VCI Wealth Management LLC Acquires Shares of 10,670 Sun Communities, Inc. (NYSE:SUI)

VCI Wealth Management LLC bought a new stake in Sun Communities, Inc. (NYSE:SUI - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,670 shares of the real estate investment trust's stock, valued at approximately $1,312,000.

Other large investors also recently modified their holdings of the company. FMR LLC increased its stake in Sun Communities by 37.6% during the 3rd quarter. FMR LLC now owns 5,233,656 shares of the real estate investment trust's stock worth $707,329,000 after purchasing an additional 1,430,630 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Sun Communities by 1,061.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,323,479 shares of the real estate investment trust's stock worth $178,868,000 after acquiring an additional 1,209,522 shares in the last quarter. Westfield Capital Management Co. LP increased its position in shares of Sun Communities by 58.8% during the third quarter. Westfield Capital Management Co. LP now owns 959,879 shares of the real estate investment trust's stock worth $129,728,000 after acquiring an additional 355,427 shares in the last quarter. Adelante Capital Management LLC raised its holdings in shares of Sun Communities by 168.7% during the third quarter. Adelante Capital Management LLC now owns 559,129 shares of the real estate investment trust's stock worth $75,566,000 after acquiring an additional 351,017 shares during the period. Finally, Los Angeles Capital Management LLC lifted its position in Sun Communities by 173.7% in the 3rd quarter. Los Angeles Capital Management LLC now owns 150,174 shares of the real estate investment trust's stock valued at $20,296,000 after acquiring an additional 95,303 shares in the last quarter. 99.59% of the stock is currently owned by institutional investors.

Sun Communities Stock Performance

Shares of Sun Communities stock traded down $4.07 during trading on Tuesday, hitting $127.10. 1,303,750 shares of the stock were exchanged, compared to its average volume of 884,021. Sun Communities, Inc. has a 1-year low of $110.98 and a 1-year high of $147.83. The stock has a market capitalization of $16.19 billion, a price-to-earnings ratio of 68.33, a price-to-earnings-growth ratio of 0.51 and a beta of 0.89. The company has a fifty day moving average price of $124.63 and a 200-day moving average price of $129.62. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93.

Sun Communities (NYSE:SUI - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $2.31 earnings per share for the quarter, missing analysts' consensus estimates of $2.51 by ($0.20). Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The business had revenue of $939.90 million for the quarter, compared to analyst estimates of $980.41 million. During the same period last year, the firm earned $2.57 EPS. Sun Communities's quarterly revenue was down 4.4% compared to the same quarter last year. As a group, equities analysts predict that Sun Communities, Inc. will post 6.78 EPS for the current fiscal year.

Sun Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.94 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $3.76 annualized dividend and a dividend yield of 2.96%. Sun Communities's dividend payout ratio is currently 202.15%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SUI. Truist Financial upgraded Sun Communities from a "hold" rating to a "buy" rating in a report on Friday, January 17th. Wells Fargo & Company decreased their price objective on Sun Communities from $154.00 to $135.00 and set an "equal weight" rating for the company in a report on Wednesday, December 11th. Bank of America cut Sun Communities from a "neutral" rating to an "underperform" rating and cut their target price for the company from $147.00 to $114.00 in a research note on Tuesday, November 12th. Baird R W cut shares of Sun Communities from a "strong-buy" rating to a "hold" rating in a research note on Thursday, November 7th. Finally, UBS Group downgraded shares of Sun Communities from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $155.00 to $134.00 in a report on Thursday, November 14th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $134.08.

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.