Quantinno Capital Management LP Increases Holdings in Sun Communities, Inc. (NYSE:SUI)

Quantinno Capital Management LP lifted its stake in Sun Communities, Inc. (NYSE:SUI) by 22.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,695 shares of the real estate investment trust’s stock after purchasing an additional 1,390 shares during the quarter. Quantinno Capital Management LP’s holdings in Sun Communities were worth $1,040,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of SUI. FMR LLC increased its position in shares of 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 acquiring an additional 1,430,630 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Sun Communities by 3.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,949,862 shares of the real estate investment trust’s stock valued at $354,986,000 after purchasing an additional 111,569 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of Sun Communities by 24.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 2,195,884 shares of the real estate investment trust’s stock worth $264,253,000 after buying an additional 424,842 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Sun Communities by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,784,547 shares of the real estate investment trust’s stock valued at $214,752,000 after acquiring an additional 10,592 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Sun Communities by 1,061.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,323,479 shares of the real estate investment trust’s stock worth $178,868,000 after purchasing an additional 1,209,522 shares during the period. 99.59% of the stock is currently owned by institutional investors.

Sun Communities Stock Up 1.7 %

Sun Communities stock opened at $123.20 on Friday. Sun Communities, Inc. has a 52 week low of $110.98 and a 52 week high of $147.83. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. The business’s 50-day moving average price is $129.13 and its 200 day moving average price is $128.11. The firm has a market cap of $15.69 billion, a price-to-earnings ratio of 65.95, a price-to-earnings-growth ratio of 0.52 and a beta of 0.88.

Sun Communities (NYSE:SUI) last released its earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). The business 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%. Sun Communities’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.57 EPS. As a group, sell-side analysts anticipate that Sun Communities, Inc. will post 6.78 earnings per share for the current year.

Sun Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.76 annualized dividend and a dividend yield of 3.05%. Sun Communities’s dividend payout ratio is presently 202.15%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Baird R W cut Sun Communities from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Evercore ISI boosted their target price on shares of Sun Communities from $149.00 to $150.00 and gave the stock an “in-line” rating in a report on Monday, October 21st. Royal Bank of Canada lowered their target price on shares of Sun Communities from $147.00 to $135.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Truist Financial reduced their target price on Sun Communities from $138.00 to $131.00 and set a “hold” rating on the stock in a research note on Wednesday. Finally, Bank of America lowered Sun Communities from a “neutral” rating to an “underperform” rating and cut their price target for the company from $147.00 to $114.00 in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $137.08.

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.