Sun Communities, Inc. (NYSE:SUI) Stake Cut by American Assets Capital Advisers LLC

American Assets Capital Advisers LLC decreased its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 19.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,555 shares of the real estate investment trust’s stock after selling 6,639 shares during the period. Sun Communities comprises about 1.1% of American Assets Capital Advisers LLC’s portfolio, making the stock its 23rd largest holding. American Assets Capital Advisers LLC’s holdings in Sun Communities were worth $3,388,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SUI. Jefferies Financial Group reduced 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 note on Thursday, January 2nd. Wells Fargo & Company reduced 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. Truist Financial raised their target price on Sun Communities from $136.00 to $142.00 and gave the company a “buy” rating in a research report on Monday, March 10th. StockNews.com lowered Sun Communities from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Finally, Royal Bank of Canada reissued an “outperform” rating on shares of Sun Communities in a research note on Friday, February 28th. 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 data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $135.55.

Sun Communities Stock Performance

Shares of SUI opened at $128.06 on Friday. 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’s 50 day moving average is $127.27 and its 200-day moving average is $129.54. Sun Communities, Inc. has a 12-month low of $110.98 and a 12-month high of $147.83. The stock has a market capitalization of $16.31 billion, a P/E ratio of 68.85 and a beta of 0.90.

Sun Communities (NYSE:SUI) last posted its quarterly earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.02. The firm had revenue of $745.90 million for the quarter, compared to analyst estimates of $724.68 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. Equities research analysts anticipate that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

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.