Amundi lowered its holdings in Sun Communities, Inc. (NYSE:SUI - Free Report) by 33.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 156,603 shares of the real estate investment trust's stock after selling 78,585 shares during the quarter. Amundi owned approximately 0.12% of Sun Communities worth $19,206,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of SUI. FMR LLC grew its stake in 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 purchasing 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 shares of Sun Communities by 1,061.4% during 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 worth $178,868,000 after acquiring an additional 1,209,522 shares in the last quarter. Westfield Capital Management Co. LP lifted its position in 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 valued at $129,728,000 after acquiring an additional 355,427 shares during the last quarter. Adelante Capital Management LLC boosted its stake in Sun Communities by 168.7% in 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 acquiring an additional 351,017 shares in the last quarter. Finally, abrdn plc grew its holdings in Sun Communities by 343.5% in the fourth quarter. abrdn plc now owns 277,988 shares of the real estate investment trust's stock worth $34,098,000 after purchasing an additional 215,314 shares during the last quarter. Hedge funds and other institutional investors own 99.59% of the company's stock.
Shares of SUI traded up $2.44 during midday trading on Friday, reaching $128.06. The company had a trading volume of 860,190 shares, compared to its average volume of 789,629. Sun Communities, Inc. has a 1-year low of $110.98 and a 1-year high of $147.83. 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 firm has a 50 day simple moving average of $127.21 and a 200-day simple moving average of $129.60. The stock has a market cap of $16.31 billion, a PE ratio of 68.85 and a beta of 0.90.
Sun Communities (NYSE:SUI - Get Free Report) last posted its earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.02. The company had revenue of $745.90 million for the quarter, compared to analyst estimates of $724.68 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. Research analysts forecast that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.
Several brokerages recently issued reports on SUI. Jefferies Financial Group reduced their target price on Sun Communities from $145.00 to $142.00 and set a "buy" rating on the stock in a research report on Thursday, January 2nd. Wells Fargo & Company decreased their target price on shares of 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. UBS Group cut shares of Sun Communities from a "buy" rating to a "neutral" rating and decreased their target price for the company from $155.00 to $134.00 in a research note on Thursday, November 14th. StockNews.com cut shares of Sun Communities from a "hold" rating to a "sell" rating in a research note on Wednesday, November 20th. Finally, Royal Bank of Canada restated an "outperform" rating on shares of Sun Communities in a research report on Friday, February 28th. 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 company's stock. According to data from MarketBeat.com, Sun Communities presently has a consensus rating of "Hold" and an average price target of $135.55.
Read Our Latest Research Report on SUI
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.
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