American Assets Capital Advisers LLC Sells 1,054 Shares of Sun Communities, Inc. (NYSE:SUI)

American Assets Capital Advisers LLC decreased its position in Sun Communities, Inc. (NYSE:SUI) by 3.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,194 shares of the real estate investment trust’s stock after selling 1,054 shares during the quarter. Sun Communities accounts for approximately 1.4% of American Assets Capital Advisers LLC’s holdings, making the stock its 23rd largest holding. American Assets Capital Advisers LLC’s holdings in Sun Communities were worth $4,621,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Assetmark Inc. lifted its stake in Sun Communities by 2,111.1% in 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 boosted its holdings in Sun Communities by 12,700.0% during the second quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 381 shares during the last quarter. Farther Finance Advisors LLC grew its position in Sun Communities by 89.1% in the third quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock valued at $68,000 after purchasing an additional 236 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in Sun Communities in the 2nd quarter valued at $62,000. Finally, Blue Trust Inc. increased its stake in 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 buying an additional 436 shares during the last quarter. 99.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SUI. Truist Financial raised their price objective on Sun Communities from $127.00 to $138.00 and gave the company a “hold” rating in a report on Tuesday, August 13th. Jefferies Financial Group assumed coverage on Sun Communities in a research note on Thursday, October 17th. They issued a “buy” rating and a $160.00 price target for the company. Evercore ISI upped their price objective on Sun Communities from $149.00 to $150.00 and gave the stock an “in-line” rating in a research note on Monday, October 21st. Robert W. Baird cut shares of Sun Communities from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $145.00 to $126.00 in a research note on Thursday, November 7th. Finally, Wells Fargo & Company upped their price target on shares of Sun Communities from $123.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 19th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $139.50.

Sun Communities Stock Performance

Shares of SUI stock traded down $2.13 on Tuesday, hitting $124.99. The company’s stock had a trading volume of 439,729 shares, compared to its average volume of 827,183. Sun Communities, Inc. has a fifty-two week low of $110.98 and a fifty-two week high of $147.83. The company has a market capitalization of $15.58 billion, a PE ratio of 68.34, a PEG ratio of 0.96 and a beta of 0.91. The stock’s 50 day moving average is $135.16 and its 200-day moving average is $126.95. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.42 and a current ratio of 1.42.

Sun Communities (NYSE:SUI) last announced its earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.20). The business had revenue of $939.90 million for the quarter, compared to the consensus estimate of $980.41 million. Sun Communities had a return on equity of 3.26% and a net margin of 7.46%. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.57 earnings per share. Equities research analysts expect that Sun Communities, Inc. will post 6.76 earnings per share for the current fiscal year.

Sun Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend was Monday, September 30th. Sun Communities’s dividend payout ratio (DPR) is currently 202.15%.

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.