B. Metzler seel. Sohn & Co. Holding AG Acquires New Shares in Sun Communities, Inc. (NYSE:SUI)

B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Sun Communities, Inc. (NYSE:SUI) during the third quarter, HoldingsChannel.com reports. The firm bought 2,889 shares of the real estate investment trust’s stock, valued at approximately $390,000.

Other large investors also recently bought and sold shares of the company. Assetmark Inc. raised its stake in shares of Sun Communities by 2,111.1% during 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 raised its position in Sun Communities by 12,700.0% during the second quarter. Quest Partners LLC now owns 384 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 381 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of Sun Communities in the second quarter valued at about $62,000. Farther Finance Advisors LLC grew its position 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 purchasing an additional 236 shares during the last quarter. Finally, Blue Trust Inc. raised its position 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 worth $84,000 after purchasing an additional 436 shares during the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Stock Performance

NYSE SUI opened at $127.46 on Monday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. Sun Communities, Inc. has a 1-year low of $110.98 and a 1-year high of $147.83. The firm has a market capitalization of $16.24 billion, a P/E ratio of 68.53, a P/E/G ratio of 0.54 and a beta of 0.91. The business’s 50-day simple moving average is $132.51 and its 200-day simple moving average is $127.57.

Sun Communities (NYSE:SUI) last announced its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $980.41 million. During the same period last year, the firm earned $2.57 earnings per share. The company’s quarterly revenue was down 4.4% on a year-over-year basis. Equities analysts predict that Sun Communities, Inc. will post 6.78 EPS for the current year.

Sun Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.95%. The ex-dividend date was Monday, September 30th. Sun Communities’s dividend payout ratio (DPR) is presently 202.15%.

Analysts Set New Price Targets

SUI has been the subject of several recent research reports. Truist Financial raised their price target on Sun Communities from $127.00 to $138.00 and gave the stock a “hold” rating in a research report on Tuesday, August 13th. UBS Group cut shares of Sun Communities from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $155.00 to $134.00 in a research note on Thursday, November 14th. Baird R W downgraded shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Evercore ISI lifted their target price on shares of Sun Communities from $149.00 to $150.00 and gave the stock an “in-line” rating in a research note on Monday, October 21st. Finally, Bank of America downgraded Sun Communities from a “neutral” rating to an “underperform” rating and cut their price target for the company from $147.00 to $114.00 in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $139.08.

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.