BNP Paribas Financial Markets Sells 28,633 Shares of Sun Communities, Inc. (NYSE:SUI)

BNP Paribas Financial Markets lowered its position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 27.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,470 shares of the real estate investment trust's stock after selling 28,633 shares during the period. BNP Paribas Financial Markets owned 0.06% of Sun Communities worth $9,526,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd increased its stake in shares of Sun Communities by 263.6% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust's stock worth $39,000 after purchasing an additional 232 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Sun Communities by 45.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust's stock worth $49,000 after purchasing an additional 124 shares during the period. CKW Financial Group increased its stake in shares of Sun Communities by 45.0% during the fourth quarter. CKW Financial Group now owns 435 shares of the real estate investment trust's stock worth $53,000 after purchasing an additional 135 shares during the period. Natixis bought a new position in shares of Sun Communities during the fourth quarter worth approximately $90,000. Finally, Quadrant Capital Group LLC increased its stake in shares of Sun Communities by 17.2% during the fourth quarter. Quadrant Capital Group LLC now owns 837 shares of the real estate investment trust's stock worth $103,000 after purchasing an additional 123 shares during the period. Institutional investors own 99.59% of the company's stock.

Sun Communities Trading Up 1.6%

Shares of SUI opened at $125.53 on Monday. Sun Communities, Inc. has a 52-week low of $109.22 and a 52-week high of $147.83. The business's fifty day moving average is $126.09 and its 200-day moving average is $126.27. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. The firm has a market cap of $16.02 billion, a price-to-earnings ratio of 67.49 and a beta of 0.86.

Sun Communities (NYSE:SUI - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.08. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The company had revenue of $470.20 million for the quarter, compared to analyst estimates of $538.63 million. During the same quarter last year, the company posted $1.19 EPS. The company's revenue for the quarter was up .2% compared to the same quarter last year. Equities analysts anticipate that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.94 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $3.76 annualized dividend and a dividend yield of 3.00%. Sun Communities's payout ratio is 606.45%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SUI shares. Royal Bank of Canada lowered their price objective on Sun Communities from $154.00 to $147.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Robert W. Baird lowered their price objective on Sun Communities from $128.00 to $126.00 and set a "neutral" rating on the stock in a research note on Thursday. JMP Securities restated a "market outperform" rating and set a $140.00 price objective (down previously from $150.00) on shares of Sun Communities in a research note on Monday, April 21st. Truist Financial lowered their price objective on Sun Communities from $142.00 to $135.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Finally, Jefferies Financial Group started coverage on Sun Communities in a research note on Tuesday, April 8th. They set a "buy" rating and a $150.00 price objective on the stock. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $136.90.

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.

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