Quantbot Technologies LP Has $2.64 Million Holdings in Sun Communities, Inc. (NYSE:SUI)

Quantbot Technologies LP raised its holdings in Sun Communities, Inc. (NYSE:SUI) by 639.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,566 shares of the real estate investment trust’s stock after buying an additional 16,919 shares during the quarter. Quantbot Technologies LP’s holdings in Sun Communities were worth $2,644,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SUI. Victory Capital Management Inc. raised its position in Sun Communities by 6.9% in the 3rd quarter. Victory Capital Management Inc. now owns 77,203 shares of the real estate investment trust’s stock valued at $10,434,000 after buying an additional 5,008 shares during the last quarter. KBC Group NV increased its holdings in Sun Communities by 303.3% during the 3rd quarter. KBC Group NV now owns 109,939 shares of the real estate investment trust’s stock worth $14,858,000 after acquiring an additional 82,682 shares during the period. Manning & Napier Advisors LLC purchased a new stake in shares of Sun Communities in the second quarter worth $13,164,000. AMG National Trust Bank purchased a new stake in shares of Sun Communities in the 3rd quarter valued at about $1,690,000. Finally, Virtu Financial LLC bought a new stake in Sun Communities during the first quarter valued at approximately $1,106,000. 99.59% of the stock is owned by institutional investors.

Sun Communities Stock Up 1.2 %

Shares of NYSE:SUI opened at $128.59 on Thursday. Sun Communities, Inc. has a 12 month low of $110.98 and a 12 month high of $147.83. The company has a market cap of $16.38 billion, a price-to-earnings ratio of 69.13, a PEG ratio of 0.54 and a beta of 0.91. 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 50-day moving average price of $131.53 and a 200 day moving average price of $127.72.

Sun Communities (NYSE:SUI) last released its earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.20). The business had revenue of $939.90 million for the quarter, compared to the consensus estimate of $980.41 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.57 earnings per share. As a group, equities research analysts predict that Sun Communities, Inc. will post 6.78 earnings per share for the current year.

Sun Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date was Monday, September 30th. Sun Communities’s dividend payout ratio (DPR) is presently 202.15%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SUI shares. Wells Fargo & Company increased their price target on shares of Sun Communities from $123.00 to $154.00 and gave the company an “equal weight” rating in a research report on Thursday, September 19th. BMO Capital Markets cut their price target on Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Baird R W cut shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. 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 research report on Monday, October 21st. Finally, UBS Group cut Sun Communities from a “buy” rating to a “neutral” rating and lowered their price target for the company from $155.00 to $134.00 in a report on Thursday, November 14th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $139.08.

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.