Naviter Wealth LLC Has $863,000 Holdings in Sun Communities, Inc. (NYSE:SUI)

Naviter Wealth LLC trimmed its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 22.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,961 shares of the real estate investment trust’s stock after selling 1,975 shares during the quarter. Naviter Wealth LLC’s holdings in Sun Communities were worth $863,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SUI. Assetmark Inc. boosted its stake in shares of Sun Communities by 2,111.1% during the 3rd quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 190 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Sun Communities in the 3rd quarter valued at approximately $41,000. Smartleaf Asset Management LLC lifted its holdings in Sun Communities by 45.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 124 shares during the last quarter. CKW Financial Group boosted its position in Sun Communities by 45.0% during the fourth quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 135 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in Sun Communities during the third quarter valued at approximately $60,000. 99.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SUI. Wells Fargo & Company reduced their price objective on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 11th. Jefferies Financial Group cut their target price on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. StockNews.com downgraded Sun Communities from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Bank of America cut Sun Communities from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $147.00 to $114.00 in a research report on Tuesday, November 12th. Finally, UBS Group downgraded Sun Communities from a “buy” rating to a “neutral” rating and decreased their target price for the company from $155.00 to $134.00 in a research note on Thursday, November 14th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $134.55.

Sun Communities Price Performance

Shares of SUI stock opened at $133.60 on Friday. Sun Communities, Inc. has a 12 month low of $110.98 and a 12 month high of $147.83. The company has a market capitalization of $17.02 billion, a P/E ratio of 71.83 and a beta of 0.90. The stock has a 50 day moving average of $126.73 and a two-hundred day moving average of $129.69. 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 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. The firm had revenue of $745.90 million during the quarter, compared to analysts’ expectations 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 EPS for the current year.

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.