EntryPoint Capital LLC Cuts Stock Holdings in Sun Communities, Inc. (NYSE:SUI)

EntryPoint Capital LLC reduced its stake in Sun Communities, Inc. (NYSE:SUI) by 20.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,420 shares of the real estate investment trust’s stock after selling 1,152 shares during the quarter. EntryPoint Capital LLC’s holdings in Sun Communities were worth $544,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Brooklyn Investment Group bought a new position in shares of Sun Communities in the 3rd quarter worth $41,000. Smartleaf Asset Management LLC increased its stake in Sun Communities by 45.1% in 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 last quarter. CKW Financial Group increased its stake in Sun Communities by 45.0% in the fourth 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. Point72 Hong Kong Ltd purchased a new stake in Sun Communities during the third quarter valued at about $60,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in 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. 99.59% of the stock is currently owned by institutional investors.

Sun Communities Stock Down 0.4 %

Shares of NYSE SUI opened at $130.42 on Tuesday. The firm has a fifty day simple moving average of $128.39 and a two-hundred day simple moving average of $129.36. The firm has a market capitalization of $16.64 billion, a PE ratio of 70.12 and a beta of 0.90. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. Sun Communities, Inc. has a 12 month low of $110.98 and a 12 month high of $147.83.

Sun Communities (NYSE:SUI) last issued 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 business had revenue of $745.90 million during 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 analysts expect that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

Sun Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.76 annualized dividend and a dividend yield of 2.88%. Sun Communities’s dividend payout ratio is presently 508.11%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SUI. Wells Fargo & Company reduced their price objective 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. Royal Bank of Canada reissued an “outperform” rating on shares of Sun Communities in a research note on Friday, February 28th. Truist Financial upped their price objective on shares of Sun Communities from $136.00 to $142.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Finally, Jefferies Financial Group decreased 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. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Sun Communities presently has a consensus rating of “Hold” and an average target price of $136.60.

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.