Sun Communities, Inc. (NYSE:SUI) Shares Sold by Barclays PLC

Barclays PLC reduced its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 19.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,286 shares of the real estate investment trust’s stock after selling 30,447 shares during the period. Barclays PLC owned about 0.10% of Sun Communities worth $17,201,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of SUI. Victory Capital Management Inc. grew its stake in Sun Communities by 6.9% in the third quarter. Victory Capital Management Inc. now owns 77,203 shares of the real estate investment trust’s stock worth $10,434,000 after purchasing an additional 5,008 shares in the last quarter. FMR LLC raised its stake in Sun Communities by 37.6% during the third quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust’s stock valued at $707,329,000 after buying an additional 1,430,630 shares in the last quarter. KBC Group NV lifted its holdings in Sun Communities by 303.3% during the 3rd quarter. KBC Group NV now owns 109,939 shares of the real estate investment trust’s stock worth $14,858,000 after buying an additional 82,682 shares during the last quarter. AMG National Trust Bank acquired a new position in shares of Sun Communities in the 3rd quarter worth approximately $1,690,000. Finally, Swedbank AB increased its holdings in shares of Sun Communities by 52.8% in the 3rd quarter. Swedbank AB now owns 162,368 shares of the real estate investment trust’s stock valued at $21,944,000 after acquiring an additional 56,132 shares during the last quarter. Institutional investors own 99.59% of the company’s stock.

Sun Communities Stock Performance

Shares of SUI stock opened at $122.20 on Friday. Sun Communities, Inc. has a 12-month low of $110.98 and a 12-month 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 firm has a market capitalization of $15.57 billion, a price-to-earnings ratio of 65.70, a price-to-earnings-growth ratio of 0.51 and a beta of 0.88. The business has a 50 day simple moving average of $128.82 and a 200 day simple moving average of $128.20.

Sun Communities (NYSE:SUI) last released its quarterly earnings results 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). Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The business had revenue of $939.90 million during the quarter, compared to the consensus estimate of $980.41 million. During the same period in the previous year, the company posted $2.57 EPS. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. On average, equities research analysts anticipate that Sun Communities, Inc. will post 6.78 EPS for the current year.

Sun Communities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.94 per share. The ex-dividend date is Tuesday, December 31st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.08%. Sun Communities’s dividend payout ratio (DPR) is 202.15%.

Analyst Ratings Changes

SUI has been the topic of several research analyst reports. BMO Capital Markets reduced their price objective on Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Robert W. Baird downgraded shares of Sun Communities from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $145.00 to $126.00 in a research report on Thursday, November 7th. StockNews.com downgraded shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Baird R W cut shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Truist Financial decreased their target price on Sun Communities from $138.00 to $131.00 and set a “hold” rating for the company in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Sun Communities has a consensus rating of “Hold” and a consensus price target of $137.08.

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.