M&T Bank Corp Has $1.89 Million Position in Sun Communities, Inc. (NYSE:SUI)

M&T Bank Corp lessened its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 3.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,347 shares of the real estate investment trust’s stock after selling 550 shares during the period. M&T Bank Corp’s holdings in Sun Communities were worth $1,887,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SUI. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Sun Communities by 8.5% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,069 shares of the real estate investment trust’s stock worth $131,000 after purchasing an additional 84 shares during the period. Cascade Investment Advisors Inc. grew its stake in Sun Communities by 0.8% during the fourth quarter. Cascade Investment Advisors Inc. now owns 10,373 shares of the real estate investment trust’s stock worth $1,276,000 after buying an additional 85 shares in the last quarter. Cetera Trust Company N.A grew its stake in Sun Communities by 6.0% during the fourth quarter. Cetera Trust Company N.A now owns 1,865 shares of the real estate investment trust’s stock worth $229,000 after buying an additional 105 shares in the last quarter. Smartleaf Asset Management LLC increased 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 valued at $49,000 after buying an additional 124 shares during the period. Finally, Avior Wealth Management LLC raised its position in shares of Sun Communities by 3.0% in the 3rd quarter. Avior Wealth Management LLC now owns 4,328 shares of the real estate investment trust’s stock valued at $585,000 after buying an additional 125 shares in the last quarter. 99.59% of the stock is owned by institutional investors and hedge funds.

Sun Communities Stock Up 1.7 %

Shares of NYSE SUI opened at $133.60 on Monday. Sun Communities, Inc. has a 1 year low of $110.98 and a 1 year 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 cap of $17.02 billion, a PE ratio of 71.83 and a beta of 0.90. The company has a 50 day simple moving average of $126.73 and a 200 day simple moving average of $129.67.

Sun Communities (NYSE:SUI) last issued its quarterly earnings data 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 analysts’ expectations of $724.68 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. On average, research analysts forecast that Sun Communities, Inc. will post 6.77 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on SUI shares. Wells Fargo & Company reduced their price target on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. StockNews.com downgraded Sun Communities from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Jefferies Financial Group lowered their price target on Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Bank of America downgraded 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 report on Tuesday, November 12th. Finally, UBS Group cut shares of Sun Communities from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $155.00 to $134.00 in a report on Thursday, November 14th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average 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.