HighTower Advisors LLC Cuts Stock Position in Sun Communities, Inc. $SUI

HighTower Advisors LLC cut its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 25.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,077 shares of the real estate investment trust’s stock after selling 710 shares during the period. HighTower Advisors LLC’s holdings in Sun Communities were worth $267,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new stake in Sun Communities during the first quarter worth about $29,000. Parallel Advisors LLC increased its stake in shares of Sun Communities by 66.4% during the first quarter. Parallel Advisors LLC now owns 476 shares of the real estate investment trust’s stock worth $61,000 after buying an additional 190 shares during the period. Avalon Trust Co purchased a new stake in shares of Sun Communities during the first quarter worth approximately $65,000. Blue Trust Inc. increased its stake in shares of Sun Communities by 510.4% during the first quarter. Blue Trust Inc. now owns 586 shares of the real estate investment trust’s stock worth $75,000 after buying an additional 490 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Sun Communities by 23.8% during the first quarter. GAMMA Investing LLC now owns 1,047 shares of the real estate investment trust’s stock worth $135,000 after buying an additional 201 shares during the period. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SUI shares. Deutsche Bank Aktiengesellschaft set a $135.00 target price on shares of Sun Communities and gave the stock a “hold” rating in a research note on Wednesday, June 25th. Morgan Stanley started coverage on shares of Sun Communities in a research note on Tuesday, July 15th. They set an “equal weight” rating and a $135.00 target price on the stock. Truist Financial upped their target price on shares of Sun Communities from $137.00 to $141.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Robert W. Baird upped their target price on shares of Sun Communities from $126.00 to $134.00 and gave the stock a “neutral” rating in a research note on Monday, August 11th. Finally, JMP Securities restated a “market outperform” rating and set a $140.00 target price on shares of Sun Communities in a research note on Tuesday, May 20th. Six investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $138.21.

Sun Communities Stock Performance

Shares of Sun Communities stock opened at $125.03 on Wednesday. The firm has a market capitalization of $15.65 billion, a P/E ratio of 12.23, a P/E/G ratio of 6.55 and a beta of 0.86. Sun Communities, Inc. has a 52 week low of $109.22 and a 52 week high of $147.83. The company has a quick ratio of 7.08, a current ratio of 7.08 and a debt-to-equity ratio of 0.55. The firm’s 50 day moving average is $125.57 and its two-hundred day moving average is $125.78.

Sun Communities (NYSE:SUI) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.09. The business had revenue of $623.50 million during the quarter, compared to the consensus estimate of $614.79 million. Sun Communities had a negative return on equity of 0.60% and a net margin of 48.86%.During the same period in the prior year, the company earned $1.86 earnings per share. Sun Communities has set its FY 2025 guidance at 6.510-6.670 EPS. Q3 2025 guidance at 2.130-2.230 EPS. Research analysts forecast that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

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.