Sun Communities, Inc. (NYSE:SUI) Shares Purchased by GC Wealth Management RIA LLC

GC Wealth Management RIA LLC increased its position in shares of Sun Communities, Inc. (NYSE:SUI) by 105.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,112 shares of the real estate investment trust’s stock after acquiring an additional 3,140 shares during the quarter. GC Wealth Management RIA LLC’s holdings in Sun Communities were worth $752,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. FMR LLC boosted its position in Sun Communities by 37.6% during the third quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust’s stock worth $707,329,000 after acquiring an additional 1,430,630 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in Sun Communities by 23.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 2,344,020 shares of the real estate investment trust’s stock worth $288,244,000 after acquiring an additional 442,557 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Sun Communities by 1,061.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,323,479 shares of the real estate investment trust’s stock worth $178,868,000 after acquiring an additional 1,209,522 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Sun Communities by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,123,440 shares of the real estate investment trust’s stock worth $138,149,000 after acquiring an additional 47,899 shares during the last quarter. Finally, Westfield Capital Management Co. LP boosted its position in Sun Communities by 58.8% during the third quarter. Westfield Capital Management Co. LP now owns 959,879 shares of the real estate investment trust’s stock worth $129,728,000 after acquiring an additional 355,427 shares during the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Analyst Upgrades and Downgrades

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

Sun Communities Stock Performance

Shares of SUI stock opened at $131.50 on Tuesday. The company’s fifty day simple moving average is $126.90 and its 200-day simple moving average is $129.66. Sun Communities, Inc. has a 52 week low of $110.98 and a 52 week high of $147.83. 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 company has a market cap of $16.75 billion, a PE ratio of 70.70 and a beta of 0.90.

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

Sun Communities Company 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.