Zurcher Kantonalbank Zurich Cantonalbank Has $12.03 Million Stock Holdings in Sun Communities, Inc. (NYSE:SUI)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Sun Communities, Inc. (NYSE:SUI) by 35.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 97,831 shares of the real estate investment trust’s stock after buying an additional 25,425 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.08% of Sun Communities worth $12,030,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. OFI Invest Asset Management bought a new position in Sun Communities in the fourth quarter valued at about $567,000. Candriam S.C.A. boosted its holdings in Sun Communities by 32.2% in the fourth quarter. Candriam S.C.A. now owns 7,390 shares of the real estate investment trust’s stock valued at $909,000 after acquiring an additional 1,798 shares during the last quarter. Freestone Capital Holdings LLC boosted its holdings in Sun Communities by 25.1% in the fourth quarter. Freestone Capital Holdings LLC now owns 19,778 shares of the real estate investment trust’s stock valued at $2,432,000 after acquiring an additional 3,969 shares during the last quarter. Raymond James Financial Inc. bought a new position in Sun Communities in the fourth quarter valued at about $16,051,000. Finally, Arizona State Retirement System boosted its holdings in Sun Communities by 1.4% in the fourth quarter. Arizona State Retirement System now owns 36,210 shares of the real estate investment trust’s stock valued at $4,453,000 after acquiring an additional 502 shares during the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on SUI shares. Truist Financial raised their price target on Sun Communities from $136.00 to $142.00 and gave the company a “buy” rating in a report on Monday. UBS Group cut Sun Communities from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $155.00 to $134.00 in a report on Thursday, November 14th. Royal Bank of Canada restated an “outperform” rating on shares of Sun Communities in a report on Friday, February 28th. StockNews.com cut Sun Communities from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Finally, Jefferies Financial Group cut their price objective on Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $135.55.

Sun Communities Stock Down 1.2 %

NYSE:SUI opened at $128.21 on Thursday. The firm has a market capitalization of $16.33 billion, a price-to-earnings ratio of 68.93 and a beta of 0.90. Sun Communities, Inc. has a twelve month low of $110.98 and a twelve month high of $147.83. The stock’s 50 day moving average price is $127.14 and its two-hundred day moving average price is $129.63. 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 posted its quarterly earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.02. The firm had revenue of $745.90 million for the quarter, compared to analyst estimates of $724.68 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. Equities research analysts expect that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

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.