Versor Investments LP Purchases New Stake in Sun Communities, Inc. (NYSE:SUI)

Versor Investments LP acquired a new position in shares of Sun Communities, Inc. (NYSE:SUI) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 3,400 shares of the real estate investment trust’s stock, valued at approximately $418,000.

Other large investors also recently made changes to their positions in the company. Assetmark Inc. lifted its holdings in shares of 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 acquiring an additional 190 shares in the last quarter. Brooklyn Investment Group purchased a new position in Sun Communities in the third quarter valued at about $41,000. CKW Financial Group lifted its stake in shares of Sun Communities by 45.0% during the fourth quarter. CKW Financial Group now owns 435 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 135 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Sun Communities in the third quarter worth about $60,000. Finally, Farther Finance Advisors LLC grew its stake in shares of Sun Communities by 89.1% in the third quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock valued at $68,000 after buying an additional 236 shares in the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Price Performance

Shares of SUI stock opened at $136.29 on Monday. The firm has a fifty day moving average of $125.82 and a two-hundred day moving average of $129.60. The firm has a market cap of $17.36 billion, a P/E ratio of 73.27 and a beta of 0.90. Sun Communities, Inc. has a 1-year low of $110.98 and a 1-year high of $147.83. 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 posted its quarterly earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The business had revenue of $745.90 million during the quarter, compared to the consensus estimate of $724.68 million. As a group, research analysts anticipate that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Jefferies Financial Group reduced their price target on Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Baird R W cut shares of Sun Communities from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. StockNews.com downgraded shares of Sun Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. BMO Capital Markets dropped their price target on shares of Sun Communities from $145.00 to $138.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Finally, Bank of America cut shares of Sun Communities from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $147.00 to $114.00 in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Sun Communities presently has a consensus rating of “Hold” and a consensus price target of $134.55.

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.