Woodline Partners LP Sells 75,179 Shares of Sun Communities, Inc. (NYSE:SUI)

Woodline Partners LP lowered its stake in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 34.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 141,838 shares of the real estate investment trust's stock after selling 75,179 shares during the quarter. Woodline Partners LP owned approximately 0.11% of Sun Communities worth $17,442,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of SUI. Cascade Investment Advisors Inc. raised its position in shares of Sun Communities by 0.8% in the fourth quarter. Cascade Investment Advisors Inc. now owns 10,373 shares of the real estate investment trust's stock valued at $1,276,000 after purchasing an additional 85 shares during the period. Utah Retirement Systems raised its stake in Sun Communities by 0.5% in the fourth quarter. Utah Retirement Systems now owns 20,503 shares of the real estate investment trust's stock valued at $2,521,000 after purchasing an additional 100 shares in the last quarter. Cetera Trust Company N.A raised its stake in Sun Communities by 6.0% in the fourth quarter. Cetera Trust Company N.A now owns 1,865 shares of the real estate investment trust's stock valued at $229,000 after purchasing an additional 105 shares in the last quarter. Quadrant Capital Group LLC raised its stake in Sun Communities by 17.2% in the fourth quarter. Quadrant Capital Group LLC now owns 837 shares of the real estate investment trust's stock valued at $103,000 after purchasing an additional 123 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in Sun Communities by 45.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust's stock valued at $49,000 after purchasing an additional 124 shares in the last quarter. Hedge funds and other institutional investors own 99.59% of the company's stock.

Sun Communities Trading Up 0.8%

Shares of NYSE SUI traded up $0.97 during mid-day trading on Friday, hitting $119.95. The stock had a trading volume of 613,054 shares, compared to its average volume of 835,797. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. Sun Communities, Inc. has a 1 year low of $109.22 and a 1 year high of $147.83. The business has a 50 day moving average price of $124.37 and a two-hundred day moving average price of $125.66. The firm has a market cap of $15.31 billion, a P/E ratio of 64.49 and a beta of 0.86.

Sun Communities (NYSE:SUI - Get Free Report) last issued its earnings results on Monday, May 5th. The real estate investment trust reported $1.26 EPS 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 company had revenue of $470.20 million for the quarter, compared to the consensus estimate of $538.63 million. During the same period in the previous year, the firm earned $1.19 earnings per share. The firm's revenue for the quarter was up .2% on a year-over-year basis. On average, equities analysts anticipate that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 3.13%. The ex-dividend date was Monday, March 31st. Sun Communities's payout ratio is 606.45%.

Analyst Ratings Changes

A number of brokerages recently weighed in on SUI. Truist Financial lowered their target price on shares of Sun Communities from $142.00 to $135.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Bank of America raised their target price on shares of Sun Communities from $124.00 to $132.00 and gave the company an "underperform" rating in a research note on Monday, May 12th. Royal Bank of Canada lowered their target price on shares of Sun Communities from $154.00 to $147.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Jefferies Financial Group initiated coverage on shares of Sun Communities in a research note on Tuesday, April 8th. They set a "buy" rating and a $150.00 price target on the stock. Finally, Robert W. Baird decreased their price target on shares of Sun Communities from $128.00 to $126.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Sun Communities has a consensus rating of "Hold" and an average target price of $138.70.

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.