SG Americas Securities LLC Trims Stock Position in Sun Communities, Inc. (NYSE:SUI)

SG Americas Securities LLC lessened its holdings in shares of Sun Communities, Inc. (NYSE:SUIGet Rating) by 23.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,529 shares of the real estate investment trust’s stock after selling 1,358 shares during the period. SG Americas Securities LLC’s holdings in Sun Communities were worth $794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. raised its holdings in shares of Sun Communities by 8.7% during the fourth quarter. BlackRock Inc. now owns 10,530,070 shares of the real estate investment trust’s stock worth $2,210,997,000 after purchasing an additional 845,015 shares during the last quarter. State Street Corp grew its position in Sun Communities by 7.1% during the fourth quarter. State Street Corp now owns 5,055,923 shares of the real estate investment trust’s stock valued at $1,065,724,000 after buying an additional 336,953 shares during the period. JPMorgan Chase & Co. grew its position in Sun Communities by 4.8% during the fourth quarter. JPMorgan Chase & Co. now owns 4,884,479 shares of the real estate investment trust’s stock valued at $1,025,594,000 after buying an additional 223,492 shares during the period. Principal Financial Group Inc. grew its position in Sun Communities by 1.0% during the fourth quarter. Principal Financial Group Inc. now owns 4,263,848 shares of the real estate investment trust’s stock valued at $893,738,000 after buying an additional 43,611 shares during the period. Finally, Norges Bank acquired a new stake in Sun Communities during the fourth quarter valued at $416,128,000.

Sun Communities Stock Down 0.8 %

Shares of NYSE SUI opened at $162.60 on Tuesday. The firm has a market cap of $20.05 billion, a price-to-earnings ratio of 59.56, a price-to-earnings-growth ratio of 2.55 and a beta of 0.61. Sun Communities, Inc. has a 52-week low of $148.64 and a 52-week high of $211.79. The company’s 50-day simple moving average is $160.09 and its 200-day simple moving average is $172.77. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.89.

Sun Communities (NYSE:SUIGet Rating) last posted its quarterly earnings results on Monday, July 25th. The real estate investment trust reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.19). Sun Communities had a return on equity of 4.42% and a net margin of 12.33%. During the same quarter last year, the business earned $1.80 EPS. Equities analysts predict that Sun Communities, Inc. will post 7.26 EPS for the current fiscal year.

Sun Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were given a dividend of $0.88 per share. The ex-dividend date was Wednesday, June 29th. This represents a $3.52 dividend on an annualized basis and a yield of 2.16%. Sun Communities’s payout ratio is presently 128.94%.

Insider Buying and Selling

In related news, Director Clunet R. Lewis sold 4,400 shares of the business’s stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $153.39, for a total transaction of $674,916.00. Following the transaction, the director now directly owns 26,400 shares in the company, valued at $4,049,496. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.25% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SUI has been the topic of several analyst reports. Truist Financial initiated coverage on shares of Sun Communities in a research report on Tuesday, May 10th. They set a “buy” rating and a $185.00 price target on the stock. Wolfe Research initiated coverage on shares of Sun Communities in a research report on Friday, July 15th. They set a “peer perform” rating on the stock. Barclays dropped their price target on shares of Sun Communities from $230.00 to $210.00 and set an “overweight” rating on the stock in a research report on Friday, July 1st. StockNews.com lowered shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Thursday, May 5th. Finally, Evercore ISI set a $194.00 target price on shares of Sun Communities in a research report on Monday, June 20th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Sun Communities presently has a consensus rating of “Moderate Buy” and an average target price of $203.75.

About Sun Communities

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Sun Communities, Inc is a REIT that, as of March 31, 2022, owned, operated, or had an interest in a portfolio of 603 developed MH, RV and marina properties comprising nearly 159,300 developed sites and over 45,700 wet slips and dry storage spaces in 39 states, Canada, Puerto Rico and the UK.

See Also

Institutional Ownership by Quarter for Sun Communities (NYSE:SUI)

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