Sun Communities, Inc. (NYSE:SUI) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC reduced its position in Sun Communities, Inc. (NYSE:SUI) by 56.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 64,719 shares of the real estate investment trust’s stock after selling 85,455 shares during the quarter. Los Angeles Capital Management LLC owned about 0.05% of Sun Communities worth $7,958,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legacy Trust purchased a new stake in shares of Sun Communities during the fourth quarter worth $625,000. Aurora Investment Managers LLC. grew its stake in Sun Communities by 9.7% during the 4th quarter. Aurora Investment Managers LLC. now owns 27,490 shares of the real estate investment trust’s stock valued at $3,380,000 after acquiring an additional 2,435 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Sun Communities by 16.1% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 779,744 shares of the real estate investment trust’s stock valued at $95,885,000 after acquiring an additional 108,054 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Sun Communities by 6.9% in the 3rd quarter. Victory Capital Management Inc. now owns 77,203 shares of the real estate investment trust’s stock worth $10,434,000 after purchasing an additional 5,008 shares in the last quarter. Finally, VCI Wealth Management LLC acquired a new position in shares of Sun Communities during the 4th quarter worth approximately $1,312,000. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Analyst Ratings Changes

SUI has been the subject of several recent research reports. Baird R W cut Sun Communities from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Robert W. Baird downgraded Sun Communities from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $145.00 to $126.00 in a research note on Thursday, November 7th. Wells Fargo & Company lowered their price target on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. Jefferies Financial Group cut their price objective on shares of Sun Communities from $145.00 to $142.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Finally, Truist Financial upgraded shares of Sun Communities from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $134.55.

Sun Communities Stock Performance

NYSE:SUI opened at $133.81 on Thursday. 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 debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61. The company has a 50 day moving average price of $125.30 and a 200 day moving average price of $129.55. The stock has a market capitalization of $17.05 billion, a P/E ratio of 71.94 and a beta of 0.90.

Sun Communities (NYSE:SUI) last released its quarterly earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 EPS for the quarter, topping the consensus estimate of $1.39 by $0.02. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. Equities research analysts forecast that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.81%. The ex-dividend date was Tuesday, December 31st. 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.