Sun Communities, Inc. (NYSE:SUI) Shares Acquired by Metis Global Partners LLC

Metis Global Partners LLC lifted its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 19.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,640 shares of the real estate investment trust’s stock after purchasing an additional 2,246 shares during the quarter. Metis Global Partners LLC’s holdings in Sun Communities were worth $1,843,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Assetmark Inc. raised its holdings in Sun Communities by 2,111.1% in the third quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 190 shares in the last quarter. Quest Partners LLC raised its stake in shares of Sun Communities by 12,700.0% during the 2nd quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 381 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in Sun Communities in the 2nd quarter valued at about $62,000. Farther Finance Advisors LLC lifted its holdings in Sun Communities by 89.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock valued at $68,000 after purchasing an additional 236 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in Sun Communities by 230.7% in the 3rd quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock valued at $84,000 after purchasing an additional 436 shares in the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Price Performance

NYSE:SUI opened at $125.16 on Friday. The business’s 50-day moving average price is $134.46 and its 200 day moving average price is $126.96. The firm has a market cap of $15.94 billion, a P/E ratio of 67.29, a PEG ratio of 0.53 and a beta of 0.91. Sun Communities, Inc. has a 52-week low of $110.98 and a 52-week high of $147.83. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93.

Sun Communities (NYSE:SUI) last announced its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $2.31 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). The business had revenue of $939.90 million for the quarter, compared to analyst estimates of $980.41 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The company’s revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.57 earnings per share. As a group, sell-side analysts predict that Sun Communities, Inc. will post 6.75 earnings per share for the current fiscal year.

Sun Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend was Monday, September 30th. Sun Communities’s dividend payout ratio is 202.15%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SUI. Wells Fargo & Company increased their price objective on shares of Sun Communities from $123.00 to $154.00 and gave the stock an “equal weight” rating in a report on Thursday, September 19th. Royal Bank of Canada cut their price objective on shares of Sun Communities from $147.00 to $135.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Baird R W lowered shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. UBS Group lowered shares of Sun Communities from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $155.00 to $134.00 in a report on Thursday. Finally, Bank of America downgraded shares of Sun Communities from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $147.00 to $114.00 in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $139.08.

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.