Sun Communities, Inc. $SUI Stock Holdings Reduced by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund cut its stake in Sun Communities, Inc. (NYSE:SUI) by 14.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,868 shares of the real estate investment trust’s stock after selling 4,704 shares during the period. Illinois Municipal Retirement Fund’s holdings in Sun Communities were worth $3,198,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. CX Institutional increased its stake in Sun Communities by 1,076.7% during the 3rd quarter. CX Institutional now owns 353 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 323 shares in the last quarter. Oslo Pensjonsforsikring AS acquired a new stake in shares of Sun Communities during the first quarter worth $49,000. Avalon Trust Co acquired a new stake in shares of Sun Communities during the second quarter worth $61,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Sun Communities during the second quarter worth $72,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Sun Communities during the second quarter worth $83,000. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Truist Financial cut their target price on Sun Communities from $136.00 to $129.00 and set a “buy” rating on the stock in a research report on Tuesday, November 3rd. Barclays reduced their target price on Sun Communities from $147.00 to $143.00 and set an “overweight” rating for the company in a research note on Wednesday, October 14th. Weiss Ratings cut Sun Communities from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, November 4th. Mizuho lowered their price target on Sun Communities from $137.00 to $136.00 and set an “outperform” rating for the company in a research report on Monday, September 21st. Finally, Morgan Stanley dropped their price target on Sun Communities from $135.00 to $126.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $135.65.

Sun Communities Stock Performance

SUI traded up $1.19 on Friday, reaching $118.60. The stock had a trading volume of 645,892 shares, compared to its average volume of 1,346,583. The company has a current ratio of 4.68, a quick ratio of 4.68 and a debt-to-equity ratio of 0.69. Sun Communities, Inc. has a 12-month low of $109.77 and a 12-month high of $137.85. The business’s 50-day moving average price is $115.43 and its two-hundred day moving average price is $123.10. The company has a market cap of $14.16 billion, a P/E ratio of -19.25, a price-to-earnings-growth ratio of 5.95 and a beta of 0.75.

Sun Communities (NYSE:SUI) last issued its quarterly earnings results on Monday, October 26th. The real estate investment trust reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.05. Sun Communities had a positive return on equity of 5.02% and a negative net margin of 36.00%. The company had revenue of $558.20 million for the quarter, compared to the consensus estimate of $563.59 million. During the same quarter in the prior year, the business posted $2.28 earnings per share. Sun Communities’s revenue for the quarter was up .4% on a year-over-year basis. Sell-side analysts forecast that Sun Communities, Inc. will post 7.03 earnings per share for the current year.

Sun Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were given a dividend of $1.12 per share. The ex-dividend date was Wednesday, September 30th. This represents a $4.48 dividend on an annualized basis and a yield of 3.8%. Sun Communities’s dividend payout ratio is currently -72.73%.

About Sun Communities

Sun Communities, Inc. is a real estate investment trust that owns and operates manufactured housing communities, recreational vehicle (RV) communities and resorts, and marinas. Its properties serve long-term residents as well as vacationers and boaters, with offerings that include home sites, RV accommodations, boat slips and related amenities. Founded in 1975, the company has expanded beyond its original manufactured housing business through acquisitions and development. Its portfolio spans the United States, Canada and the United Kingdom.