Tower Research Capital LLC TRC Trims Position in Sun Communities, Inc. (NYSE:SUI)

Tower Research Capital LLC TRC lessened its stake in Sun Communities, Inc. (NYSE:SUI - Free Report) by 92.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 754 shares of the real estate investment trust's stock after selling 9,598 shares during the quarter. Tower Research Capital LLC TRC's holdings in Sun Communities were worth $93,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in SUI. Aster Capital Management DIFC Ltd grew its stake in Sun Communities by 263.6% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust's stock worth $39,000 after acquiring an additional 232 shares during the period. Smartleaf Asset Management LLC grew its position in Sun Communities by 45.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust's stock valued at $49,000 after buying an additional 124 shares in the last quarter. CKW Financial Group boosted 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 valued at $53,000 after buying an additional 135 shares in the last quarter. Natixis acquired a new position in Sun Communities in the fourth quarter worth approximately $90,000. Finally, Quadrant Capital Group LLC lifted its holdings in shares of Sun Communities by 17.2% during 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 during the last quarter. Hedge funds and other institutional investors own 99.59% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SUI. Robert W. Baird reduced their price target on shares of Sun Communities from $128.00 to $126.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Jefferies Financial Group began 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 for the company. Bank of America lifted their price target on shares of Sun Communities from $124.00 to $132.00 and gave the stock an "underperform" rating in a research report on Monday. JMP Securities reissued a "market outperform" rating and issued a $140.00 price target (down previously from $150.00) on shares of Sun Communities in a research note on Monday, April 21st. Finally, Truist Financial reduced their target price on shares of Sun Communities from $142.00 to $135.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Sun Communities has an average rating of "Hold" and a consensus price target of $138.70.

Sun Communities Stock Performance

NYSE SUI traded up $1.32 during trading hours on Thursday, hitting $119.94. The company's stock had a trading volume of 181,448 shares, compared to its average volume of 833,808. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. The company's 50 day simple moving average is $125.48 and its two-hundred day simple moving average is $126.15. The company has a market cap of $15.31 billion, a P/E ratio of 64.42 and a beta of 0.86. Sun Communities, Inc. has a 12 month low of $109.22 and a 12 month high of $147.83.

Sun Communities (NYSE:SUI - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.08. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The firm had revenue of $470.20 million during the quarter, compared to analyst estimates of $538.63 million. During the same quarter in the previous year, the business earned $1.19 EPS. Sun Communities's revenue for the quarter was up .2% compared to the same quarter last year. As a group, sell-side analysts expect that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Dividend Announcement

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

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.