Focus Partners Advisor Solutions LLC Sells 3,476 Shares of Sun Communities, Inc. (NYSE:SUI)

Focus Partners Advisor Solutions LLC lessened its stake in Sun Communities, Inc. (NYSE:SUI - Free Report) by 23.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,455 shares of the real estate investment trust's stock after selling 3,476 shares during the period. Focus Partners Advisor Solutions LLC's holdings in Sun Communities were worth $1,409,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Park Avenue Securities LLC boosted its holdings in Sun Communities by 4.4% in the fourth quarter. Park Avenue Securities LLC now owns 4,811 shares of the real estate investment trust's stock valued at $592,000 after acquiring an additional 203 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in shares of Sun Communities by 20.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,559 shares of the real estate investment trust's stock worth $192,000 after purchasing an additional 267 shares during the period. Fifth Third Bancorp boosted its stake in shares of Sun Communities by 18.0% in the 4th quarter. Fifth Third Bancorp now owns 6,544 shares of the real estate investment trust's stock valued at $805,000 after purchasing an additional 996 shares during the last quarter. Blue Trust Inc. increased its position in shares of Sun Communities by 86.2% during the fourth quarter. Blue Trust Inc. now owns 1,164 shares of the real estate investment trust's stock worth $157,000 after buying an additional 539 shares during the period. Finally, CKW Financial Group raised its stake in 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 buying an additional 135 shares during the last quarter. Institutional investors and hedge funds own 99.59% of the company's stock.

Sun Communities Price Performance

Shares of NYSE:SUI opened at $118.98 on Friday. Sun Communities, Inc. has a twelve month low of $109.22 and a twelve month high of $147.83. The stock's 50 day moving average is $124.62 and its 200-day moving average is $125.76. 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 firm has a market capitalization of $15.19 billion, a price-to-earnings ratio of 63.97 and a beta of 0.86.

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

Sun Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.94 dividend. The ex-dividend date was Monday, March 31st. This represents a $3.76 annualized dividend and a yield of 3.16%. Sun Communities's payout ratio is 606.45%.

Analyst Upgrades and Downgrades

A number of analysts have commented on SUI shares. Bank of America upped their price target on shares of Sun Communities from $124.00 to $132.00 and gave the company an "underperform" rating in a research report on Monday, May 12th. Truist Financial dropped 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. Robert W. Baird decreased their target price on Sun Communities from $128.00 to $126.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. JMP Securities reiterated a "market outperform" rating and issued a $140.00 target price on shares of Sun Communities in a report on Tuesday. Finally, Jefferies Financial Group initiated coverage on Sun Communities in a research note on Tuesday, April 8th. They issued a "buy" rating and a $150.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Sun Communities has a consensus rating of "Hold" and a consensus target price of $138.70.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.