Corient Private Wealth LLC Has $11.38 Million Stake in Sun Communities, Inc. (NYSE:SUI)

Corient Private Wealth LLC decreased its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 0.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 92,569 shares of the real estate investment trust’s stock after selling 502 shares during the period. Corient Private Wealth LLC’s holdings in Sun Communities were worth $11,383,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Assetmark Inc. grew 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 purchasing an additional 190 shares during the period. Brooklyn Investment Group acquired a new stake in Sun Communities in the 3rd quarter valued at $41,000. Smartleaf Asset Management LLC grew its position in Sun Communities by 45.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 124 shares during the period. CKW Financial Group grew its position in 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 purchasing an additional 135 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in Sun Communities in the 3rd quarter valued at $60,000. Institutional investors and hedge funds own 99.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SUI shares. Wells Fargo & Company reduced their price target on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. Royal Bank of Canada reissued an “outperform” rating on shares of Sun Communities in a research report on Friday, February 28th. StockNews.com downgraded shares of Sun Communities from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Jefferies Financial Group dropped their price objective on Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Finally, Truist Financial raised their price objective on Sun Communities from $136.00 to $142.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Sun Communities presently has a consensus rating of “Hold” and a consensus price target of $135.55.

Sun Communities Trading Down 0.9 %

NYSE SUI opened at $131.65 on Thursday. The stock has a market capitalization of $16.77 billion, a price-to-earnings ratio of 70.78 and a beta of 0.90. Sun Communities, Inc. has a one year low of $110.98 and a one year high of $147.83. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. The business’s fifty day moving average is $127.85 and its 200-day moving average is $129.51.

Sun Communities (NYSE:SUI) last released its earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. The company had revenue of $745.90 million for the quarter, compared to analysts’ expectations of $724.68 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. Equities research analysts predict that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Monday, March 31st. Sun Communities’s dividend payout ratio is currently 508.11%.

About 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.