Quantbot Technologies LP Purchases 16,919 Shares of Sun Communities, Inc. (NYSE:SUI)

Quantbot Technologies LP boosted its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 639.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,566 shares of the real estate investment trust’s stock after acquiring an additional 16,919 shares during the period. Quantbot Technologies LP’s holdings in Sun Communities were worth $2,644,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. boosted its stake in shares of Sun Communities by 2,111.1% during the third quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 190 shares in the last quarter. Quest Partners LLC boosted its position in 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 valued at $46,000 after acquiring an additional 381 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in shares of Sun Communities in the 2nd quarter valued at $62,000. Farther Finance Advisors LLC increased its holdings in shares of 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 acquiring an additional 236 shares during the period. Finally, Blue Trust Inc. raised its position in shares of Sun Communities by 230.7% in the 3rd quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock worth $84,000 after acquiring an additional 436 shares in the last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Sun Communities Trading Up 1.2 %

Shares of Sun Communities stock opened at $128.59 on Thursday. Sun Communities, Inc. has a 1 year low of $110.98 and a 1 year high of $147.83. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. The stock has a market cap of $16.38 billion, a PE ratio of 69.13, a price-to-earnings-growth ratio of 0.54 and a beta of 0.91. The firm has a fifty day moving average price of $131.53 and a 200 day moving average price of $127.72.

Sun Communities (NYSE:SUI) last issued its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.20). The company had revenue of $939.90 million during the quarter, compared to analyst estimates of $980.41 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period last year, the firm earned $2.57 EPS. 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 declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend was Monday, September 30th. Sun Communities’s dividend payout ratio (DPR) is presently 202.15%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SUI shares. Royal Bank of Canada dropped their price objective on Sun Communities from $147.00 to $135.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Jefferies Financial Group began coverage on Sun Communities in a report on Thursday, October 17th. They set a “buy” rating and a $160.00 price objective for the company. UBS Group downgraded Sun Communities from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $155.00 to $134.00 in a research note on Thursday, November 14th. BMO Capital Markets lowered their price target on Sun Communities from $145.00 to $138.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Finally, Truist Financial upped their price objective on shares of Sun Communities from $127.00 to $138.00 and gave the company a “hold” rating in a report on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Sun Communities currently has an average rating of “Hold” and a consensus price target of $139.08.

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.