Sun Communities, Inc. (NYSE:SUI) Shares Sold by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich lessened its position in Sun Communities, Inc. (NYSE:SUI) by 83.2% during the fourth quarter, Holdings Channel reports. The fund owned 513 shares of the real estate investment trust’s stock after selling 2,541 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Sun Communities were worth $70,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of SUI. Assetmark Inc. increased its stake in Sun Communities by 2,111.1% during the 3rd quarter. Assetmark Inc. now owns 199 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 190 shares during the period. Brooklyn Investment Group acquired a new position in Sun Communities during the 3rd quarter valued at about $41,000. Smartleaf Asset Management LLC increased its stake in Sun Communities by 45.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 124 shares during the period. CKW Financial Group increased its stake in Sun Communities by 45.0% during the 4th quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 135 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in Sun Communities during the 3rd quarter valued at about $60,000. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Stock Performance

Shares of SUI opened at $129.82 on Wednesday. Sun Communities, Inc. has a one year low of $110.98 and a one year high of $147.83. The company has a 50-day moving average of $127.04 and a two-hundred day moving average of $129.64. The stock has a market cap of $16.54 billion, a price-to-earnings ratio of 69.80 and a beta of 0.90. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61.

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

Wall Street Analyst Weigh In

Several equities analysts have commented on SUI shares. Jefferies Financial Group lowered their target price 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 cut shares of Sun Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. UBS Group lowered shares of Sun Communities from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $155.00 to $134.00 in a research report on Thursday, November 14th. Royal Bank of Canada restated an “outperform” rating on shares of Sun Communities in a research report on Friday, February 28th. Finally, Wells Fargo & Company reduced their price objective 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. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Sun Communities has an average rating of “Hold” and a consensus target price of $135.55.

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.