American Century Companies Inc. Has $34.34 Million Stake in Sun Communities, Inc. (NYSE:SUI)

American Century Companies Inc. grew its position in shares of Sun Communities, Inc. (NYSE:SUI - Free Report) by 587.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 279,277 shares of the real estate investment trust's stock after buying an additional 238,677 shares during the quarter. American Century Companies Inc. owned approximately 0.22% of Sun Communities worth $34,343,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Sun Communities by 8.5% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,069 shares of the real estate investment trust's stock worth $131,000 after acquiring an additional 84 shares in the last quarter. Cascade Investment Advisors Inc. raised its holdings in Sun Communities by 0.8% during the 4th quarter. Cascade Investment Advisors Inc. now owns 10,373 shares of the real estate investment trust's stock worth $1,276,000 after purchasing an additional 85 shares during the last quarter. Cetera Trust Company N.A lifted its position in Sun Communities by 6.0% during the 4th quarter. Cetera Trust Company N.A now owns 1,865 shares of the real estate investment trust's stock valued at $229,000 after purchasing an additional 105 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of 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 valued at $49,000 after purchasing an additional 124 shares during the last quarter. Finally, Argonautica Private Wealth Management Inc. grew its position in shares of Sun Communities by 4.5% during the 4th quarter. Argonautica Private Wealth Management Inc. now owns 2,901 shares of the real estate investment trust's stock worth $357,000 after buying an additional 126 shares during the period. Institutional investors and hedge funds own 99.59% of the company's stock.

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Sun Communities Stock Up 0.4 %

Shares of NYSE SUI traded up $0.51 during mid-day trading on Wednesday, hitting $128.99. The company had a trading volume of 389,824 shares, compared to its average volume of 825,614. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.93. The firm has a 50-day simple moving average of $129.02 and a two-hundred day simple moving average of $128.77. The company has a market capitalization of $16.46 billion, a PE ratio of 69.35 and a beta of 0.90. Sun Communities, Inc. has a one year low of $110.98 and a one year high of $147.83.

Sun Communities (NYSE:SUI - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The real estate investment trust reported $1.41 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.02. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The firm had revenue of $745.90 million during the quarter, compared to the consensus estimate of $724.68 million. On average, equities analysts expect that Sun Communities, Inc. will post 6.77 EPS for the current year.

Sun Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Monday, March 31st. Sun Communities's dividend payout ratio (DPR) is presently 508.11%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SUI shares. Royal Bank of Canada restated an "outperform" rating on shares of Sun Communities in a report on Friday, February 28th. Jefferies Financial Group dropped their target price on shares of Sun Communities from $145.00 to $142.00 and set a "buy" rating for the company in a research report on Thursday, January 2nd. Wells Fargo & Company reduced their price target on Sun Communities from $154.00 to $135.00 and set an "equal weight" rating on the stock in a research report on Wednesday, December 11th. Finally, Truist Financial increased their price target on shares of Sun Communities from $136.00 to $142.00 and gave the company a "buy" rating in a research report on Monday, March 10th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $136.60.

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.