Sun Communities, Inc. (NYSE:SUI) Stock Holdings Boosted by Centiva Capital LP

Centiva Capital LP raised its position in shares of Sun Communities, Inc. (NYSE:SUI) by 110.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,394 shares of the real estate investment trust’s stock after purchasing an additional 11,210 shares during the quarter. Centiva Capital LP’s holdings in Sun Communities were worth $2,891,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SUI. B. Riley Wealth Advisors Inc. boosted its position in shares of Sun Communities by 15.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 1,752 shares of the real estate investment trust’s stock worth $209,000 after buying an additional 234 shares during the period. Tidal Investments LLC boosted its position in shares of Sun Communities by 9.4% in the first quarter. Tidal Investments LLC now owns 8,869 shares of the real estate investment trust’s stock worth $1,129,000 after buying an additional 763 shares during the period. Cetera Advisors LLC acquired a new stake in shares of Sun Communities in the first quarter worth $515,000. DNB Asset Management AS boosted its position in shares of Sun Communities by 1.8% in the second quarter. DNB Asset Management AS now owns 19,249 shares of the real estate investment trust’s stock worth $2,316,000 after buying an additional 349 shares during the period. Finally, Manning & Napier Advisors LLC acquired a new stake in shares of Sun Communities in the second quarter worth $13,164,000. 99.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on SUI. Wells Fargo & Company increased their price objective on Sun Communities from $123.00 to $154.00 and gave the stock an “equal weight” rating in a report on Thursday, September 19th. Baird R W lowered Sun Communities from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. StockNews.com lowered Sun Communities from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Bank of America lowered Sun Communities from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $147.00 to $114.00 in a report on Tuesday, November 12th. Finally, Robert W. Baird lowered Sun Communities from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $145.00 to $126.00 in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Sun Communities currently has an average rating of “Hold” and an average price target of $139.08.

Sun Communities Trading Up 0.5 %

Shares of NYSE:SUI opened at $127.00 on Tuesday. Sun Communities, Inc. has a 52-week low of $110.98 and a 52-week high of $147.83. The company has a market cap of $16.18 billion, a P/E ratio of 68.28, a P/E/G ratio of 0.53 and a beta of 0.89. The stock’s 50-day moving average is $130.66 and its 200-day moving average is $127.97. 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 (NYSE:SUI) last released its earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The firm had revenue of $939.90 million for the quarter, compared to analyst estimates of $980.41 million. During the same period last year, the business earned $2.57 earnings per share. The firm’s quarterly revenue was down 4.4% compared to the same quarter last year. Equities research analysts predict that Sun Communities, Inc. will post 6.78 earnings per share for the current year.

Sun Communities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.96%. Sun Communities’s dividend payout ratio (DPR) is presently 202.15%.

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.