Cerity Partners LLC Purchases 11,305 Shares of Sun Communities, Inc. (NYSE:SUI)

Cerity Partners LLC increased its position in Sun Communities, Inc. (NYSE:SUI) by 56.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,346 shares of the real estate investment trust’s stock after buying an additional 11,305 shares during the quarter. Cerity Partners LLC’s holdings in Sun Communities were worth $4,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of SUI. Assetmark Inc. lifted its position in Sun Communities by 2,111.1% in the 3rd quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 190 shares during the last quarter. Quest Partners LLC lifted its position in Sun Communities by 12,700.0% in the 2nd quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 381 shares during the last quarter. 1620 Investment Advisors Inc. bought a new stake in Sun Communities in the second quarter valued at approximately $62,000. Farther Finance Advisors LLC lifted its position in Sun Communities by 89.1% in the third quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock valued at $68,000 after purchasing an additional 236 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in Sun Communities by 230.7% in the third quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock valued at $84,000 after purchasing an additional 436 shares during the last quarter. Institutional investors own 99.59% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on SUI shares. Robert W. Baird downgraded Sun Communities from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $145.00 to $126.00 in a research report on Thursday, November 7th. Evercore ISI boosted their price objective on Sun Communities from $149.00 to $150.00 and gave the company an “in-line” rating in a research report on Monday, October 21st. Wells Fargo & Company boosted their price objective on Sun Communities from $123.00 to $154.00 and gave the company an “equal weight” rating in a research report on Thursday, September 19th. Baird R W downgraded Sun Communities from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, StockNews.com downgraded Sun Communities from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Sun Communities currently has a consensus rating of “Hold” and a consensus price target of $139.08.

Sun Communities Price Performance

Shares of SUI stock opened at $126.33 on Friday. The stock has a market cap of $16.09 billion, a price-to-earnings ratio of 67.92, a PEG ratio of 0.54 and a beta of 0.91. The business’s fifty day moving average is $130.92 and its 200 day moving average is $127.79. Sun Communities, Inc. has a twelve month low of $110.98 and a twelve month 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.

Sun Communities (NYSE:SUI) last issued its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.20). The firm had revenue of $939.90 million during the quarter, compared to analysts’ expectations of $980.41 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. Sun Communities’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.57 earnings per share. Research analysts expect that Sun Communities, Inc. will post 6.78 EPS for the current fiscal year.

Sun Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.94 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.98%. Sun Communities’s dividend payout ratio is currently 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.