.

Sun Communities Stock Up 0.2 %

Sun Communities stock opened at $136.44 on Tuesday. The firm has a market capitalization of $17.38 billion, a P/E ratio of 73.35 and a beta of 0.90. The stock’s fifty day simple moving average is $126.07 and its 200-day simple moving average is $129.64. Sun Communities, Inc. has a twelve month low of $110.98 and a twelve month high of $147.83. 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 (NYSE:SUI) last issued its quarterly earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.02. The company had revenue of $745.90 million for the quarter, compared to the consensus estimate of $724.68 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. As a group, equities analysts expect that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on SUI shares. Baird R W downgraded shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. StockNews.com downgraded Sun Communities from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. BMO Capital Markets reduced their price target on Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Robert W. Baird cut shares of Sun Communities from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $145.00 to $126.00 in a research note on Thursday, November 7th. Finally, Wells Fargo & Company cut their price objective on 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. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $134.55.

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.