Vestcor Inc Purchases 8,624 Shares of Sun Communities, Inc. (NYSE:SUI)

Vestcor Inc boosted its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 295.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,539 shares of the real estate investment trust’s stock after purchasing an additional 8,624 shares during the period. Vestcor Inc’s holdings in Sun Communities were worth $1,419,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. FMR LLC lifted its position in shares of Sun Communities by 37.6% during the 3rd quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust’s stock worth $707,329,000 after buying an additional 1,430,630 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Sun Communities by 1,061.4% during the third 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 worth $178,868,000 after acquiring an additional 1,209,522 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Sun Communities by 23.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 2,344,020 shares of the real estate investment trust’s stock worth $288,244,000 after acquiring an additional 442,557 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of Sun Communities by 58.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 959,879 shares of the real estate investment trust’s stock valued at $129,728,000 after purchasing an additional 355,427 shares in the last quarter. Finally, Adelante Capital Management LLC grew its holdings in shares of Sun Communities by 168.7% during the 3rd 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 and hedge funds own 99.59% of the company’s stock.

Sun Communities Stock Performance

NYSE:SUI opened at $128.06 on Friday. 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 50 day simple moving average of $127.27 and a two-hundred day simple moving average of $129.54. The company has a market capitalization of $16.31 billion, a PE ratio of 68.85 and a beta of 0.90.

Sun Communities (NYSE:SUI) last posted its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.02. The company had revenue of $745.90 million during 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%. Research analysts anticipate that Sun Communities, Inc. will post 6.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SUI shares. StockNews.com lowered shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Jefferies Financial Group cut their price objective on Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Wells Fargo & Company lowered their target price on Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Truist Financial lifted their price target on Sun Communities from $136.00 to $142.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating on shares of Sun Communities in a research note on Friday, February 28th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $135.55.

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.