Sun Communities, Inc. (NYSE:SUI) is Vision Capital Corp’s 3rd Largest Position

Vision Capital Corp lowered its position in shares of Sun Communities, Inc. (NYSE:SUI) by 26.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 274,860 shares of the real estate investment trust’s stock after selling 98,933 shares during the period. Sun Communities comprises approximately 6.0% of Vision Capital Corp’s holdings, making the stock its 3rd largest holding. Vision Capital Corp owned about 0.22% of Sun Communities worth $37,147,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in SUI. Assetmark Inc. boosted its position in Sun Communities by 2,111.1% during the 3rd quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 190 shares in the last quarter. Quest Partners LLC raised 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 worth $46,000 after buying an additional 381 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new stake in Sun Communities during the 2nd quarter valued at approximately $62,000. Farther Finance Advisors LLC boosted 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 last quarter. Finally, Blue Trust Inc. boosted its holdings 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 valued at $84,000 after acquiring an additional 436 shares during the last quarter. 99.59% of the stock is currently owned by institutional investors.

Sun Communities Stock Down 0.8 %

SUI stock opened at $127.46 on Monday. The company has a market cap of $16.24 billion, a price-to-earnings ratio of 68.53, a PEG ratio of 0.54 and a beta of 0.91. The firm has a 50-day moving average of $132.51 and a two-hundred day moving average of $127.57. Sun Communities, Inc. has a 12 month low of $110.98 and a 12 month high of $147.83. 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 (NYSE:SUI) last announced its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $2.31 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). The company had revenue of $939.90 million for the quarter, compared to analysts’ expectations of $980.41 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.57 EPS. As a group, analysts forecast that Sun Communities, Inc. will post 6.78 earnings per share for the current fiscal year.

Sun Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend was Monday, September 30th. Sun Communities’s dividend payout ratio is currently 202.15%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SUI. Baird R W downgraded shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Bank of America lowered Sun Communities from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $147.00 to $114.00 in a report on Tuesday, November 12th. Wells Fargo & Company upped their price objective on Sun Communities from $123.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 19th. Robert W. Baird lowered shares of Sun Communities from an “outperform” rating to a “neutral” rating and cut their target price for the company from $145.00 to $126.00 in a report on Thursday, November 7th. Finally, UBS Group lowered Sun Communities from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $155.00 to $134.00 in a report on Thursday, November 14th. 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, the company currently has a consensus rating of “Hold” and an average 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.