Bank Julius Baer & Co. Ltd Zurich Decreases Stock Holdings in Sun Communities, Inc. (NYSE:SUI)

Bank Julius Baer & Co. Ltd Zurich reduced its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 83.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 513 shares of the real estate investment trust’s stock after selling 2,541 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Sun Communities were worth $70,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Assetmark Inc. grew its stake in Sun Communities by 2,111.1% during the third quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 190 shares during the period. Brooklyn Investment Group purchased a new stake in Sun Communities during the third quarter worth approximately $41,000. Smartleaf Asset Management LLC grew its stake in 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 worth $49,000 after buying an additional 124 shares during the period. CKW Financial Group grew its stake in 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 buying an additional 135 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new stake in Sun Communities during the third quarter worth approximately $60,000. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Sun Communities Trading Down 1.4 %

Sun Communities stock opened at $129.82 on Wednesday. The firm’s 50-day moving average is $127.04 and its 200-day moving average is $129.64. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. Sun Communities, Inc. has a 1 year low of $110.98 and a 1 year high of $147.83. The company has a market cap of $16.54 billion, a P/E ratio of 69.80 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 analysts’ consensus estimates of $1.39 by $0.02. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The company had revenue of $745.90 million for the quarter, compared to the consensus estimate of $724.68 million. On average, equities analysts expect that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

SUI has been the topic of a number of recent research reports. Truist Financial boosted their target price on shares of Sun Communities from $136.00 to $142.00 and gave the stock a “buy” rating in a research report on Monday. Bank of America cut shares of Sun Communities from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $147.00 to $114.00 in a research report on Tuesday, November 12th. Jefferies Financial Group reduced their target price on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. UBS Group cut shares of Sun Communities from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $155.00 to $134.00 in a research report on Thursday, November 14th. Finally, StockNews.com cut shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Sun Communities presently has an average rating of “Hold” and an average price target of $135.55.

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.