Zurcher Kantonalbank Zurich Cantonalbank Has $12.03 Million Position in Sun Communities, Inc. (NYSE:SUI)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 35.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 97,831 shares of the real estate investment trust’s stock after acquiring an additional 25,425 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Sun Communities were worth $12,030,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SUI. Farther Finance Advisors LLC increased its holdings in shares of Sun Communities by 89.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock worth $68,000 after acquiring an additional 236 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Sun Communities by 2,111.1% during the 3rd quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 190 shares during the last quarter. Entropy Technologies LP boosted its stake in Sun Communities by 44.4% in the 3rd quarter. Entropy Technologies LP now owns 12,685 shares of the real estate investment trust’s stock valued at $1,714,000 after purchasing an additional 3,903 shares during the period. Victory Capital Management Inc. boosted its stake in Sun Communities by 6.9% in the 3rd quarter. Victory Capital Management Inc. now owns 77,203 shares of the real estate investment trust’s stock valued at $10,434,000 after purchasing an additional 5,008 shares during the period. Finally, KBC Group NV boosted its stake in Sun Communities by 303.3% in the 3rd quarter. KBC Group NV now owns 109,939 shares of the real estate investment trust’s stock valued at $14,858,000 after purchasing an additional 82,682 shares during the period. 99.59% of the stock is owned by institutional investors and hedge funds.

Sun Communities Stock Performance

NYSE:SUI opened at $128.21 on Thursday. 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 fifty-two week low of $110.98 and a fifty-two week high of $147.83. The company has a market cap of $16.33 billion, a price-to-earnings ratio of 68.93 and a beta of 0.90. The stock has a fifty day moving average price of $127.14 and a 200-day moving average price of $129.63.

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SUI. StockNews.com downgraded Sun Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Jefferies Financial Group reduced their price target on Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. UBS Group downgraded Sun Communities from a “buy” rating to a “neutral” rating and reduced their price target for the company from $155.00 to $134.00 in a research note on Thursday, November 14th. Royal Bank of Canada restated an “outperform” rating on shares of Sun Communities in a research note on Friday, February 28th. Finally, Wells Fargo & Company reduced their price target on Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $135.55.

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.