Metis Global Partners LLC Has $1.84 Million Stock Holdings in Sun Communities, Inc. (NYSE:SUI)

Metis Global Partners LLC boosted its stake in Sun Communities, Inc. (NYSE:SUI) by 19.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,640 shares of the real estate investment trust’s stock after purchasing an additional 2,246 shares during the quarter. Metis Global Partners LLC’s holdings in Sun Communities were worth $1,843,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its position in shares of Sun Communities by 50.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,302,804 shares of the real estate investment trust’s stock worth $424,677,000 after buying an additional 1,105,306 shares during the period. PGGM Investments increased its stake in Sun Communities by 159.9% during the 2nd quarter. PGGM Investments now owns 1,246,739 shares of the real estate investment trust’s stock worth $150,033,000 after acquiring an additional 767,126 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of Sun Communities by 24.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 2,195,884 shares of the real estate investment trust’s stock valued at $264,253,000 after purchasing an additional 424,842 shares during the last quarter. Hsbc Holdings PLC increased its stake in shares of Sun Communities by 199.1% in the 2nd quarter. Hsbc Holdings PLC now owns 358,284 shares of the real estate investment trust’s stock valued at $42,754,000 after purchasing an additional 238,498 shares during the last quarter. Finally, National Bank of Canada FI boosted its holdings in shares of Sun Communities by 499.9% during the 1st quarter. National Bank of Canada FI now owns 157,977 shares of the real estate investment trust’s stock valued at $18,562,000 after acquiring an additional 131,641 shares in the last quarter. 99.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SUI. Truist Financial lifted their target price on Sun Communities from $127.00 to $138.00 and gave the stock a “hold” rating in a report on Tuesday, August 13th. StockNews.com raised Sun Communities from a “sell” rating to a “hold” rating in a research report on Tuesday. Robert W. Baird lowered Sun Communities from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $145.00 to $126.00 in a report on Thursday, November 7th. UBS Group downgraded Sun Communities from a “buy” rating to a “neutral” rating and cut their target price for the stock from $155.00 to $134.00 in a research note on Thursday. Finally, Evercore ISI increased their price objective on Sun Communities from $149.00 to $150.00 and gave the company an “in-line” rating in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Sun Communities has a consensus rating of “Hold” and a consensus target price of $139.08.

Sun Communities Stock Up 0.9 %

Shares of NYSE SUI opened at $125.16 on Friday. The firm’s 50-day moving average price is $134.46 and its 200-day moving average price is $126.96. 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 market capitalization of $15.94 billion, a price-to-earnings ratio of 67.29, a P/E/G ratio of 0.53 and a beta of 0.91. Sun Communities, Inc. has a 12-month low of $110.98 and a 12-month high of $147.83.

Sun Communities (NYSE:SUI) last issued its earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The company had revenue of $939.90 million for the quarter, compared to analysts’ expectations of $980.41 million. During the same period last year, the business posted $2.57 earnings per share. The business’s revenue was down 4.4% compared to the same quarter last year. On average, equities research analysts anticipate that Sun Communities, Inc. will post 6.75 EPS for the current fiscal year.

Sun Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.94 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.76 annualized dividend and a yield of 3.00%. Sun Communities’s dividend payout ratio (DPR) is 202.15%.

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.