Private Management Group Inc. Sells 1,597 Shares of Sun Communities, Inc. (NYSE:SUI)

Private Management Group Inc. decreased its position in shares of Sun Communities, Inc. (NYSE:SUI) by 1.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 166,294 shares of the real estate investment trust’s stock after selling 1,597 shares during the period. Private Management Group Inc.’s holdings in Sun Communities were worth $20,449,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of SUI. Assetmark Inc. increased its holdings in Sun Communities by 2,111.1% during the 3rd quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 190 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Sun Communities during the third quarter worth $41,000. CKW Financial Group increased its stake in shares of Sun Communities by 45.0% in 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. Point72 Hong Kong Ltd bought a new position in shares of Sun Communities in the third quarter valued at about $60,000. Finally, Farther Finance Advisors LLC lifted its position in 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 buying an additional 236 shares in the last quarter. Institutional investors own 99.59% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Bank of America downgraded shares of Sun Communities from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $147.00 to $114.00 in a research note on Tuesday, November 12th. Jefferies Financial Group dropped their price objective on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Robert W. Baird lowered Sun Communities from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $145.00 to $126.00 in a research report on Thursday, November 7th. StockNews.com downgraded Sun Communities from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Finally, Truist Financial upgraded Sun Communities from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $134.55.

Sun Communities Trading Down 0.2 %

NYSE SUI opened at $126.30 on Thursday. Sun Communities, Inc. has a 12 month low of $110.98 and a 12 month high of $147.83. The stock has a 50-day simple moving average of $124.48 and a 200 day simple moving average of $129.63. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $16.09 billion, a PE ratio of 67.90 and a beta of 0.90.

Sun Communities (NYSE:SUI) last announced its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The company had revenue of $939.90 million during the quarter, compared to the consensus estimate of $980.41 million. During the same period last year, the company earned $2.57 earnings per share. The business’s revenue was down 4.4% compared to the same quarter last year. Research analysts forecast that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend was Tuesday, December 31st. Sun Communities’s payout ratio is presently 202.15%.

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.