Gotham Asset Management LLC Cuts Stock Position in Sun Communities, Inc. (NYSE:SUI)

Gotham Asset Management LLC trimmed its position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 11.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 40,050 shares of the real estate investment trust's stock after selling 5,293 shares during the quarter. Gotham Asset Management LLC's holdings in Sun Communities were worth $4,925,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Ethic Inc. grew its position in Sun Communities by 13.3% during the 4th quarter. Ethic Inc. now owns 7,346 shares of the real estate investment trust's stock valued at $903,000 after purchasing an additional 863 shares during the last quarter. Deutsche Bank AG lifted its stake in Sun Communities by 398.5% during the 4th quarter. Deutsche Bank AG now owns 791,003 shares of the real estate investment trust's stock valued at $97,270,000 after acquiring an additional 632,331 shares during the period. Cresset Asset Management LLC lifted its stake in Sun Communities by 13.7% during the 4th quarter. Cresset Asset Management LLC now owns 3,830 shares of the real estate investment trust's stock valued at $474,000 after acquiring an additional 461 shares during the period. BROOKFIELD Corp ON bought a new position in Sun Communities during the 4th quarter valued at about $8,420,000. Finally, Captrust Financial Advisors lifted its stake in Sun Communities by 3.7% during the 4th quarter. Captrust Financial Advisors now owns 3,627 shares of the real estate investment trust's stock valued at $446,000 after acquiring an additional 128 shares during the period. 99.59% of the stock is owned by hedge funds and other institutional investors.

Sun Communities Stock Performance

NYSE SUI traded up $2.22 on Friday, reaching $123.43. 576,349 shares of the stock were exchanged, compared to its average volume of 836,645. Sun Communities, Inc. has a one year low of $109.22 and a one year high of $147.83. The firm has a market capitalization of $15.75 billion, a PE ratio of 66.36 and a beta of 0.86. The company's 50-day simple moving average is $125.14 and its two-hundred day simple moving average is $126.02. 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 (NYSE:SUI - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $1.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.08. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The business had revenue of $470.20 million during the quarter, compared to analyst estimates of $538.63 million. During the same period last year, the firm posted $1.19 EPS. The company's revenue was up .2% on a year-over-year basis. Analysts expect that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date was Monday, March 31st. Sun Communities's dividend payout ratio (DPR) is presently 606.45%.

Analyst Ratings Changes

SUI has been the topic of several research analyst reports. 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. 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. Robert W. Baird lowered their target price 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. Bank of America increased their price objective on shares of Sun Communities from $124.00 to $132.00 and gave the stock an "underperform" rating in a research note on Monday, May 12th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $140.00 price objective (down previously from $150.00) on shares of Sun Communities in a research note on Monday, April 21st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target 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.