Amalgamated Bank Has $774,000 Stock Position in Sun Communities, Inc. (NYSE:SUI)

Amalgamated Bank lessened its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,293 shares of the real estate investment trust’s stock after selling 188 shares during the period. Amalgamated Bank’s holdings in Sun Communities were worth $774,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. First Trust Direct Indexing L.P. acquired a new position in Sun Communities during the 3rd quarter worth about $235,000. Farther Finance Advisors LLC raised its position in shares of Sun Communities by 89.1% during the third quarter. Farther Finance Advisors LLC now owns 501 shares of the real estate investment trust’s stock worth $68,000 after acquiring an additional 236 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Sun Communities by 10.8% in the third quarter. Van ECK Associates Corp now owns 56,904 shares of the real estate investment trust’s stock worth $7,913,000 after acquiring an additional 5,547 shares during the period. Global Wealth Management Investment Advisory Inc. boosted its holdings in 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 last quarter. Finally, Harvest Portfolios Group Inc. increased its position in Sun Communities by 16.5% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 32,806 shares of the real estate investment trust’s stock valued at $4,434,000 after purchasing an additional 4,639 shares during the period. Institutional investors own 99.59% of the company’s stock.

Sun Communities Trading Up 0.2 %

Shares of Sun Communities stock opened at $136.44 on Tuesday. The stock has a market capitalization of $17.38 billion, a PE ratio of 73.35 and a beta of 0.90. Sun Communities, Inc. has a 52 week low of $110.98 and a 52 week high of $147.83. The stock has a 50 day moving average price of $126.07 and a two-hundred day moving average price of $129.64. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.61 and a current 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 earnings per share (EPS) for the quarter, beating 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 business had revenue of $745.90 million during the quarter, compared to the consensus estimate of $724.68 million. As a group, equities analysts anticipate that Sun Communities, Inc. will post 6.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on SUI shares. UBS Group downgraded shares of Sun Communities from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $155.00 to $134.00 in a research report on Thursday, November 14th. Bank of America lowered shares of Sun Communities from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $147.00 to $114.00 in a report on Tuesday, November 12th. StockNews.com downgraded Sun Communities from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. BMO Capital Markets lowered their price objective on Sun Communities from $145.00 to $138.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Finally, Royal Bank of Canada cut their target price on Sun Communities from $147.00 to $135.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Two equities 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $134.55.

Sun Communities 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.