Vestcor Inc Buys 8,624 Shares of Sun Communities, Inc. (NYSE:SUI)

Vestcor Inc lifted its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 295.8% during the fourth quarter, Holdings Channel reports. The fund owned 11,539 shares of the real estate investment trust’s stock after buying an additional 8,624 shares during the quarter. Vestcor Inc’s holdings in Sun Communities were worth $1,419,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Assetmark Inc. raised its holdings 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 during the period. Brooklyn Investment Group bought a new stake in Sun Communities in the 3rd quarter valued at about $41,000. Smartleaf Asset Management LLC raised its stake in Sun Communities by 45.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 124 shares during the period. CKW Financial Group boosted its holdings in Sun Communities by 45.0% in the fourth quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock worth $53,000 after acquiring an additional 135 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in Sun Communities in the third quarter valued at approximately $60,000. 99.59% of the stock is owned by institutional investors.

Sun Communities Price Performance

Shares of NYSE SUI opened at $128.06 on Friday. 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 company has a market capitalization of $16.31 billion, a PE ratio of 68.85 and a beta of 0.90. The stock’s 50 day moving average price is $127.27 and its 200-day moving average price is $129.54. Sun Communities, Inc. has a twelve month low of $110.98 and a twelve month high of $147.83.

Sun Communities (NYSE:SUI) last posted its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.02. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The business had revenue of $745.90 million for the quarter, compared to analysts’ expectations of $724.68 million. On average, equities analysts anticipate that Sun Communities, Inc. will post 6.77 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company lowered their target price on Sun Communities from $154.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. Jefferies Financial Group lowered their price objective on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Truist Financial lifted their price objective on shares of Sun Communities from $136.00 to $142.00 and gave the company a “buy” rating in a report on Monday, March 10th. Royal Bank of Canada restated an “outperform” rating on shares of Sun Communities in a report on Friday, February 28th. Finally, StockNews.com downgraded Sun Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $135.55.

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.