Vert Asset Management LLC Has $6.90 Million Holdings in Sun Communities, Inc. (NYSE:SUI)

Vert Asset Management LLC boosted its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 9.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,083 shares of the real estate investment trust’s stock after purchasing an additional 5,060 shares during the period. Sun Communities accounts for approximately 2.4% of Vert Asset Management LLC’s holdings, making the stock its 15th largest holding. Vert Asset Management LLC’s holdings in Sun Communities were worth $6,897,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of SUI. FMR LLC increased its stake in shares of Sun Communities by 37.6% in the third quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust’s stock valued at $707,329,000 after buying an additional 1,430,630 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Sun Communities by 1,061.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,323,479 shares of the real estate investment trust’s stock valued at $178,868,000 after acquiring an additional 1,209,522 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Sun Communities by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,075,541 shares of the real estate investment trust’s stock worth $145,359,000 after acquiring an additional 3,254 shares during the last quarter. Westfield Capital Management Co. LP lifted its position in shares of Sun Communities by 58.8% during the third quarter. Westfield Capital Management Co. LP now owns 959,879 shares of the real estate investment trust’s stock worth $129,728,000 after purchasing an additional 355,427 shares in the last quarter. Finally, Adelante Capital Management LLC grew its stake in shares of Sun Communities by 168.7% during the third quarter. Adelante Capital Management LLC now owns 559,129 shares of the real estate investment trust’s stock valued at $75,566,000 after purchasing an additional 351,017 shares during the last quarter. Institutional investors own 99.59% of the company’s stock.

Sun Communities Price Performance

SUI opened at $131.19 on Tuesday. The stock has a market cap of $16.71 billion, a P/E ratio of 70.53, a P/E/G ratio of 0.51 and a beta of 0.89. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. The company has a fifty day simple moving average of $124.52 and a 200 day simple moving average of $129.56. Sun Communities, Inc. has a 12 month low of $110.98 and a 12 month high of $147.83.

Sun Communities (NYSE:SUI) last posted its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $2.31 EPS for the quarter, missing the consensus estimate 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 in the prior year, the firm posted $2.57 earnings per share. The company’s revenue was down 4.4% compared to the same quarter last year. On average, research analysts expect that Sun Communities, Inc. will post 6.78 EPS for the current year.

Sun Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend was Tuesday, December 31st. Sun Communities’s dividend payout ratio is presently 202.15%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SUI. Baird R W cut shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Robert W. Baird lowered Sun Communities from an “outperform” rating to a “neutral” rating and cut their price target for the company from $145.00 to $126.00 in a research note on Thursday, November 7th. Wells Fargo & Company lowered their price objective on Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. Evercore ISI upped their target price on shares of Sun Communities from $149.00 to $150.00 and gave the company an “in-line” rating in a research report on Monday, October 21st. Finally, Bank of America cut shares of Sun Communities from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $147.00 to $114.00 in a research report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $134.08.

Sun Communities Company 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.