Sun Communities, Inc. (NYSE:SUI) Shares Sold by Long Pond Capital LP

Long Pond Capital LP lessened its position in shares of Sun Communities, Inc. (NYSE:SUI) by 74.2% during the 4th quarter, Holdings Channel reports. The firm owned 123,994 shares of the real estate investment trust’s stock after selling 357,039 shares during the quarter. Sun Communities comprises 0.8% of Long Pond Capital LP’s portfolio, making the stock its 23rd largest holding. Long Pond Capital LP’s holdings in Sun Communities were worth $15,248,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in SUI. Aster Capital Management DIFC Ltd lifted its holdings in shares of Sun Communities by 263.6% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 232 shares during the period. Smartleaf Asset Management LLC lifted its stake in Sun Communities by 45.1% during the 4th 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 boosted its holdings in shares of Sun Communities by 45.0% in the 4th quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 135 shares during the last quarter. Quadrant Capital Group LLC increased its stake in shares of Sun Communities by 17.2% in the fourth quarter. Quadrant Capital Group LLC now owns 837 shares of the real estate investment trust’s stock worth $103,000 after acquiring an additional 123 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Sun Communities by 8.5% during 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 last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SUI shares. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Sun Communities in a report on Friday, February 28th. Jefferies Financial Group initiated coverage on Sun Communities in a report on Tuesday, April 8th. They set a “buy” rating and a $150.00 target price on the stock. Finally, Truist Financial decreased their price target on Sun Communities from $142.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Sun Communities currently has a consensus rating of “Hold” and an average price target of $136.70.

Sun Communities Trading Down 0.5 %

Shares of SUI stock opened at $121.81 on Thursday. The stock has a 50 day simple moving average of $127.70 and a 200-day simple moving average of $127.31. Sun Communities, Inc. has a 1-year low of $109.22 and a 1-year high of $147.83. The company has a market cap of $15.54 billion, a price-to-earnings ratio of 65.49 and a beta of 0.84. 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 posted its quarterly earnings data 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 company had revenue of $745.90 million during the quarter, compared to analyst estimates of $724.68 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. On average, equities research analysts expect that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend was Monday, March 31st. Sun Communities’s dividend payout ratio (DPR) is 508.11%.

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.