Sun Communities, Inc. (NYSE:SUI) Shares Sold by Lockheed Martin Investment Management Co.
Lockheed Martin Investment Management Co. cut its holdings in shares of Sun Communities, Inc. (NYSE:SUI – Get Rating) by 13.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,501 shares of the real estate investment trust’s stock after selling 1,200 shares during the period. Lockheed Martin Investment Management Co.’s holdings in Sun Communities were worth $1,015,000 at the end of the most recent quarter.
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A number of other large investors have also made changes to their positions in SUI. MetLife Investment Management LLC acquired a new position in shares of Sun Communities during the first quarter worth $401,000. Yousif Capital Management LLC raised its stake in shares of Sun Communities by 12.2% in the first quarter. Yousif Capital Management LLC now owns 6,798 shares of the real estate investment trust’s stock worth $1,192,000 after purchasing an additional 739 shares during the last quarter. Raymond James Trust N.A. lifted its holdings in shares of Sun Communities by 21.1% during the first quarter. Raymond James Trust N.A. now owns 1,190 shares of the real estate investment trust’s stock worth $208,000 after purchasing an additional 207 shares during the period. Prudential PLC acquired a new stake in shares of Sun Communities during the first quarter worth about $385,000. Finally, Cetera Investment Advisers lifted its holdings in shares of Sun Communities by 1.9% during the first quarter. Cetera Investment Advisers now owns 3,453 shares of the real estate investment trust’s stock worth $605,000 after purchasing an additional 64 shares during the period. 93.31% of the stock is owned by institutional investors and hedge funds.
Sun Communities Stock Down 1.2 %
Sun Communities stock opened at $147.64 on Thursday. The stock has a market capitalization of $18.29 billion, a PE ratio of 72.02, a price-to-earnings-growth ratio of 2.30 and a beta of 0.64. Sun Communities, Inc. has a 12 month low of $117.63 and a 12 month high of $199.09. The business has a 50 day simple moving average of $143.48 and a 200-day simple moving average of $147.24. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.84 and a quick ratio of 1.84.
Sun Communities (NYSE:SUI – Get Rating) last issued its quarterly earnings results on Monday, October 24th. The real estate investment trust reported $1.32 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.05). Sun Communities had a return on equity of 3.34% and a net margin of 8.81%. During the same period in the previous year, the firm earned $2.11 EPS. On average, analysts anticipate that Sun Communities, Inc. will post 7.28 EPS for the current fiscal year.
Sun Communities Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 17th. Investors of record on Friday, December 30th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend was Thursday, December 29th. Sun Communities’s payout ratio is 171.71%.
Analysts Set New Price Targets
A number of research firms recently commented on SUI. Barclays decreased their target price on Sun Communities from $210.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, October 7th. Robert W. Baird decreased their target price on Sun Communities from $175.00 to $169.00 in a report on Friday, November 25th. StockNews.com started coverage on Sun Communities in a report on Wednesday, October 12th. They issued a “sell” rating for the company. Truist Financial boosted their price target on Sun Communities from $147.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday, November 30th. Finally, TheStreet downgraded Sun Communities from a “b-” rating to a “c” rating in a report on Monday, October 17th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $168.86.
About Sun Communities
Sun Communities, Inc is a REIT that, as of March 31, 2022, owned, operated, or had an interest in a portfolio of 603 developed MH, RV and marina properties comprising nearly 159,300 developed sites and over 45,700 wet slips and dry storage spaces in 39 states, Canada, Puerto Rico and the UK.
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