Amalgamated Bank Decreases Stock Holdings in Sun Communities, Inc. (NYSE:SUI)

Amalgamated Bank lowered its holdings in Sun Communities, Inc. (NYSE:SUI) by 4.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,481 shares of the real estate investment trust’s stock after selling 276 shares during the period. Amalgamated Bank’s holdings in Sun Communities were worth $876,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in SUI. Quest Partners LLC increased its holdings 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 valued at $46,000 after purchasing an additional 381 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of 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 buying an additional 236 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of Sun Communities during the 2nd quarter valued at about $62,000. Blue Trust Inc. raised its holdings in shares of Sun Communities by 230.7% during the 3rd quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock valued at $84,000 after buying an additional 436 shares during the period. Finally, Crewe Advisors LLC acquired a new position in Sun Communities during the 1st quarter worth approximately $90,000. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SUI. Royal Bank of Canada lowered their price objective on shares of Sun Communities from $147.00 to $135.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Evercore ISI raised their price target on shares of Sun Communities from $149.00 to $150.00 and gave the company an “in-line” rating in a report on Monday, October 21st. BMO Capital Markets cut their price objective on shares of Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Wells Fargo & Company raised their target price on Sun Communities from $123.00 to $154.00 and gave the company an “equal weight” rating in a research note on Thursday, September 19th. Finally, Truist Financial boosted their price target on Sun Communities from $127.00 to $138.00 and gave the stock a “hold” rating in a research note on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Sun Communities currently has a consensus rating of “Hold” and a consensus target price of $139.08.

Sun Communities Price Performance

Shares of NYSE SUI opened at $124.08 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $15.81 billion, a price-to-earnings ratio of 67.28, a price-to-earnings-growth ratio of 0.95 and a beta of 0.91. Sun Communities, Inc. has a twelve month low of $110.98 and a twelve month high of $147.83. The business has a 50 day simple moving average of $134.73 and a 200-day simple moving average of $126.98.

Sun Communities (NYSE:SUI) last released its 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). Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The business had revenue of $939.90 million for the quarter, compared to the consensus estimate of $980.41 million. During the same quarter in the previous year, the firm earned $2.57 EPS. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. As a group, equities research analysts expect that Sun Communities, Inc. will post 6.76 earnings per share for the current year.

Sun Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend was Monday, September 30th. Sun Communities’s dividend payout ratio (DPR) is 202.15%.

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.