Centiva Capital LP Has $2.89 Million Stock Position in Sun Communities, Inc. (NYSE:SUI)

Centiva Capital LP raised its stake in shares of Sun Communities, Inc. (NYSE:SUI) by 110.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,394 shares of the real estate investment trust’s stock after purchasing an additional 11,210 shares during the quarter. Centiva Capital LP’s holdings in Sun Communities were worth $2,891,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Bristlecone Advisors LLC boosted its holdings in Sun Communities by 2.4% during the second quarter. Bristlecone Advisors LLC now owns 3,655 shares of the real estate investment trust’s stock valued at $440,000 after purchasing an additional 85 shares in the last quarter. Toronto Dominion Bank boosted its holdings in Sun Communities by 0.8% during the second quarter. Toronto Dominion Bank now owns 11,916 shares of the real estate investment trust’s stock valued at $1,434,000 after purchasing an additional 98 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Sun Communities by 15.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 762 shares of the real estate investment trust’s stock valued at $92,000 after purchasing an additional 102 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in Sun Communities by 1.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 7,034 shares of the real estate investment trust’s stock valued at $846,000 after purchasing an additional 115 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its holdings in Sun Communities by 3.0% during the third quarter. Avior Wealth Management LLC now owns 4,328 shares of the real estate investment trust’s stock valued at $585,000 after purchasing an additional 125 shares in the last quarter. 99.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SUI shares. BMO Capital Markets decreased their price objective on Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Jefferies Financial Group began coverage on shares of Sun Communities in a research note on Thursday, October 17th. They issued a “buy” rating and a $160.00 target price for the company. StockNews.com cut shares of Sun Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Wells Fargo & Company lifted their target price on shares of Sun Communities from $123.00 to $154.00 and gave the company an “equal weight” rating in a research note on Thursday, September 19th. Finally, Truist Financial lifted their target price on shares of Sun Communities from $127.00 to $138.00 and gave the company a “hold” rating in a research note on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Sun Communities currently has a consensus rating of “Hold” and a consensus target price of $139.08.

Sun Communities Stock Performance

Shares of Sun Communities stock opened at $127.00 on Tuesday. The firm has a fifty day moving average of $130.66 and a two-hundred day moving average of $127.97. The stock has a market capitalization of $16.18 billion, a price-to-earnings ratio of 68.28, a PEG ratio of 0.53 and a beta of 0.89. Sun Communities, Inc. has a 52 week low of $110.98 and a 52 week high of $147.83. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current ratio of 1.61.

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 (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.20). Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. The firm had revenue of $939.90 million during the quarter, compared to analyst estimates of $980.41 million. During the same period last year, the firm earned $2.57 EPS. Sun Communities’s quarterly revenue was down 4.4% on a year-over-year basis. As a group, equities research analysts predict that Sun Communities, Inc. will post 6.78 EPS for the current year.

Sun Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 2.96%. Sun Communities’s dividend payout ratio (DPR) is 202.15%.

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.