Hsbc Holdings PLC Sells 3,543 Shares of Sun Communities, Inc. (NYSE:SUI)

Hsbc Holdings PLC reduced its holdings in Sun Communities, Inc. (NYSE:SUI - Free Report) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 313,029 shares of the real estate investment trust's stock after selling 3,543 shares during the period. Hsbc Holdings PLC owned about 0.25% of Sun Communities worth $38,353,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Aster Capital Management DIFC Ltd increased its holdings in shares of Sun Communities by 263.6% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust's stock valued at $39,000 after acquiring an additional 232 shares during the last quarter. Smartleaf Asset Management LLC increased 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 acquiring an additional 124 shares during the period. CKW Financial Group grew its stake in shares of Sun Communities by 45.0% in the 4th quarter. CKW Financial Group now owns 435 shares of the real estate investment trust's stock valued at $53,000 after purchasing an additional 135 shares during the period. Natixis acquired a new position in Sun Communities during the fourth quarter worth $90,000. Finally, Quadrant Capital Group LLC lifted its holdings in Sun Communities by 17.2% during the 4th 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 during the last quarter. Institutional investors and hedge funds own 99.59% of the company's stock.

Sun Communities Stock Performance

NYSE:SUI traded up $4.85 during mid-day trading on Thursday, hitting $129.28. 626,486 shares of the stock were exchanged, compared to its average volume of 799,652. 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's 50-day simple moving average is $127.10 and its 200 day simple moving average is $126.80. Sun Communities, Inc. has a fifty-two week low of $109.22 and a fifty-two week high of $147.83. The stock has a market capitalization of $16.49 billion, a price-to-earnings ratio of 69.50 and a beta of 0.84.

Sun Communities (NYSE:SUI - Get Free Report) last announced its earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 EPS for the quarter, topping the consensus estimate of $1.39 by $0.02. The company had revenue of $745.90 million for the quarter, compared to analysts' expectations of $724.68 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. As a group, equities analysts anticipate that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend was Monday, March 31st. Sun Communities's dividend payout ratio (DPR) is presently 508.11%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SUI shares. Royal Bank of Canada restated an "outperform" rating on shares of Sun Communities in a report on Friday, February 28th. Truist Financial dropped their price objective on Sun Communities from $142.00 to $135.00 and set a "buy" rating for the company in a report on Thursday, April 10th. 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 price target for the company. Finally, JMP Securities reissued a "market outperform" rating and set a $140.00 target price (down 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 issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Sun Communities currently has an average rating of "Hold" and an average target price of $135.70.

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.