Farringdon Capital Ltd. Makes New Investment in Sun Communities, Inc. (NYSE:SUI)

Farringdon Capital Ltd. bought a new stake in Sun Communities, Inc. (NYSE:SUI - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,275 shares of the real estate investment trust's stock, valued at approximately $403,000.

A number of other hedge funds have also recently bought and sold shares of SUI. Aster Capital Management DIFC Ltd increased its position in shares of Sun Communities by 263.6% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 320 shares of the real estate investment trust's stock valued at $39,000 after acquiring an additional 232 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in Sun Communities by 45.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the real estate investment trust's stock worth $49,000 after purchasing an additional 124 shares during the period. CKW Financial Group grew its holdings in Sun Communities by 45.0% during the 4th quarter. CKW Financial Group now owns 435 shares of the real estate investment trust's stock valued at $53,000 after buying an additional 135 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of Sun Communities by 17.2% during the fourth quarter. Quadrant Capital Group LLC now owns 837 shares of the real estate investment trust's stock valued at $103,000 after buying an additional 123 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Sun Communities by 8.5% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,069 shares of the real estate investment trust's stock valued at $131,000 after buying an additional 84 shares during the period. 99.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Truist Financial lowered their target price on shares of Sun Communities from $142.00 to $135.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Jefferies Financial Group assumed coverage on Sun Communities in a research report on Tuesday, April 8th. They set a "buy" rating and a $150.00 target price for the company. JMP Securities reissued a "market outperform" rating and set a $140.00 price objective (down previously from $150.00) on shares of Sun Communities in a report on Monday. Finally, Royal Bank of Canada restated an "outperform" rating on shares of Sun Communities in a research report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Sun Communities presently has a consensus rating of "Hold" and an average price target of $135.70.

Sun Communities Trading Up 0.3 %

SUI stock traded up $0.35 on Wednesday, reaching $121.70. The company's stock had a trading volume of 228,744 shares, compared to its average volume of 835,093. The firm has a market cap of $15.53 billion, a PE ratio of 65.43 and a beta of 0.84. The business has a fifty day simple moving average of $127.41 and a two-hundred day simple moving average of $126.99. Sun Communities, Inc. has a 12-month low of $109.22 and a 12-month high of $147.83. 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 - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 EPS for the quarter, topping the consensus estimate of $1.39 by $0.02. The business had revenue of $745.90 million during the quarter, compared to analyst estimates of $724.68 million. Sun Communities had a net margin of 7.46% and a return on equity of 3.21%. As a group, research analysts forecast that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend was Monday, March 31st. Sun Communities's dividend payout ratio is 508.11%.

Sun Communities Company 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.