Wealthfront Advisers LLC lifted its position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 712.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,254 shares of the real estate investment trust's stock after purchasing an additional 63,366 shares during the period. Wealthfront Advisers LLC owned about 0.06% of Sun Communities worth $8,885,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in SUI. Assetmark Inc. boosted 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 valued at $27,000 after buying an additional 190 shares during the last quarter. Brooklyn Investment Group bought a new position in Sun Communities during the 3rd quarter worth approximately $41,000. Smartleaf Asset Management LLC boosted its holdings in Sun Communities by 45.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust's stock worth $49,000 after purchasing an additional 124 shares during the period. CKW Financial Group boosted its holdings in shares of Sun Communities by 45.0% in the 4th quarter. CKW Financial Group now owns 435 shares of the real estate investment trust's stock valued at $53,000 after buying an additional 135 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Sun Communities during the 3rd quarter worth approximately $60,000. 99.59% of the stock is currently owned by hedge funds and other institutional investors.
SUI stock traded down $2.52 during midday trading on Thursday, hitting $125.59. The stock had a trading volume of 548,459 shares, compared to its average volume of 789,058. The firm has a market capitalization of $16.00 billion, a price-to-earnings ratio of 67.52 and a beta of 0.90. 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 stock has a 50-day simple moving average of $127.14 and a 200 day simple moving average of $129.63. Sun Communities, Inc. has a 52 week low of $110.98 and a 52 week high of $147.83.
Sun Communities (NYSE:SUI - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.02. The firm had revenue of $745.90 million during 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%. As a group, equities research analysts anticipate that Sun Communities, Inc. will post 6.77 earnings per share for the current year.
Several research analysts have recently issued reports on SUI shares. Royal Bank of Canada reissued an "outperform" rating on shares of Sun Communities in a research note on Friday, February 28th. Truist Financial raised their price objective on Sun Communities from $136.00 to $142.00 and gave the stock a "buy" rating in a research report on Monday. Wells Fargo & Company cut their price objective on Sun Communities from $154.00 to $135.00 and set an "equal weight" rating for the company in a report on Wednesday, December 11th. StockNews.com downgraded Sun Communities from a "hold" rating to a "sell" rating in a research note on Wednesday, November 20th. Finally, UBS Group downgraded Sun Communities from a "buy" rating to a "neutral" rating and lowered their price target for the company from $155.00 to $134.00 in a research report on Thursday, November 14th. Two research 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, the stock has a consensus rating of "Hold" and a consensus target price of $135.55.
Get Our Latest Research Report on Sun Communities
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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