Sun Communities, Inc. (NYSE:SUI) Shares Sold by Banco Santander S.A.

Banco Santander S.A. reduced its holdings in Sun Communities, Inc. (NYSE:SUI) by 38.6% during the fourth quarter, Holdings Channel reports. The firm owned 3,509 shares of the real estate investment trust’s stock after selling 2,203 shares during the period. Banco Santander S.A.’s holdings in Sun Communities were worth $432,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Candriam S.C.A. increased its holdings in shares of Sun Communities by 32.2% in the fourth quarter. Candriam S.C.A. now owns 7,390 shares of the real estate investment trust’s stock valued at $909,000 after buying an additional 1,798 shares in the last quarter. Freestone Capital Holdings LLC grew its holdings in shares of Sun Communities by 25.1% in the 4th quarter. Freestone Capital Holdings LLC now owns 19,778 shares of the real estate investment trust’s stock worth $2,432,000 after acquiring an additional 3,969 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Sun Communities during the fourth quarter worth $16,051,000. Arizona State Retirement System raised its position in shares of Sun Communities by 1.4% during the fourth quarter. Arizona State Retirement System now owns 36,210 shares of the real estate investment trust’s stock worth $4,453,000 after purchasing an additional 502 shares during the period. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Sun Communities during the fourth quarter valued at $5,913,000. 99.59% of the stock is owned by institutional investors and hedge funds.

Sun Communities Price Performance

Shares of NYSE:SUI opened at $131.50 on Tuesday. The business has a fifty day simple moving average of $126.90 and a 200 day simple moving average of $129.66. 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, Inc. has a 1 year low of $110.98 and a 1 year high of $147.83. The firm has a market cap of $16.75 billion, a price-to-earnings ratio of 70.70 and a beta of 0.90.

Sun Communities (NYSE:SUI) last posted its quarterly earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. The company had revenue of $745.90 million during the quarter, compared to the consensus estimate of $724.68 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. As a group, sell-side analysts predict that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SUI has been the topic of a number of analyst reports. Bank of America cut Sun Communities from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $147.00 to $114.00 in a research note on Tuesday, November 12th. Royal Bank of Canada reissued an “outperform” rating on shares of Sun Communities in a research report on Friday, February 28th. Wells Fargo & Company reduced their price target on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. UBS Group downgraded shares of Sun Communities from a “buy” rating to a “neutral” rating and cut their target price for the company from $155.00 to $134.00 in a research note on Thursday, November 14th. Finally, Jefferies Financial Group reduced their target price on Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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.