Swiss National Bank Lowers Holdings in Sun Communities, Inc. (NYSE:SUI)

Swiss National Bank trimmed its holdings in Sun Communities, Inc. (NYSE:SUI) by 4.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 352,160 shares of the real estate investment trust’s stock after selling 17,700 shares during the period. Swiss National Bank’s holdings in Sun Communities were worth $43,305,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its position in shares of Sun Communities by 1,776.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,614 shares of the real estate investment trust’s stock valued at $198,000 after acquiring an additional 1,528 shares in the last quarter. AGF Management Ltd. purchased a new position in shares of Sun Communities in the fourth quarter valued at about $2,455,000. Wealthfront Advisers LLC lifted its position in shares of Sun Communities by 712.9% in the fourth quarter. Wealthfront Advisers LLC now owns 72,254 shares of the real estate investment trust’s stock valued at $8,885,000 after acquiring an additional 63,366 shares in the last quarter. GC Wealth Management RIA LLC lifted its position in shares of Sun Communities by 105.7% in the fourth quarter. GC Wealth Management RIA LLC now owns 6,112 shares of the real estate investment trust’s stock worth $752,000 after buying an additional 3,140 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Sun Communities by 23.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 2,344,020 shares of the real estate investment trust’s stock worth $288,244,000 after buying an additional 442,557 shares in the last quarter. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SUI shares. Truist Financial boosted their target price on Sun Communities from $136.00 to $142.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Royal Bank of Canada reiterated an “outperform” rating on shares of Sun Communities in a research report on Friday, February 28th. Wells Fargo & Company decreased their target price on 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 research report on Wednesday, November 20th. Finally, Jefferies Financial Group decreased their target price on Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Sun Communities presently has a consensus rating of “Hold” and a consensus price target of $135.55.

Sun Communities Trading Up 1.9 %

Shares of SUI stock opened at $128.06 on Monday. The company has a market cap of $16.31 billion, a PE ratio of 68.85 and a beta of 0.90. The stock’s 50 day simple moving average is $127.27 and its two-hundred day simple moving average is $129.52. 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.

Sun Communities (NYSE:SUI) last released its earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. The firm had revenue of $745.90 million for 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%. Research analysts predict that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

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.