Baillie Gifford & Co. Sells 13,544 Shares of Sun Communities, Inc. (NYSE:SUI)

by · The Markets Daily

Baillie Gifford & Co. cut its holdings in Sun Communities, Inc. (NYSE:SUI – Free Report) by 15.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 73,147 shares of the real estate investment trust’s stock after selling 13,544 shares during the period. Baillie Gifford & Co.’s holdings in Sun Communities were worth $9,886,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of SUI. Entropy Technologies LP grew its position in shares of Sun Communities by 44.4% in the third quarter. Entropy Technologies LP now owns 12,685 shares of the real estate investment trust’s stock valued at $1,714,000 after purchasing an additional 3,903 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in Sun Communities by 173.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 150,174 shares of the real estate investment trust’s stock valued at $20,296,000 after buying an additional 95,303 shares in the last quarter. Assetmark Inc. increased its position in shares of Sun Communities by 2,111.1% during the third 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. Harvest Portfolios Group Inc. lifted its holdings in shares of Sun Communities by 16.5% in the third quarter. Harvest Portfolios Group Inc. now owns 32,806 shares of the real estate investment trust’s stock worth $4,434,000 after buying an additional 4,639 shares in the last quarter. Finally, Global Wealth Management Investment Advisory Inc. boosted its position in shares of Sun Communities by 12.3% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 4,189 shares of the real estate investment trust’s stock valued at $566,000 after acquiring an additional 458 shares during the period. Institutional investors own 99.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. BMO Capital Markets decreased their target price on shares of Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Robert W. Baird downgraded Sun Communities from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $145.00 to $126.00 in a research report on Thursday, November 7th. Bank of America lowered Sun Communities from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $147.00 to $114.00 in a research note on Tuesday. UBS Group upgraded Sun Communities to a “strong-buy” rating in a research note on Thursday, October 10th. Finally, Jefferies Financial Group assumed coverage on Sun Communities in a research report on Thursday, October 17th. They set a “buy” rating and a $160.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Sun Communities has a consensus rating of “Hold” and a consensus price target of $139.50.

Check Out Our Latest Analysis on Sun Communities

Sun Communities Price Performance

Shares of NYSE:SUI opened at $124.18 on Wednesday. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. The stock has a market cap of $15.82 billion, a PE ratio of 66.76, a PEG ratio of 0.98 and a beta of 0.91. The company’s fifty day moving average is $135.16 and its 200 day moving average is $126.95. Sun Communities, Inc. has a 52 week low of $110.98 and a 52 week high of $147.83.

Sun Communities (NYSE:SUI – Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $2.31 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.20). The company had revenue of $939.90 million during the quarter, compared to analysts’ expectations of $980.41 million. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The firm’s quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.57 EPS. Research analysts anticipate that Sun Communities, Inc. will post 6.76 earnings per share for the current year.

Sun Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date was Monday, September 30th. Sun Communities’s dividend payout ratio (DPR) is presently 202.15%.

Sun Communities Company Profile

(Free Report)

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.

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