Nuveen Asset Management LLC Has $93.46 Million Holdings in Sun Communities, Inc. (NYSE:SUI)

Nuveen Asset Management LLC lowered its holdings in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 24.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 760,005 shares of the real estate investment trust's stock after selling 244,551 shares during the period. Nuveen Asset Management LLC owned about 0.60% of Sun Communities worth $93,458,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Cohen & Steers Inc. increased its stake in Sun Communities by 30.3% in the fourth quarter. Cohen & Steers Inc. now owns 16,373,446 shares of the real estate investment trust's stock valued at $2,013,414,000 after acquiring an additional 3,811,528 shares during the period. Dodge & Cox boosted its holdings in Sun Communities by 61.1% during the fourth quarter. Dodge & Cox now owns 9,606,018 shares of the real estate investment trust's stock valued at $1,181,252,000 after purchasing an additional 3,644,853 shares in the last quarter. FMR LLC boosted its holdings in Sun Communities by 51.3% during the fourth quarter. FMR LLC now owns 7,917,870 shares of the real estate investment trust's stock valued at $973,660,000 after purchasing an additional 2,684,214 shares in the last quarter. Norges Bank acquired a new stake in Sun Communities during the fourth quarter valued at approximately $888,783,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Sun Communities by 19.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,549,540 shares of the real estate investment trust's stock valued at $682,429,000 after purchasing an additional 911,857 shares in the last quarter. Institutional investors own 99.59% of the company's stock.

Sun Communities Price Performance

NYSE SUI traded up $0.81 on Tuesday, hitting $124.22. 487,781 shares of the company were exchanged, compared to its average volume of 833,054. The firm has a 50 day moving average of $125.05 and a two-hundred day moving average of $125.88. The company has a market cap of $15.86 billion, a P/E ratio of 66.78 and a beta of 0.86. 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 $109.22 and a 1-year high of $147.83.

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, topping the consensus estimate of $1.18 by $0.08. The business had revenue of $470.20 million for the quarter, compared to the consensus estimate of $538.63 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The firm's quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.19 EPS. On average, equities analysts predict that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $3.76 dividend on an annualized basis and a yield of 3.03%. Sun Communities's payout ratio is presently 606.45%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SUI. Truist Financial decreased their price objective on Sun Communities from $142.00 to $135.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. JMP Securities reaffirmed a "market outperform" rating and issued a $140.00 target price on shares of Sun Communities in a report on Tuesday. Jefferies Financial Group began coverage on shares of Sun Communities in a report on Tuesday, April 8th. They issued a "buy" rating and a $150.00 target price on the stock. Bank of America upped their target price on shares of Sun Communities from $124.00 to $132.00 and gave the stock an "underperform" rating in a report on Monday, May 12th. Finally, 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 report 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 issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $138.70.

Sun Communities 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.